Director Option Award

RNS Number : 1995S
Metal Tiger PLC
03 July 2015
 



METAL TIGER PLC

3 July 2015

 



Metal Tiger plc

("Metal Tiger" or the "Company")

 

Director Option Award

 

Metal Tiger (LON: MTR), the natural resources investing company announces the award of share options to directors of the company.  The Board of Metal Tiger has today approved the issue of 15 million options, with a maximum 3 year exercise period and an exercise price of 2 pence per new ordinary share in Metal Tiger plc, a premium of 110% to the closing share price of Metal Tiger plc at the market close today.

 

The new options are to be awarded as follows:

 

Cameron Parry - Chief Executive Officer              5,000,000 shares

Paul Johnson - Executive Director                           5,000,000 shares

Terry Grammer - Non-Executive Chairman          3,330,000 shares

Alex Borrelli - Non-Executive Director                  1,670,000 shares

 

In addition the Company also confirms that the options award to Paul Johnson announced on 27 January 2015 and in respect of his move to Executive Director status (3,330,000 shares, 3 year exercise period and 1.75p exercise price) have now been issued.  The Company's announcement of 27 January 2015 noted that this award would be issued and confirmed to market when the company was not in a close period.  It has taken just over five months to do this as the Company is highly active and has remained in a close period throughout this time.

 

The options will vest with immediate effect and incorporating the above new options the total management options going forward will be as follows:

 

Director

Role

Number of Options

Exercise Period End

Exercise Price

Cash to MTR on Exercise

Cameron Parry

Chief Executive Officer

5,000,000

10.7.17

1p

£50,000



5,000,000

2.7.18

2p

£100,000

Paul Johnson

Executive Director

1,670,000

10.7.17

1p

 

£16,700



3,330,000

2.7.18

1.75p

£58,275



5,000,000

2.7.18

2p

£100,000

Terry Grammer

Non-Executive Chairman

3,335,000

14.12.17

1.5p

 

£50,025



3,330,000

2.7.18

2p

£66,600

Alex Borrelli

Non-Executive Director

1,670,000

10.7.17

1p

£16,700



1,670,000

2.7.18

2p

£33,400







Total

30,005,000


£491,700

 

 

Cameron Parry CEO of Metal Tiger commented: "During the last year Metal Tiger plc has transformed into a diverse natural resource investing company with two active divisions - Direct Projects and Direct Equity.  The Company now has a diverse multi-commodity portfolio of assets and interests acquired during what the Metal Tiger board considers to be the bottoming phase of the natural resource bear market we have experienced since 2011. 

 

By setting the option price at a substantial premium to the underlying share price the Board recognise the importance of aligning director and shareholder interests.  Unless the share price of Metal Tiger appreciates considerably, thereby benefitting existing shareholders, the director options awarded in this round will not be in profit.    Furthermore, as noted in the table above, exercise of the director options could provide another financing source for the Company, potentially bringing in up to £491,700 in additional funding.

 

The Board of Metal Tiger continues to work hard to see the Company's inherent value, and share price over the next 12 months, appreciate significantly beyond what has been achieved in the first 12 months as Metal Tiger."

 

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

 

Metal Tiger Plc


Cameron Parry (CEO)

Tel: +44 (0)207 099 0738

Paul Johnson (Executive Director)

Tel: +44 (0)7766 465 617

Spark Advisory Partners Limited (Nominated Adviser)

Sean Wyndham-Quin

Neil Baldwin

Tel: +44 (0) 2033 683 555

 

SI Capital (Sole Broker)

Nick Emerson

Andy Thacker

Tel: +44 (0) 1483 413 500

 

Notes to Editors:

 

Metal Tiger Plc is a natural resources focused investing company quoted on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and two investment divisions, Direct Equities and Direct Projects. 

 

The Direct Equities division invests in quoted natural resource explorers and developers, with a combination of shares and warrants providing a potential non-debt financing instrument and enhanced return potential.

 

The Direct Projects division invests in operational mineral exploration projects with current investments in Spanish Gold & Tungsten, Thai Gold, Copper & Antimony, and Tanzanian Gold and Uranium.  The Direct Projects investment division also has working collaborations to identify new investment opportunities in Russia (platinum focus) and Turkey (gold focus), in association with experienced in-country partners.

 

Metal Tiger'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 timed to coincide where possible, with a cyclical recovery in the exploration and mining markets.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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