Metal Tiger PLC Thailand Acquisition - Corporate Update (2998M)
January 19 2016 - 5:26AM
UK Regulatory
TIDMMTR
RNS Number : 2998M
Metal Tiger PLC
19 January 2016
Metal Tiger Plc
19 January 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
Thailand Acquisition - Corporate Update
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource opportunities is pleased to
announce an update in relation to the Company's corporate
activities in Thailand.
On 24 November 2015 Metal Tiger announced the option to acquire
90% of the remaining South East Asia Mining ("SEAM") Thailand
operations and assets including licences in application. This
option was agreed following extensive review by Metal Tiger of the
interests held by SEAM and the potential additional value such an
acquisition could bring to Metal Tiger today, and more importantly
going forward.
The acquisition was subject to two principle stages and firstly
the approval of the transaction by SEAM shareholders.
Metal Tiger can confirm that during a meeting of SEAM
shareholders on 12 January 2015 the transaction with Metal Tiger
was approved and is now in a position to proceed subject to Metal
Tiger electing to proceed and exercise its option to acquire
SEAM.
Due diligence work is continuing and in recent weeks Metal Tiger
has been on the ground with its technical advisors to assess the
Thailand operations and to determine the technical and commercial
viability of the proposed acquisition.
Progress with due diligence has been very positive to date from
a technical perspective and whilst we remain optimistic that this
transaction will proceed as planned, there can be no guarantee at
this time that Metal Tiger will elect to exercise the option. We
are continuing to complete a number of standard due diligence steps
and will report back to the market in due course.
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
Nick Emerson (Nominated Adviser) www.sparkadvisorypartners.com
Andy Thacker SI Capital Tel: +44 (0) 1483
(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 Projects and
Direct Equities.
The Direct Projects division invests in mineral exploration
projects operated by trusted partners on the ground. Projects are
selected for their strategic significant in terms of commodity,
location and commerciality factors. Key strategic investments to
date include Spanish Gold & Tungsten, Thai Gold, Copper &
Antimony, and Botswanan Copper & Silver.
The Direct Equities division invests in quoted natural resource
explorers and developers, with a combination of shares and warrants
and seeks generate trading profits for reinvestment into the Direct
Projects division.
Metal Tiger'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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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