Sign up USA
Proactive Investors - Run By Investors For Investors

Metal Tiger chairman becomes largest shareholder

Grammer’s direct investment “will give investors justifiable confidence in the company's direction”, according to chief executive Cameron Parry.
Metal Tiger chairman becomes largest shareholder
The chairman will own 8% after buying £240,000 worth of shares

AIM quoted natural resource investor Metal Tiger (LON:MTR) has told investors that its chairman has become its largest shareholder following a share subscription.

Chairman Terry Grammer is personally investing £240,000 into the company, buying 30mln new shares at a price of 0.8p each – which was the mid-market price at the time the transaction was agreed.

Grammer also receives share warrants for a further 30mln new shares, exercisable at 1.6p over an eighteen month period.

Metal Tiger said the capital injection would be used to accelerate its activities.

Chief executive Cameron Parry highlighted that in the current resource market climate the magnitude if Grammer’s investment “would be noted by investors who currently hold shares and those monitoring Metal Tiger.”

“Terry has a history of involvement with companies that have multiplied early investors capital many fold. 

“His direct involvement in the identification of all three Metal Tiger strategic interests, followed by this substantial investment in the company, is something we trust will give investors justifiable confidence in the company's direction."

He added: “As a company over the last 18 months we have set our stall out in the resources sector in readiness for the inevitable recovery. 

“We have been fortunate that through trading gains and financings we have been able to acquire a trio of strategic resource project interests in Botswana, Spain and Thailand, each of which have tremendous upside potential.”

Grammer’s investment will see him own 8% of the AIM quoted company’s shares.

View full MTR profile View Profile

Metal Tiger Timeline

Related Articles

cobalt in periodic table
February 23 2018
Cruz is building an increasingly impressive portfolio of cobalt assets across North America
Picture of lithium cycle
May 10 2018
The inferred resource at Sadisdorf in Germany now stands at 25 million tonnes grading 0.45% lithium.
A sapphire
November 20 2017
Vered Toledo writes about mining in Israel and where Shefa Yamim A.T.M fits in
Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use