Metal Tiger plc Director Participation of GBP66,000 in Placing

 
TIDMMTR 
 
 

07 August, 2018

Metal Tiger Plc

("Metal Tiger" or the "Company")

Director Participation of GBP66,000 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 GBP66,000 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 GBP3.516m. Charles Hall, Non-Executive Chairman, will be subscribing for GBP56,000 and Michael McNeilly, Chief Executive Officer, for GBP10,000.

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

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   Tel: [phone] 
                   (Metal Tiger plc) 
Mark Potter        Chief Investment Officer  Tel: [phone] 
                   (Metal Tiger plc) 
Stephen Allen      RFC Ambrian Ltd           Tel: [phone] 
Bhavesh Patel      (Nominated Adviser) 
Charlie Cryer      RFC Ambrian Ltd           Tel: [phone] 
                   (Joint Broker) 
Nick Emerson       SI Capital                Tel: [phone] 
                   (Joint Broker) 
Gordon Poole       Camarco                   Tel: [phone] 
James Crothers     (Financial PR) 
Monique Perks 
 
 

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180806005488/en/

 
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(END) Dow Jones Newswires

August 07, 2018 02:00 ET (06:00 GMT)