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RNS Number : 0635T
Metal Tiger PLC
15 July 2015
METAL TIGER PLC
15 July 2015
Metal Tiger Plc
("Metal Tiger" or the "Company")
New World Oil and Gas Settlement Update
Metal Tiger (LON: MTR), the natural resources investing company
is pleased to update shareholders with regard to New World Oil and
Gas settlement. The Company also wishes to provide further
information in respect of the Company's forthcoming AGM and to
advise of amendments to certain notifiable shareholdings in the
Company.
New World Oil and Gas Settlement Update
On 26 May 2015 Metal Tiger announced that, following market
disposals of New World Oil and Gas (LON:NEW) shares totalling
GBP169,891.60, only GBP17,243.53 had been received by the Company
reflecting the limited proportion of stock delivered and settled on
the Company's stockbroking account.
Metal Tiger is now able to confirm that the Company has received
payment of the full balance of money due from New World Oil and Gas
disposals. In addition the Company has also received confirmation
that its remaining holding of 18,354,545 shares in New World Oil
and Gas has been settled on the Company's stockbroking account.
After deducting legal costs incurred to protect the Company's
position given the well reported settlement difficulties, and
trading commissions, from the gross settlement proceeds, Metal
Tiger has received a net GBP160,654.92 from the sales proceeds of
the 28,700,000 New World Oil and Gas Shares sold and retains a now
settled holding of 18,354,545 shares. This compares to an original
entry cost for 47,054,545 shares of GBP31,526.55.
The net proceeds received will be applied to further the current
and potential new interests in the Company's Direct Equities and
Direct Projects divisions.
Annual General Meeting
Shareholders are reminded that the Company's Annual General
Meeting is scheduled to take place at 4pm on 30 July 2015 at 200
Strand, London, WC2R 1DJ.
Copies of the AGM notice and proxy forms have been sent to
shareholders holding certificated stock and copies of both the
notice and proxy are lodged on the Company's website.
Holders of Metal Tiger shares in nominee accounts who wish to
attend & vote or to submit their votes without attendance,
should contact their nominee account provider and the provider will
be able to arrange this. It is advisable to do this as soon as
possible, to ensure your votes will be lodged in time.
Metal Tiger directors will be in attendance at the AGM and there
will be time to discuss shareholder and attendee questions about
the company during and after the AGM.
Should you be unable to attend the AGM but wish to raise a query
about the Company and its activities, please email
info@metaltigerplc.com.
Notifiable Shareholders
The Company has confirmed that following the recent issue of
shares on 29 June 2015, the notifiable holdings of certain
shareholders are:
Paternoster Resources plc - 26,977,675 shares - 8.88%
Black Star Gold Pty Limited - 19,880,000 - 6.54%
Mr Michael Joseph - 18,360,092 shares - 6.05%
The above are based on the shares in issue currently of
303,705,795, which will increase shortly to 308,375,795 after
admission of the new shares following conversion of 1p options
announced on 10 July 2015.
The Company's website will be updated with the above notifiable
holdings under the AIM Rule 26 section.
For further information on the Company, visit:
www.metaltigerplc.com:
Metal Tiger Plc
Cameron Parry (CEO) Tel: +44 (0)207 099
0738
Paul Johnson (Executive Director) Tel: +44 (0)7766 465
617
Spark Advisory Partners Limited Tel: +44 (0) 2033
(Nominated Adviser) 683 555
Sean Wyndham-Quin
Neil Baldwin
SI Capital (Sole Broker) Tel: +44 (0) 1483
Nick Emerson 413 500
Andy Thacker
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
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