TIDMMTR
RNS Number : 5009T
Metal Tiger PLC
30 March 2016
Metal Tiger Plc
30 March 2016
Metal Tiger Plc
("Metal Tiger" or the "Company")
DIRECTOR SHARE PURCHASE
Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed
investor in strategic natural resource projects, is pleased to
announce an acquisition of shares by Dianne Grammer wife of Terry
Grammer, Chairman of Metal Tiger plc.
Highlights:
-- Dianne Grammer to personally invest A$250,000 or circa
GBP132,431 through the issue of 4,815,667 ordinary shares in Metal
Tiger at 2.75p per share, raising GBP132,431 for the Company;
-- Dianne Grammer to receive 4,815,667 warrants to subscribe for
4,815,667 new ordinary shares in Metal Tiger at an exercise price
of 5.50p per warrant within an 18 month exercise period (i.e. one
warrant at 5.50p for each ordinary share purchased at 2.75p);
and
-- As with all placings undertaken in 2015 and 2016 the
additional funds raised will be used to accelerate Company
activities.
Paul Johnson, Chief Executive Officer of Metal Tiger plc
commented: "Metal Tiger has recently seen significant progress
across various company activities and notably with regard to the
Botswana and Thailand interests.
This acquisition of shares at 2.75p per share by Dianne Grammer,
the wife Company Chairman Terry Grammer, is a positive validation
of the Company's business model and is a statement of confidence
for existing shareholders and potential investors. Since July 2014
Metal Tiger Directors have invested GBP544,609 in purchases of
Company stock.
The investment made of GBP132,431 is a material sum to secure
from a single investor and save for the afternoon's trading
yesterday has been raised at a significant premium to the trading
level of the Company's shares during March 2016, or indeed since
the Metal Tiger business model came to AIM in mid 2014.
The Metal Tiger approach is to drive our business forward on a
proactive basis. This transaction, when combined with recent
warrant exercises and the appreciation in the value of our
shareholding in MOD Resources (ASX:MOD), means the Company has now
secured circa GBP1.25 million of additional working capital in the
last two weeks, over and above the working capital held
previously.
Additional working capital means Metal Tiger can invest more
proactively in our key strategic projects and expand our business
to build value for shareholders from what we believe is the early
stages of the recovery phase for the natural resource sector."
Placing and Subscription Summary:
Metal Tiger has agreed a placing with Dianne Grammer, the wife
of Terry Grammer, Chairman of Metal Tiger on 29 March 2016 to raise
A$250,000 or circa GBP132,431 gross proceeds through the issue of
4,815,667 Metal Tiger new ordinary shares at a price of 2.75p per
share (the "Placing Shares").
Each Placing Share has an accompanying warrant to subscribe for
an additional Metal Tiger new ordinary share at a price of 5.50p at
any time within 18 months following admission to trading of the
Placing Shares (a total of 4,815,667 warrants).
Under AIM Rules, Dianne Grammer being the Spouse of Terry
Grammer, Chairman of the Company, is deemed to be a Related Party
of the Company. Accordingly, the issue of Placing Shares and
accompanying warrants constitutes a Related Party transaction.
Where a company whose shares are quoted on AIM enters into such a
transaction, the requirement is for those Directors of the company
who are independent of the transaction to consider, after
consultation with the company's nominated adviser, whether the
terms of the transaction are fair and reasonable insofar as the
company's shareholders are concerned.
The independent Directors (being all of the Directors of the
Company except Terry Grammer) consider, having consulted with the
Company's Nominated Adviser, SPARK Advisory Partners Limited, that
the terms of the transaction with Dianne Grammer are fair and
reasonable in so far as the Company's shareholders are
concerned.
The Placing Shares are expected to be admitted to trading on or
around 8(th) April 2016. Following the issue of the new ordinary
shares, the number of ordinary shares in issue in the Company will
increase to 482,472,525. 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 482,472,525 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.
Director Transactions in Metal Tiger plc July 2014 to March
2016:
Date Director Trade Type Description No. Shares Price Amount
Paid (GBP)
(p)
29.03.16 Terry Grammer Spouse-Buy Placing 4,815,667 2.75 132,431
10.03.15 Paul Johnson Spouse-Buy On Market 250,000 1.39 3,475
09.03.16 Paul Johnson Buy On Market 250,000 1.28 3,200
Terry Grammer Option
09.03.16 Paul Johnson Buy Exercise 3,335,000 1.50 50,025
07.03.16 Paul Johnson Spouse-Buy On Market 500,000 1.25 6,250
04.03.16 Buy On Market 705,000 1.17 8,250
16.12.15 Paul Johnson Buy On Market 500,000 0.83 4,150
14.12.15 Terry Grammer Buy Placing 30,000,000 0.80 240,000
Cameron Option
10.07.15 Parry Buy Exercise 2,500,000 1.00 25,000
Option
10.07.15 Paul Johnson Buy Exercise 1,670,000 1.00 16,700
Option
10.07.15 Alex Borrelli Buy Exercise 500,000 1.00 5,000
06.07.15 Paul Johnson Buy On Market 1,500,000 0.97 14,500
29.12.14 Paul Johnson Buy On Market 250,000 0.98 2,440
15.12.14 Paul Johnson Buy On Market 375,000 0.85 3,188
18.07.14 Paul Johnson Buy Off Market 3,500,000 0.50 17,500
18.07.14 Alex Borrelli Buy Off Market 2,500,000 0.50 12,500
----------- --------
Total 53,150,667 544,609
(Note: the price paid in the table above and the % of issued
share capital in the table below have been rounded to two decimal
places)
Director Shareholdings (including related parties) in Metal
Tiger plc at 30th March 2016 (including this placement announced
today):
Amount
% of Invested
Issued
Director Shares Share Since
Held Capital July 2014
Terry Grammer
(Chairman) 38,150,667 7.91% GBP422,456
Paul Johnson
(CEO) 9,500,000 1.97% GBP79,653
Cameron Parry
(NED) 2,500,000 0.52% GBP25,000
Alex Borrelli
(NED) 5,400,000 1.12% GBP17,500
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 listed on the London Stock Exchange AIM
Market ("AIM") with the trading code MTR and invests in high
potential mineral projects with a precious and strategic metals
focus.
The Company'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. The Company's key strategic
objective is to ensure the distribution to shareholders of major
returns achieved from disposals.
Metal Tiger's Metal Projects Division is focused on the
development of its key project interests in Botswana, Spain and
Thailand. In Botswana Metal Tiger has a growing interest in the
large and highly prospective Kalahari copper/silver belt. In Spain
Metal Tiger the Company has tungsten and gold interests in the
highly mineralised Extremadura region. In Thailand Metal Tiger has
expanding interests over licences, applications and critical
historical data covering antimony, copper, gold, silver, lead and
zinc opportunities.
The Company has access to a diverse pipeline of new
opportunities focused on the natural resource sector including
physical resource projects, new natural resource centred
technologies and resource sector related fintech opportunities.
Pipeline projects deemed commercially viable may be undertaken by
Metal Tiger or by an ISDX or AIM partner with whom the Company is
engaged.
(MORE TO FOLLOW) Dow Jones Newswires
March 30, 2016 03:15 ET (07:15 GMT)
Metal Tiger also has an Asset Trading Division that holds
various financial instruments for trading purposes including
equities, warrants and royalty income. The aim of the division is
to generate profits to reinvest into the Company's project based
activities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSWGUWGWUPQUMU
(END) Dow Jones Newswires
March 30, 2016 03:15 ET (07:15 GMT)
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