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Issue of equity and director shareholding

RNS Number : 2382M
Metal Tiger PLC
14 July 2014
 



Metal Tiger plc

("Metal Tiger" or the "Company")

RNS Number : 2382M
Metal Tiger PLC
14 July 2014
 



Metal Tiger plc

("Metal Tiger" or the "Company")

 

Issue of equity, director shareholding, holding in Company and total voting rights

 

Issue of equity

 

The Board of Metal Tiger, the natural resources investing company, announces that it has today issued a total of 6,800,000 new ordinary shares of 0.01 pence each in the Company ("Ordinary Shares") in lieu of fees payable to certain parties (the "Fee Shares"). The Fee Shares have been issued as follows:

 

·     2,400,000 new Ordinary Shares have been issued to Peterhouse Corporate Finance Limited (the Company's joint broker) in lieu of fees payable to them over a six month period in 2013;

 

·     2,000,000 new Ordinary Shares have been issued to Nicholas Lee (a former director of the Company) in lieu of consultancy fees (before VAT) payable for the period from 1 January 2013 to 31 December 2013 under the terms of his non-executive role in the company when it was known as Brady Exploration plc. Paternoster Resources plc, a company of which Nicholas Lee is chairman of, is beneficially interested in 16,977,675 Ordinary Shares representing 9.77% of the share capital of the Company (as enlarged by the issue of the Fee Shares); and

 

·     2,400,000 new Ordinary Shares have been issued to Alex Borrelli (Non-Executive Chairman) in lieu of consultancy fees (including VAT) payable for the period from 1 January 2013 to 31 December 2013 under the terms of his non-executive role in the company when it was known as Brady Exploration plc.

 

The Fee Shares were all issued at a subscription price of 0.5 pence each and will rank pari passu in all respects with the existing Ordinary Shares. Application has been made to the London Stock Exchange for the 6,800,000 Fee Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 18 July 2014.

 

Director shareholding

 

On Admission Alex Borrelli will be interested in 2,400,000 Ordinary Shares representing 1.38 per cent. of the share capital of the Company (as enlarged by the issue of the Fee Shares).

 

Holding in Company

 

The Company received notification on 11 July 2014 that, on 3 July 2014 in an off-market transaction, Goldbondsuper Pty Ltd sold 12,000,000 Ordinary Shares at a price of 0.5 pence per Ordinary Share and that, on 3 July 2014, Auro Pty Ltd acquired 12,000,000 Ordinary Shares at a price of 0.5 pence per Ordinary Share. Following this share transaction Auro Pty Ltd has a beneficial interest in 12,000,000 Ordinary Shares representing 6.91 per cent. of the share capital of the Company (as enlarged by the issue of the Fee Shares). Both Goldbondsuper Pty Ltd and Auro Pty Ltd are companies controlled by Mr. Kim Morrison.

 

Total voting rights

 

Following the issue of the 6,800,000 new Ordinary Shares the Company's issued share capital consists of 173,705,803 ordinary shares of 0.01 pence each with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore the total number of ordinary shares and voting rights in the Company is 173,705,803.

 

The above figure may be used by shareholders in the Company 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, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

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

 

Cameron Parry

(CEO)

 


Tel: +44 (0)207 099 0738

Paul Johnson

(Non-Executive Director)

 


Tel: +44 (0)7766 465 617

Nick Athanas

Michael McNeilly

 

Allenby Capital Limited

(Nominated Adviser and Joint Broker)

Tel: +44 (0) 20 3328 5656




Lucy Williams

Peterhouse Corporate Finance

(Joint Broker)

Tel: +44 (0) 20 7469 0935

 


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