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RNS Number : 6371U
Metal Tiger PLC
30 July 2015
Metal Tiger Plc
30 July 2015
Metal Tiger Plc
("Metal Tiger" or the "Company")
AGM Update and Statement
Metal Tiger (LON: MTR), the natural resources investing company
is pleased to advise that at the AGM held at 4.00pm on Thursday
30(th) July 2015 all resolutions placed before the meeting were
passed. Details of the resolutions are provided below for reference
purposes.
In addition, following the passing of the resolutions, the
following statement was read to the meeting by Cameron Parry, CEO
of Metal Tiger:
"I would like to thank all shareholders who voted in the Annual
General Meeting, and for those attending here today. We are also
grateful for the support of our shareholders over the last
year.
Despite the challenging sector conditions, Metal Tiger has made
tremendous progress, with substantial gains made in the Direct
Equities division. We strive to be a strong financing partner for
investees, and for example reinvested significant profits achieved
in Kibo Mining and Eurasia Mining with an early conversion of 3
year warrants. But alongside supporting investee companies we also
have a duty to crystallise gains and redeploy capital in new
opportunities, which we do proactively.
The Direct Projects division is active with investments in a
successful Tungsten/Gold project in Spain, an intriguing
Gold/Antimony project in Thailand and the Company also awaits
initial data from its Gold Joint Venture with Kibo Mining in
Tanzania.
The Direct Projects division collaborations continue with Ariana
Resources in Turkey and Eurasia Mining in Russia, seeking out new
precious metals opportunities. We are optimistic of progress on
both fronts this year.
And we are pleased to confirm the Company's search for new
opportunities in precious and strategic metals is highly advanced,
with late stage discussions taking place with regard to a
potentially high grade gold opportunity with near term production
potential. Whilst there can be no assurance that a deal will be
signed and announced, we are of the view that in today's
challenging markets, only the best projects and opportunities
deserve Metal Tiger's attention and Company's capital.
We are well funded, well prepared and sensibly aggressive; and
ready for the cycle to turn in favour of resource investors. We
note the varied speculation surrounding the Company and its
activities. It is particularly encouraging to be the subject of
market participant conversations, whether those are derived from
positive or negative perspectives. We welcome investor feedback on
our work and business approach. We intend to build a diversified
and highly valuable mineral resource exploration and development
investing company. And so far so good, however there is still much
work to do."
Resolutions Passed at the Metal Tiger plc Annual General Meeting
30.7.15, London
Resolution 1 - Receiving and Considering the Accounts
To receive and consider the financial statements of the Company
for the period ended 31 December 2014 together with the report of
the directors and the report of the auditors thereon.
Resolutions 2 - 4 Reappointment of Directors
The re-appointment of Mr Terry Grammer, Mr Cameron Parry and Mr
Paul Johnson who were appointed as Directors following the dispatch
of the notice of the Company's last annual general meeting. Each of
Mr Grammer, Mr Parry and and Mr Johnson, being eligible, offered
themselves for re-appointment.
Resolution 5 - Reappointment of Auditors
To authorise the re-appointment of BDO Stoy Hayward LLP as
auditors of the Company and to authorise the Directors to determine
their remuneration.
Resolution 6 - Directors' Authority to Allot Shares
To grant the Directors authority to allot and issue shares and
grant rights to subscribe for shares in the Company for the
purposes of Section 551 of the Companies Act 2006 ("Act") up to the
maximum aggregate nominal amount of GBP50,000. This resolution
replaces any existing authorities to issue shares in the Company
and the authority under this resolution will expire at the
conclusion of the next annual general meeting of the Company.
Resolution 7 - Disapplication of Pre-emption Rights
To dis-apply the statutory rights of pre-emption in respect of
the allotment of equity securities for cash under Section 561(1) of
the Act. This is a special resolution authorising the Directors to
issue equity securities as continuing authority up to an aggregate
nominal amount of GBP50,000 for cash on a non pre-emptive basis
pursuant to the authority conferred by Resolution 6 above.
The authority granted by this Resolution will expire at the
conclusion of next annual general meeting of the Company.
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 Tel: +44 (0)7766
Director) 465 617
Spark Advisory Partners Tel: +44 (0) 2033
Limited (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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