Metal Tiger plc - Issue of Equity for Services
Issue of Equity for Services and Exercise of Options by former Director
Metal Tiger Plc
11 July 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Issue of Equity for Services
Metal Tiger (LON: MTR), the natural resources investing company is pleased to announce that it has agreed to issue 1,979,373 new ordinary shares in lieu of cash for professional services provided to the Company.
The shares 1,979,373 were issued at the 15 day VWAP to the close on the 7th July 2017 being 2.09382 pence per share. This represents a slight premium to the closing share price on the 7th July 2017.
In addition, a former director has exercised 2,500,000 share options priced at 1p per share.
The 4,479,373 new ordinary shares are expected to be admitted to trading on or around 14 July 2017. Following the issue of the new ordinary shares, the number of ordinary shares in issue in the Company will increase to 968,003,768. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of Metal Tiger following this allotment consists of 968,003,768 ordinary shares with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Metal Tiger under the DTRs.
For further information on the Company, visit: www.metaltigerplc.com:
|Michael McNeilly (Chief Executive Officer)||Tel: +44(0)20 7099 0738|
|Keith Springall (Finance Director & Company Secretary)||Tel: +44 (0)20 7099 0738|
| Sean Wyndham-Quin
| Spark Advisory Partners Limited
| Tel: +44 (0) 2033 683 555
| Nick Emerson
| SI Capital
|Tel: +44 (0)1483 413 500|
| Andrew Monk
| VSA Capital Limited
|Tel: +44 (0)20 3005 5000|
| Gordon Poole
|Tel: +44 (0)20 3757 4980|
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market (“AIM”) with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company’s target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger’s Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has tungsten and gold interests in the highly-mineralised Extremadura region. In Thailand Metal Tiger has interests in two potentially near-production stage silver/lead/zinc mines as well as licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.