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Metal Tiger (LON:MTR)

Metal Tiger (LON:MTR)


Share Price
2.12 p
Change
-0.0002 (-0.01 %)
Market Cap
£28.68 m
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Metal Tiger RNS Release

Director Participation of £66,000 in Placing


Director Participation of £66,000 in Placing

07 August, 2018

Metal Tiger Plc

(“Metal Tiger” or the “Company”)

Director Participation of £66,000 in Placing

Metal Tiger (LON: MTR), the natural resources investing company is pleased to announce that the directors of Metal Tiger will be participating for a total of £66,000 in the placing announced in the RNS of 6 August 2018 (the “Placing”), taking the total gross proceeds raised for the company by the Placing to circa £3.516m. Charles Hall, Non-Executive Chairman, will be subscribing for £56,000 and Michael McNeilly, Chief Executive Officer, for £10,000.

Further to the director’s participation, the company will issue 2,357,142 new ordinary shares in Metal Tiger at a placing price of 2.8p per ordinary share and 2,357,142 warrants to subscribe for 2,357,142 new ordinary shares in Metal Tiger at an exercise price of 5p per warrant, within a 3 year exercise period.

Director Shareholdings and Related Party Disclosures

Director   Position   Shares held prior to Placing   Placing Shares   Resultant shares held   Resultant % shareholding
Charles Hall Non-Executive Chairman 35,394,699 2,000,000 37,394,699 2.98%
Michael McNeilly Chief-Executive Officer 2,640,591 357,142 2,997,733 0.24%
Director   Position   Number of Warrants   Exercise Price   Expiry Date
Charles Hall Non-Executive Chairman 2,000,000 5p 13.08.2021
Michael McNeilly Chief Executive Officer 357,142 5p 13.08.2021

A total of 2,357,142 new ordinary shares are expected to be admitted to trading on or around 13 August 2018.

Following the issue of the new ordinary shares, the number of ordinary shares in issue in the Company will increase to 1,256,530,351. 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 of 1,256,530,351 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.

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

Michael McNeilly   Chief Executive Officer

(Metal Tiger plc)

  Tel: +44 (0)20 7099 0738
Mark Potter Chief Investment Officer

(Metal Tiger plc)

Tel: +44 (0)20 7099 0738
Stephen Allen
Bhavesh Patel
RFC Ambrian Ltd
(Nominated Adviser)
Tel: +44 (0)20 3440 6800
Charlie Cryer RFC Ambrian Ltd
(Joint Broker)
Tel: +44 (0)20 3440 6800
Nick Emerson SI Capital
(Joint Broker)
Tel: +44 (0)1483 413 500

Gordon Poole

James Crothers

Monique Perks

Camarco
(Financial PR)
Tel: +44 (0)20 3757 4980

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, the Company has tungsten and gold interests in the highly-mineralised Extremadura region. In Thailand, Metal Tiger has interests in two potentially near-production stage silver/lead/zinc mines as well as 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 AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.

Metal Tiger plc

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Newswire
October 01 2018
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