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Transaction in own shares and cancellation of treasury shares

LONDON--(BUSINESS WIRE)-- 

20 January 2020

Metal Tiger plc

(“Metal Tiger” or the “Company”)

Transaction in own shares and cancellation of treasury shares

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announces that it has made (through Arden Partners plc (“Arden”) acting as the Company’s broker) the following redemptions pursuant to the share buyback programme (the “Programme”) announced on 19 December 2019.

Date of purchase

 

17 January 2020

Number of shares purchased

 

1,500,000

Highest price paid per share

 

1.31 pence

Lowest price paid per shares

 

1.31 pence

Volume weighted average price per share

 

1.31 pence

In addition, the Company announces that it has now cancelled 16,316,380 shares, previously held in treasury, being all of the shares purchased by the Company between 19 December 2019 and 10 January 2020 pursuant to the Programme.

Notification of total voting rights in accordance with the FCA's Disclosure and Transparency Rules provision 5.6.1R.

Following the repurchase of the shares and the separate cancellation of shares (both as set out above), the Company's issued share capital consists of 1,542,855,917 shares including 12,179,310 shares held in Treasury.

Hence, the figure of 1,530,676,607 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest, in Metal Tiger under the FCA's Disclosure and Transparency Rules. The Company will make further announcements in due course following the completion of any further purchases pursuant to the Programme.

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 details of the purchase of its own ordinary shares by the Company, which were all executed through Arden are set out below:

Individual transactions:

Number of shares
purchased

Transaction price
(pence per share)

Time of
transaction

Trading
venue

1,500,000

1.31

16:02.38

LSE

For further information on the Company, visit: www.metaltigerplc.com:

Michael McNeilly

 

(Chief Executive Officer)

 

Tel: +44 (0)20 7099 0738

Mark Potter

 

(Chief Investment Officer)

 

 

 

 

 

 

Richard Tulloch

 

Strand Hanson Limited (Nominated Adviser)

 

Tel +44 (0)20 7409 3494

James Dance

Jack Botros

 

 

 

 

 

Paul Shackleton

 

Arden Partners plc (Broker)

 

Tel: +44 (0)20 7614 5900

Steve Douglas

 

 

 

 

 

Gordon Poole

 

Camarco (Financial PR)

 

Tel: +44 (0)20 3757 4980

James Crothers

Monique Perks

Notes to Editors:

Metal Tiger plc is admitted to the AIM market of the London Stock Exchange ("AIM") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.

The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: Direct Equities and Direct Projects.

The Direct Equities Division invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its 3.5% interest in Sandfire Resources NL (ASX:SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment in the Direct Projects Division.

The Direct 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 through its interest in Kalahari Metals Limited. In Spain, 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 lead/zinc/silver mines as well as licences, applications and critical historical data covering antimony, copper, gold, lead, zinc and silver opportunities.

The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.

Metal Tiger plc

Source: Metal Tiger plc