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Sale of shares in Metal Tiger plc

RNS Number : 2594U
Paternoster Resources PLC
05 April 2016
 

5 April 2016

 

Paternoster Resources plc

 

("Paternoster" or the "Company")

 

Sale of shares in Metal Tiger plc

 

Paternoster Resources plc, the investing company focused on the natural resources sector, is pleased to announce the sale of 6.28 million shares in Metal Tiger plc ("Metal Tiger") at an average price of 5.42 pence per share for a total consideration of £340,000 before expenses. This represents a 6.0 times return on this portion of Paternoster's original investment in Metal Tiger and it continues to hold 14.2 million shares, equating to a shareholding of 2.96%.

 

Nicholas Lee, Chairman said:

 

"Given the continued increase in the Metal Tiger share price, we believe that it is only prudent to realise more of the very significant return that we have made from this investment to date."

For more information please contact:

Paternoster Resources plc:


Nicholas Lee, Chairman

Matt Lofgran, Non-Executive Director

+44 20 7580 7576

+1 480 993 8933

 

Nominated Advisor and Joint Broker:


Stockdale Securities


Antonio Bossi/David Coaten

+44 20 7601 6100

 

Joint Broker:


Peterhouse Corporate Finance


Lucy Williams

+44 20 7562 3351

 

 

 


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