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New World Oil and Gas Settlement Update

RNS Number : 0635T
Metal Tiger PLC
15 July 2015
 

METAL TIGER PLC

15 July 2015

 

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

New World Oil and Gas Settlement Update

 

Metal Tiger (LON: MTR), the natural resources investing company is pleased to update shareholders with regard to New World Oil and Gas settlement.   The Company also wishes to provide further information in respect of the Company's forthcoming AGM and to advise of amendments to certain notifiable shareholdings in the Company.

 

 

New World Oil and Gas Settlement Update

 

On 26 May 2015 Metal Tiger announced that, following market disposals of New World Oil and Gas (LON:NEW) shares totalling £169,891.60, only £17,243.53 had been received by the Company reflecting the limited proportion of stock delivered and settled on the Company's stockbroking account. 

 

Metal Tiger is now able to confirm that the Company has received payment of the full balance of money due from New World Oil and Gas disposals.   In addition the Company has also received confirmation that its remaining holding of 18,354,545 shares in New World Oil and Gas has been settled on the Company's stockbroking account.

 

After deducting legal costs incurred to protect the Company's position given the well reported settlement difficulties, and trading commissions, from the gross settlement proceeds, Metal Tiger has received a net £160,654.92 from the sales proceeds of the 28,700,000 New World Oil and Gas Shares sold and retains a now settled holding of 18,354,545 shares.  This compares to an original entry cost for 47,054,545 shares of £31,526.55.

 

The net proceeds received will be applied to further the current and potential new interests in the Company's Direct Equities and Direct Projects divisions.

 

 

Annual General Meeting

 

Shareholders are reminded that the Company's Annual General Meeting is scheduled to take place at 4pm on 30 July 2015 at 200 Strand, London, WC2R 1DJ.

 

Copies of the AGM notice and proxy forms have been sent to shareholders holding certificated stock and copies of both the notice and proxy are lodged on the Company's website.

 

Holders of Metal Tiger shares in nominee accounts who wish to attend & vote or to submit their votes without attendance, should contact their nominee account provider and the provider will be able to arrange this.  It is advisable to do this as soon as possible, to ensure your votes will be lodged in time.

 

Metal Tiger directors will be in attendance at the AGM and there will be time to discuss shareholder and attendee questions about the company during and after the AGM. 

 

Should you be unable to attend the AGM but wish to raise a query about the Company and its activities, please email This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Notifiable Shareholders

 

The Company has confirmed that following the recent issue of shares on 29 June 2015, the notifiable holdings of certain shareholders are:

 

Paternoster Resources plc - 26,977,675 shares - 8.88%

 

Black Star Gold Pty Limited - 19,880,000 - 6.54%

 

Mr Michael Joseph - 18,360,092 shares - 6.05%

 

The above are based on the shares in issue currently of 303,705,795, which will increase shortly to 308,375,795 after admission of the new shares following conversion of 1p options announced on 10 July 2015.

 

The Company's website will be updated with the above notifiable holdings under the AIM Rule 26 section.

 

 

 

 

 

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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