Metal Tiger PLC Issue of Equity (5820O)
February 09 2016 - 12:59PM
UK Regulatory
TIDMMTR
RNS Number : 5820O
Metal Tiger PLC
09 February 2016
Metal Tiger Plc
9 February 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
Issue of Equity for Services
Metal Tiger (LON: MTR), the natural resources investing company
is pleased advise that the Company has agreed to issue 4,250,000
shares in lieu of cash for marketing, communications and other
professional services provided to the company.
The shares are to be issued at 1p representing a premium of
11.1% against the mid-market price of Metal Tiger shares at close
of business on 8(th) February 2016.
Paul Johnson, Metal Tiger CEO commented: "In today's environment
most service providers are eager to receive cash for services,
however, in this case we were asked to consider that payment be
made in Metal Tiger shares in lieu of cash. This is a great
endorsement for the Company and its strategic plans and on this
basis we were happy to undertake this modest additional issue of
equity.
Metal Tiger is highly active at present and further
announcements are likely to be made in the near future across a
number of areas of the Company's investment activities."
Issue of Equity Summary
Metal Tiger has agreed to the issue of 4,250,000 Metal Tiger new
ordinary shares at price per share of 1p (the "Placing
Shares").
The 4,250,000 shares are expected to be admitted to trading on
or around 18th February 2016 following the issue of shares the
number of ordinary shares in issue in the Company will increase to
419,000,795. For the purposes of the Financial Conduct Authority's
Disclosure and Transparency Rules ("DTRs"), the issued ordinary
share capital of Metal Tiger following this allotment consists of
419,000,795 ordinary shares with voting rights attached (one vote
per share). There are no shares held in treasury. This total voting
rights figure may be used by shareholders as the denominator for
the calculation by which they will determine whether they are
required to notify their interest in, or a change to their interest
in, Metal Tiger under the DTRs.
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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