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General Meeting Update and Statement

Metal Tiger Plc

1 November 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

GENERAL MEETING UPDATE AND STATEMENT

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to announce that both resolutions placed before the General Meeting held earlier today were passed.

Alex Borrelli Chief Executive Officer of Metal Tiger said “I am pleased to confirm that at the General Meeting today both the resolutions were approved unanimously by shareholders.

Approval by shareholders of the Capital Reduction process and share buy back facility is a ratification of the stated policy of the Company which is to seek, where practical and realistic, the ability to return value generated to shareholders through a proactive distribution policy.

Further information on the Capital Reduction process and the Distribution Policy are provided below.”

Capital Reduction

The Company is to apply to the High Court to obtain approval to implement a reduction in the share capital of the company by cancelling the existing deferred shares and cancelling the share premium account.

The Capital Reduction also required shareholder approval which was the main purpose of the General Meeting.

The Capital Reduction process is a standard and largely administrative process. It will not change the number of ordinary shares in issue or the current nominal value of the Company’s ordinary shares.

The process merely permits a Company carrying historical retained losses to distribute cash or other interests to shareholders following completion of the process. This could not be done otherwise because Company law prohibits distribution when the Company’s accounts show historical retained losses.

Distribution Policy

Subject to the approval of the High Court of the Capital Reduction, the Company may wish to distribute cash or other interests to shareholders. This may occur in various circumstances and could include where the Company disposes of an interest for cash or equity and wishes to return some or all of the value generated to shareholders. Such distributions may also require further shareholder approval under market rules. Shareholders should be aware that until a distribution is formally announced there is no certainty that any such distribution will occur.

To be clear any such distributions would only be made by reference to shareholders on the register at a specified record time and date. Holders of warrants and options who have not exercised the same at the specified time and date would not be entitled to participate in a distribution.

The Company reserves the right to announce distributions without notice and it is the Company’s intention that, subject to relevant laws and regulations any distribution announcement will incorporate a contemporaneous record date.

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

   
Alex Borrelli

(Chief Executive Officer)

Tel: +44 (0)207 099 0738
Terry Grammer

(Non-Executive Chairman)

Tel: +44 (0)207 099 0738
Sean Wyndham-Quin

 

Neil Baldwin

Spark Advisory Partners Limited

 

(Nominated Adviser)

Tel: +44 (0)2033 683 555

 

 

www.sparkadvisorypartners.com

Nick Emerson

 

Andy Thacker

SI Capital

 

(Joint Broker)

Tel: +44 (0) 1483 413 500
Andrew Monk

 

Andrew Raca

VSA Capital Limited

 

(Financial Adviser and Joint Broker)

Tel +44 (0) 20 3005 5000

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.

Copyright Business Wire 2016