Shares Issued in respect of Thailand Joint Venture
Metal Tiger Plc
("Metal Tiger" or the "Company")
Shares Issued in respect of Thailand Joint Venture Agreement
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that further to the successfully concluded commercial negotiations and signed Joint Venture Agreement in respect of the Song Toh and Boh Yai Silver-Lead Zinc mines in Western Thailand as announced on 23 August 2016, the Company has issued US$400,000 (£303,360 as at yesterday's exchange rate) in new ordinary shares in Metal Tiger at 4.025p the closing mid-price on the date the transaction concluded and which equates to 7,536,894 Metal Tiger shares.
Paul Johnson, Chief Executive Officer of Metal Tiger plc commented: We are pleased to confirm the issue of shares in respect of the signed Joint Venture Agreement which marked a major positive step forward for Metal Tiger's investing activities in Thailand. The Joint Venture in Thailand is forging ahead and we look forward to providing further updates to the market in the near term.
Admission Details and Total Voting Rights
The 7,536,894 new ordinary shares are expected to be admitted to trading on or around 30 August 2016. Following the issue of the new ordinary shares, the number of ordinary shares in issue in the Company will increase to 580,810,113.
For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of Metal Tiger following this allotment consists 580,810,113 ordinary shares with voting rights attached (one vote per share). There are no shares held in treasury.
This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Metal Tiger under the DTRs.
The Company notes that following the issue of the 28,571,428 Placing Shares as announced on Wednesday 17 August 2016 as part of the Strategic Financing Update announcement, the number of ordinary shares in issue as at 1 September 2016 will be 609,381,541.
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||Spark Advisory||Tel: +44 (0) 2033 683 555|
|Neil Baldwin||Partners Limited|
|Nick Emerson||(Nominated Adviser)||www.sparkadvisorypartners.com|
|Andy Thacker||SI Capital (Sole Broker)||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 viable 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.
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Metal Tiger plc
Source: Metal Tiger plc