Strategic Investment in ZimNRG

RNS Number : 8367O
Metal Tiger PLC
11 February 2016
 

Metal Tiger Plc

11 February 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

 

Strategic Investment in ZimNRG

 

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce an investment in ZimNRG plc (ISDX:ZIMO) ("ZimNRG"), subject to ZimNRG shareholder approval.

 

Metal Tiger is to invest £50,003 to acquire 19,027,268 shares or a 28.25% holding in ZimNRG plc, a resource investing company quoted on the ISDX market under the trading symbol ZIMO. The investment in ZimNRG is conditional upon ZimNRG shareholder approval at a forthcoming General Meeting on 11 March 2016.  A full copy of the circular issued in relation to this General Meeting can be viewed on the ZimNRG website (http://www.isdx.com/forcompanies/ourcompanies/companydetail/default.aspx?securityid=11071).

 

Following shareholder approval, ZimNRG will change its name to MetalNRG plc and will adopt a new investing policy as outlined in the circular referenced above. 

 

The investment in ZimNRG is the first step in the broadening of the Metal Tiger network of interests in other publicly listed companies through transactions providing Metal Tiger a significant proportionate holding. Subject to ZimNRG shareholder approval Paul Johnson, CEO of Metal Tiger, is to join the Board of ZimNRG as a Non-Executive Director in order to oversee MTR's investment. In the year ended 28 February 2015,  ZimNRG made loss after tax of £28,588. ZimNRG has net assets £137,972 as at 31 August 2015.

 

Paul Johnson, Chief Executive Officer of Metal Tiger plc commented: "Metal Tiger is currently working with a number of ISDX and AIM quoted companies to form strategic working relationships and provide a network of channels through which investment initiatives and opportunities can be channelled.  ZimNRG (MetalNRG) is the first such relationship to crystallise.

 

If one assumes we are at or near the bottom in the mineral sector cyclical downturn, then we sit with a tremendous opportunity to create value from natural resource investing opportunities.  By channelling some of our energy and ideas into third party vehicles, in which Metal Tiger holds a material stake, we can continue to drive the value of the Metal Tiger business as a whole."

 

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

 

Paul Johnson (Chief Executive Officer)


Tel: +44 (0)7766 465 617

Terry Grammer (Non- Executive Chairman)


Tel: +44 (0)207 099 0738

Sean Wyndham-Quin

Neil Baldwin

Nick Emerson

Andy Thacker

Spark Advisory Partners Limited

(Nominated Adviser)

SI Capital

(Sole Broker)

 

Tel: +44 (0) 2033 683 555

www.sparkadvisorypartners.com

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 Projects and Direct Equities. 

 

The Direct Projects division invests in mineral exploration projects operated by trusted partners on the ground.  Projects are selected for their strategic significance in terms of commodity, location and commerciality factors.  Key strategic investments to date include Spanish Gold & Tungsten, Thai Gold, Copper & Antimony, and Botswanan Copper & Silver. 

 

The Direct Equities division invests in quoted natural resource explorers and developers, with a combination of shares and warrants and seeks generate trading profits for reinvestment into the Direct Projects division.

 

Metal Tiger's target is to deliver a very 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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