ZimNRG plc Transaction Proceeds
Metal Tiger Plc
14 March 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
ZimNRG plc TRANSACTION PROCEEDS
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects, is pleased to announce that at a Shareholder General Meeting on 11th March 2016 held by ZimNRG plc (ISDX:ZIMO) all resolutions were duly approved.
Following approval by ZimNRG shareholders Metal Tiger has now invested £50,003 to acquire 19,027,268 ZimNRG shares representing a 28.25% holding. The investment will be held in the Metal Tiger Asset Trading Division.
Shareholders wishing to examine the basis of this investment should refer to Metal Tiger's announcement of 11th February 2016 within which the terms of the transaction were disclosed.
ZimNRG is now undertaking the process of changing its name to Metal NRG which will now pursue business transactions in line with a new investing policy an extract of which is provided below:
"The Company's proposed new Investing Policy is to invest in and/or acquire companies and/or projects within the natural resources and/or energy sector with potential for growth and value creation, over the medium to long term. The Company will also consider opportunities in other related sectors if the Board considers there is an opportunity to generate an attractive return for Shareholders. This will include natural resource technologies and fintech opportunities offering leverage to resource identification, processing, recording, storage and trading businesses."
Paul Johnson, Chief Executive Officer of Metal Tiger plc commented "we are delighted to see crystallisation of the ZimNRG transaction following shareholder approval. I have now joined the Board of ZimNRG to monitor and advance Metal Tiger's investment and look forward to working with the ZimNRG team to progress a number of new opportunities, some of which may emerge from Metal Tiger's pipeline of opportunities.
Metal Tiger is building relationships with a number of AIM and ISDX companies to provide a number of avenues through which initiatives and opportunities can be channelled. The ZimNRG transaction is the first to crystallise in this regard.
As Metal Tiger advances and grows, it is vital to focus the Company in the optimal manner to build value for shareholders. Recently the Company has made significant progress in its key strategic project investments including Botswana, Spain and Thailand. The Company's Board therefore see the need to focus the majority of our efforts on the strategic projects where there is potential for significant valuation uplift for shareholders.
By developing our external network through ISDX and AIM peers, we can make sure the focus of Metal Tiger is fixed on building our strategic project interests, whilst otherwise crystallising near term value and on-going working capital from the Company's pipeline of opportunities."
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
Spark Advisory Partners Limited
Tel: +44 (0) 2033 683 555
Tel: +44 (0) 1483 413 500
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company'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. The Company's key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger's Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand Metal Tiger has expanding interests over licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially may be undertaken by Metal Tiger or by an ISDX or AIM partner with whom the Company is engaged.
Metal Tiger also has an Asset Trading Division that holds various financial instruments for trading purposes including equities, warrants and royalty income. The aim of the division is to generate profits to reinvest into the Company's project based activities.
This information is provided by RNS