MTR Metal Tiger Plc

 
TIDMMTR 
 
 

Metal Tiger Plc

10 October 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

Strategic Update and Board Restructuring

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource projects is pleased to announce an update with regard to the Company's strategic plans and an associated board restructuring.

Highlights:

 
 
    -- Metal Tiger's core strategic plan is centred around the acquisition of 

high potential mineral exploration and development opportunities

through its Metal Projects division. The Company's ultimate objective

is to distribute the material value created to shareholders through

cash and equity distributions;

 
    -- Metal Tiger is applying to the High Court for, subject to shareholders 

ratification at a General Meeting, a cancellation of the existing

Share Premium Account (termed a Capital Reduction) enabling the

Company to undertake a distribution of cash or equity holdings to

shareholders should circumstances present an opportunity to do so. By

way of example this could arise if a current or future interest in the

Metal Project division is sold for cash or equity, or if an interest

is spun-out into an IPO or reverse-takeover vehicle. Shareholders

should be aware that until a distribution is formally announced there

is no certainty that any such distribution will occur;

 
    -- Details of the General Meeting to ratify the application to the High 

Court above will be provided to the market shortly. This General

Meeting will also include a resolution allowing the Company to buy

back its own shares with the intention of taking such shares into

treasury or for cancellation as the Company's board deems appropriate;

 
    -- The Company further intends to accelerate efforts to crystallise value 

from its new project pipeline that may also generate additional value

for shareholders. This will be achieved by applying a dedicated

portion of Company management and financial resources, in conjunction

with that of external consultants, to efficiently investigate new

opportunities for inclusion within the Metal Tiger portfolio or to be

held through third party vehicles, including but not restricted to

investee companies;

 
    -- To undertake the latter, the Metal Tiger Asset Trading division is to 

expand and will from today's date encompass the following activities:

management of existing Asset Trading division equity, warrant and

royalty investment activities;

continuation of initiatives to secure value crystallisation from

existing Metal Project interests with any value crystallised to

initially sit with Asset Trading pending a decision to distribute

to shareholders; and

implementation of measures to secure value from new project

pipeline with projects considered for inclusion within the

Company's Metal Projects division, or third party vehicles

including investee companies.

 
    -- Metal Tiger is to restructure its board with Alex Borrelli, current 

Non-executive director to become Chief Executive Officer with effect

from 17 October 2016 and holding responsibility for overall management

and administration of the Company;

 
    -- Concurrently, Paul Johnson to step down from the board with effect 

from 17 October 2016 to undertake a senior consultancy role for Metal

Tiger assisting with management of the Asset Trading division. The

role will be specifically focused on new project pipeline development

and the crystallisation of value from current and pipeline interests,

enabling distributions to shareholders to be considered. In addition

Mr Johnson will also assist the Company with regard to public and

investor relations to ensure the communications strategy employed by

the Company to date is maintained; and

 
    -- Metal Tiger intends to appoint an additional Non-executive director in 

the near term.

Paul Johnson, outgoing Chief Executive Officer of Metal Tiger commented "I am very pleased to announce this restructuring. Given the progress achieved, it is the view of the Board that it is paramount to have the CEO role undertaken by someone with the management skills, discipline and market recognition needed to pursue significant growth of the Company's valuation and increase the extent of institutional engagement with the Company.

Alex Borrelli has the right mix of leadership skills and market presence and I am delighted he is willing and able to take on this role. I say this having worked with Alex for two years and with my family holding 9,600,000 MTR shares and 15,830,000 options.

I am delighted to move into this senior consultancy role for the company, assisting with the new project pipeline, value crystallisation and asset trading which is where I wish to spend my time, generating value for shareholders. I will also be working with Alex for at least a further 12 months, assisting with public and investor relations.

I believe we are entering into a particularly exciting phase for the Company and I intend to devote considerable personal time to develop Company interests where to date, with the heavy administrative and managerial responsibilities of running the public company, I have not been able to focus."

Alex Borrelli, incoming Chief Executive Officer of Metal Tiger plc commented: "I am delighted to take the position of Chief Executive Officer of Metal Tiger and am honoured by the trust the Company has placed in me as I take on this role.

Metal Tiger is a unique company, having been brought to its current strong position by a team of energetic management drivers, who have worked with the incisive project knowledge demonstrated by our Chairman Terry Grammer, to access highly valuable opportunities in Botswana, Spain and Thailand each of which offers, in the view of the board, considerable upside potential.

With the key business interests now in place the Company needs to focus and drive the value in each separately. This is a considerable management commitment and the Board recognise that to maximise the return for shareholders there must be a focused management approach. This restructuring provides that focus for Metal Tiger plc."

For further information on the Company, visit: www.metaltigerplc.com:

 
Paul Johnson (Chief                              Tel: +44 (0)7766 465617 
Executive Officer) 
Terry Grammer (Non- 
Executive 
Chairman) 
Sean Wyndham-Quin      Spark Advisory Partners   Tel: +44 (0) 
                       Limited                   2033 683 555 
Neil Baldwin           (Nominated Adviser)       www.sparkadvisorypartners.com 
Nick Emerson           SI Capital                Tel: +44 (0) 
                                                 1483 413 500 
Andy Thacker           (Sole Broker) 
 
 

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.

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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161009005062/en/

 
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(END) Dow Jones Newswires

October 10, 2016 02:00 ET (06:00 GMT)