Result of AGM

RNS Number : 6371U
Metal Tiger PLC
30 July 2015

Metal Tiger Plc

30 July 2015

Metal Tiger Plc

("Metal Tiger" or the "Company")



AGM Update and Statement


Metal Tiger (LON: MTR), the natural resources investing company is pleased to advise that at the AGM held at 4.00pm on Thursday 30th July 2015 all resolutions placed before the meeting were passed.  Details of the resolutions are provided below for reference purposes.


In addition, following the passing of the resolutions, the following statement was read to the meeting by Cameron Parry, CEO of Metal Tiger:


"I would like to thank all shareholders who voted in the Annual General Meeting, and for those attending here today. We are also grateful for the support of our shareholders over the last year.


Despite the challenging sector conditions, Metal Tiger has made tremendous progress, with substantial gains made in the Direct Equities division.  We strive to be a strong financing partner for investees, and for example reinvested significant profits achieved in Kibo Mining and Eurasia Mining with an early conversion of 3 year warrants.  But alongside supporting investee companies we also have a duty to crystallise gains and redeploy capital in new opportunities, which we do proactively. 


The Direct Projects division is active with investments in a successful Tungsten/Gold project in Spain, an intriguing Gold/Antimony project in Thailand and the Company also awaits initial data from its Gold Joint Venture with Kibo Mining in Tanzania. 


The Direct Projects division collaborations continue with Ariana Resources in Turkey and Eurasia Mining in Russia, seeking out new precious metals opportunities.  We are optimistic of progress on both fronts this year.


And we are pleased to confirm the Company's search for new opportunities in precious and strategic metals is highly advanced, with late stage discussions taking place with regard to a potentially high grade gold opportunity with near term production potential.  Whilst there can be no assurance that a deal will be signed and announced, we are of the view that in today's challenging markets, only the best projects and opportunities deserve Metal Tiger's attention and Company's capital.


We are well funded, well prepared and sensibly aggressive; and ready for the cycle to turn in favour of resource investors.  We note the varied speculation surrounding the Company and its activities.  It is particularly encouraging to be the subject of market participant conversations, whether those are derived from positive or negative perspectives.  We welcome investor feedback on our work and business approach.  We intend to build a diversified and highly valuable mineral resource exploration and development investing company.  And so far so good, however there is still much work to do."


Resolutions Passed at the Metal Tiger plc Annual General Meeting 30.7.15, London

Resolution 1 - Receiving and Considering the Accounts

To receive and consider the financial statements of the Company for the period ended 31 December 2014 together with the report of the directors and the report of the auditors thereon.

Resolutions 2 - 4 Reappointment of Directors

The re-appointment of Mr Terry Grammer, Mr Cameron Parry and Mr Paul Johnson who were appointed as Directors following the dispatch of the notice of the Company's last annual general meeting. Each of Mr Grammer, Mr Parry and and Mr Johnson, being eligible, offered themselves for re-appointment.

Resolution 5 - Reappointment of Auditors

To authorise the re-appointment of BDO Stoy Hayward LLP as auditors of the Company and to authorise the Directors to determine their remuneration.

Resolution 6 - Directors' Authority to Allot Shares

To grant the Directors authority to allot and issue shares and grant rights to subscribe for shares in the Company for the purposes of Section 551 of the Companies Act 2006 ("Act") up to the maximum aggregate nominal amount of £50,000. This resolution replaces any existing authorities to issue shares in the Company and the authority under this resolution will expire at the conclusion of the next annual general meeting of the Company.

Resolution 7 - Disapplication of Pre-emption Rights

To dis-apply the statutory rights of pre-emption in respect of the allotment of equity securities for cash under Section 561(1) of the Act. This is a special resolution authorising the Directors to issue equity securities as continuing authority up to an aggregate nominal amount of £50,000 for cash on a non pre-emptive basis pursuant to the authority conferred by Resolution 6 above.

The authority granted by this Resolution will expire at the conclusion of next annual general meeting of the Company.


For further information on the Company, visit:


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.

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