Metal Tiger PLC New World Oil & Gas Investment Update (9599M)
May 12 2015 - 10:19AM
UK Regulatory
TIDMMTR
RNS Number : 9599M
Metal Tiger PLC
12 May 2015
METAL TIGER PLC
12 May 2015
Metal Tiger plc
("Metal Tiger" or the "Company")
New World Oil & Gas Investment Update
Metal Tiger (LON: MTR), the natural resources investing company
acquired on market 47,054,545 on 29 April 2015 in New World Oil and
Gas ("New World") (LON:NEW), as announced via lodgement of a TR-1
Form on 30 April 2015 (as Metal Tiger became a notifiable
shareholder with 6.7% of New World). Metal Tiger lodged today a new
TR-1 form with New World as it no longer holds a notifiable
position (minimum 3%) in New World.
Metal Tiger confirms that the Company sold the majority of its
shares recently purchased in New World, during the course of Friday
the 8(th) of May and first half of Monday the 11(th) of May, at an
average sale price exceeding eight times that of its original price
paid per share and yielding an overall return to the Company in
excess of five times the total amount invested.
Metal Tiger has retained a strategic holding below a notifiable
level and notes the announcement made by New World yesterday
afternoon with regard to its proposed open offer. In this regard
Metal Tiger continues to assess its rights as a shareholder and
investigate the proposals put forth to New World shareholders.
Cameron Parry CEO of Metal Tiger stated: "Metal Tiger is pleased
to confirm the crystallisation of a substantial profit for
shareholders in respect of the Company's investment in New World
Oil and Gas. Metal Tiger has made more than five times that of its
total investment and still holds a significant, albeit not
notifiable, number of shares in New World. With regard to its
remaining equity position, Metal Tiger is keen to ensure that its
rights as a shareholder in New World are protected moving forward
and that all of our investee companies and their advisers act in
the best interests of shareholders.
The funds already generated by Metal Tiger's investment in New
World adds to Metal Tiger's existing working capital which places
the Company in an enviable cash position and enables it to
aggressively progress its business strategy, accelerate current
interests and pursue new opportunities."
For further information on the Company, visit:
www.metaltigerplc.com:
Cameron Parry Tel: +44 (0)207
(CEO) 099 0738
Paul Johnson Tel: +44 (0)7766
(Executive 465 617
Director)
Sean Wyndham-Quin Spark Advisory Partners Tel: +44 (0) 2033
Neil Baldwin Limited 683 555
(Nominated Adviser)
Nick Emerson SI Capital Limited Tel: +44 (0) 1483
Andy Thacker (Sole Broker) 413 500
Notes to Editors:
Metal Tiger Plc is a natural resources focused investing company
quoted on the London Stock Exchange AIM Market ("AIM") with the
trading code MTR and two investment divisions, Direct Equities and
Direct Projects.
The Direct Equities division invests in quoted natural resource
explorers and developers, with a combination of shares and warrants
providing a potential non-debt financing instrument and enhanced
return potential.
The Direct Projects division invests in operational mineral
exploration projects with current investments in Spanish Gold &
Tungsten, Thai Gold, Copper & Antimony, and Tanzanian Gold and
Uranium. The Direct Projects investment division also has working
collaborations to identify new investment opportunities in Russia
(platinum focus) and Turkey (gold focus), in association with
experienced in-country partners.
Metal Tiger's target is to deliver a 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPKBDDQBKDOPD
Metal Tiger (LSE:MTR)
Historical Stock Chart
From May 2024 to Jun 2024
Metal Tiger (LSE:MTR)
Historical Stock Chart
From Jun 2023 to Jun 2024
