Metal Tiger plc Options Grant and Issue of Equity

 
TIDMMTR 
 
 

Metal Tiger Plc

11 May 2017

Metal Tiger Plc

("Metal Tiger" or the "Company")

Options Grant and Issue of Equity

Metal Tiger (LON: MTR), is pleased to announce that further to the recommendation of the remuneration committee (comprising Charles Hall, Non-Executive Chairman and Mark Potter, Non-Executive Director), the Board has approved the following performance share options ("New Options") to existing Directors and an as of today unallocated pool of options to be allocated to key staff and management (the "Unallocated Key Staff and Management Options Pool").

All New Options will vest immediately but only be exercisable whilst the director or staff or key management remains in the employments of the Company or any time after 12 month's service from today's date.

The New Options are to be awarded as follows:

 
Director        Position       Number of   Exercise Price  Expiry Date 
                               Options 
Charles Hall    Non-Executive  5,000,000   6p              11.05.2022 
                Chairman 
Michael         Chief          10,000,000  6p              11.05.2022 
McNeilly        Executive 
                Officer 
Keith           Finance        5,000,000   6p              11.05.2022 
Springall       Director 
Alastair        Technical      5,000,000   6p              11.05.2022 
Middleton       Director 
Geoff           Non-Executive  2,000,000   6p              11.05.2022 
McIntyre        Director 
Terry Grammer   Non-Executive  2,000,000   6p              11.05.2022 
                Director 
Mark Potter     Non-Executive  4,000,000   6p              11.05.2022 
                Director 
 
 

Unallocated Key Staff and Management Options Pool: 12,000,000 New Options

Following the issue of the New Options above the total options held by the Board will be as follows:

 
Director        Position       Number of   Exercise Price  Expiry Date 
                               Options 
Charles Hall    Non-Executive  3,000,000   3p              18.01.2020 
                Chairman       5,000,000   6p              11.05.2022 
Michael         Chief          2,000,000   2p              21.06.2019 
McNeilly        Executive      7,500,000   3p              18.01.2020 
                Officer*       10,000,000  6p              11.05.2022 
Keith           Finance        2,500,000   2p              21.06.2019 
Springall       Director*      5,000,000   3p              18.01.2020 
                               5,000,000   6p              11.05.2022 
Alastair        Technical      500,000     2p              21.06.2019 
Middleton       Director       4,500,000   3p              18.01.2020 
                               5,000,000   6p              11.05.2022 
Geoff           Non-Executive  1,750,000   2p              21.06.2019 
McIntyre        Director       3,000,000   3p              18.01.2020 
                               2,000,000   6p              11.05.2022 
Terry Grammer   Non-Executive  3,335,000   1.5p            15.12.2017 
                Director       3,330,000   2p              02.07.2018 
                               5,000,000   2p              31.05.2019 
                               2,000,000   3p              18.01.2020 
                               2,000,000   6p              11.05.2022 
Mark Potter     Non-Executive  1,000,000   3p              18.01.2020 
                Director       4,000,000   6p              11.05.2022 
 
 

* Options awarded under the Staff and Partner Options award approved by Shareholders at General Meeting (31.05.16)

Issue of Shares to Director

Under the terms of Alastair Middleton's service agreement, he is entitled to a bonus of GBP12,000 to be taken in new ordinary shares in Metal Tiger plc. The Board and Alastair Middleton have mutually agreed to issue these bonus shares at 3p per share and therefore the Company is issuing 400,000 new ordinary shares in the Company to Alastair Middleton (the "Bonus Shares").

The Bonus Shares are expected to be admitted to trading on or around 17 May 2017. Following the issue of the 400,000 Bonus Shares, the number of ordinary shares in issue in the Company will increase to 955,941,843 ordinary shares with one voting right each. 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 955,941,843 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                             Tel: [phone] 
Executive Officer) 
Keith Springall (Finance                            Tel: [phone] 
Director 
& Company Secretary) 
Sean Wyndham-Quin          Spark Advisory Partners  Tel: +44 (0) 
Neil Baldwin               Limited                  2033 683 555 
                           (Nominated Adviser) 
                                                    www.sparkadvisorypartners.com 
Nick Emerson               SI Capital               Tel: [phone] 
Andy Thacker               (Joint Broker) 
Andrew Monk                VSA Capital Limited      Tel: [phone] 
Andrew Raca                (Joint Broker) 
Gordon Poole               Camarco                  Tel: [phone] 
James Crothers             (Financial PR) 
 
 

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 AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170511005541/en/

 
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(END) Dow Jones Newswires

May 11, 2017 05:55 ET (09:55 GMT)