Metal Tiger plc On Market Sale MOD Resources Limited
January 31 2019 - 2:07AM
UK Regulatory
TIDMMTR
Metal Tiger Plc
("Metal Tiger" or the "Company")
On market sale - MOD Resources Limited
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, is pleased to
announce that it sold, on market, 1,500,000 shares in MOD Resources
Limited ("MOD") (ASX:MOD) at an average price of AU$0.3062 per
share for total proceeds of circa AU$459,000 (GBP254,000).
Metal Tiger now holds 29,564,220 MOD shares representing 10.47%
of the issued share capital of MOD, 40,673,566 unquoted options
with a nil exercise price and expiring on 15 November 2021, and
154,167 options over MOD shares, each exercisable at AU$0.06 per
MOD share on or before 15 April 2019.
As previously announced, Metal Tiger confirms that it has made a
non-binding commitment to take up its 1 for 13 entitlements under
the MOD rights issue priced at A$0.24 per share announced on 21
January 2019 and the Board expects that this sale will cover the
majority of Metal Tiger's costs in taking up its entitlements under
the rights offering, should MTR do so, and that the net holding of
MOD shares will increase in the event Metal Tiger takes up its full
rights.
For the year ended 31 December 2017, MOD reported a loss of
AU$3.3 million. As at 30 June 2018, MOD reported net assets of
AU$45.8 million.
For further information on the Company, visit:
www.metaltigerplc.com:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 7099 0738
Mark Potter (Chief Investment Officer) Tel: +44 (0)20 7099 0738
Richard Tulloch Strand Hanson Limited Tel: +44 (0)20 3440 6800
James Dance (Nominated Adviser)
Jack Botros
Nick Emerson SI Capital Tel: +44 (0)1483 413 500
(Broker)
Gordon Poole Camarco Tel: +44 (0)20 3757 4980
James Crothers (Financial PR)
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190130005944/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
January 31, 2019 02:07 ET (07:07 GMT)
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