Metal Tiger PLC Management Restructuring (3078O)
February 08 2016 - 2:00AM
UK Regulatory
TIDMMTR
RNS Number : 3078O
Metal Tiger PLC
08 February 2016
Metal Tiger Plc
8 February 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
Management Restructuring
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource opportunities is pleased to
announce a restructuring of the Company's Board of Directors and
business management.
The role changes reflect the shifting needs of Metal Tiger as
the company has now advanced from early stage resource investor
into a diversified investing company in mineral exploration,
development and, potentially, production.
Board Changes:
With effect from Monday 8(th) February 2016 Mr Paul Johnson,
previously Executive Director, will assume the role of Chief
Executive Officer of Metal Tiger. Mr Cameron Parry, previously
Chief Executive Officer will assume the role of Non-Executive
Director.
The Board of the Company with effect from 8(th) February 2016
will comprise:
Mr Terry Grammer (Non-Executive Chairman)
Mr Paul Johnson (Chief Executive Officer)
Mr Cameron Parry (Non-Executive Director)
Mr Alex Borrelli (Non-Executive Director)
As part of his appointment Mr Johnson will receive an additional
7.5m share options vesting immediately in Metal Tiger, with a 3
year exercise period and an exercise price of 1.70p per share,
representing a premium of 100% to the closing share price on 5
February 2016.
Recognising the role changes, both Mr Johnson and Mr Parry will
offer themselves for re-election at the 2016 Annual General
Meeting. There is no requirement to do this, with both directors
having been successfully re-elected in 2015 for a 3 year term.
However both Mr Johnson and Mr Parry feel shareholders should be
asked to re-elect on the basis of the new roles undertaken by both
directors.
Company Secretarial Changes:
With effect from Monday 8(th) February Mr Michael McNeilly will
assume the role of Company Secretary to Metal Tiger plc, a role
previously undertaken by Mr Alex Borrelli a director of Metal
Tiger. The change reflects the need for a dedicated Company
Secretary to focus on the increasing compliance demands as the
company grows in substance and diversity.
Michael McNeilly is an experienced corporate professional with
many years experience working for two Nomads and having advised
several private, Main Market, AIM and ISDX listed companies on a
variety of corporate transactions.
Michael will be liaising with our experienced in-house
administrative and financial accounting support providing the
Company with a strong back-office team to deliver efficiently on
the varied requirements of managing a company listed on the London
Stock Exchange.
Paul Johnson, Chief Executive Officer of Metal Tiger plc
commented: "I am delighted to assume the role of Chief Executive
Officer of Metal Tiger plc and am grateful to Cameron for the hard
work and dedication that enabled Metal Tiger to be formed and to
grow so rapidly. Cameron and I have worked closely together since
mid 2014 and over that period tremendous effort has been applied to
bring Metal Tiger to this point.
I am extremely pleased to welcome Michael to the team as Company
Secretary and look forward to utilising his experience and skills
in that role. We will continue to build the Metal Tiger team with
highly experienced and capable members as we continue to develop
and grow and anticipate more appointments during the course of
2016.
Metal Tiger is now positioned with a portfolio including very
high potential mineral projects, solid working capital and a
pipeline of opportunities that could only exist during the
bottoming phase of a mineral sector cyclical downturn. It is a
highly exciting position to be in, however there is a substantial
amount of work to do to drive the value of our interests and
achieve the level of return for shareholders we desire. The first
stage of this work is the release to market of our strategic review
findings, as originally highlighted to market in our Shareholder
Letter announced on 6 January 2016.
With the size, scale and value potential of our business
interests this strategic review is designed to ensure we focus our
business structure and resources in an optimal manner to deliver
the highest return to shareholders."
For further information on the Company, visit:
www.metaltigerplc.com:
Paul Johnson Tel: +44 (0)7766
(Chief Executive 465 617
Officer)
Terry Grammer Tel: +44 (0)207
(Non- Executive 099 0738
Chairman)
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 significance 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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