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/
This information is provided by Business Wire
(END) Dow Jones Newswires
October 10, 2016 02:00 ET (06:00 GMT)
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