Metal Tiger plc Transaction in own shares and cancellation of treasury shares
January 20 2020 - 2:00AM
UK Regulatory
TIDMMTR
20 January 2020
Metal Tiger plc
("Metal Tiger" or the "Company")
Transaction in own shares and cancellation of treasury
shares
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, announces
that it has made (through Arden Partners plc ("Arden") acting as
the Company's broker) the following redemptions pursuant to the
share buyback programme (the "Programme") announced on 19 December
2019.
Date of purchase 17 January 2020
Number of shares purchased 1,500,000
Highest price paid per share 1.31 pence
Lowest price paid per shares 1.31 pence
Volume weighted average price per share 1.31 pence
In addition, the Company announces that it has now cancelled
16,316,380 shares, previously held in treasury, being all of the
shares purchased by the Company between 19 December 2019 and 10
January 2020 pursuant to the Programme.
Notification of total voting rights in accordance with the FCA's
Disclosure and Transparency Rules provision 5.6.1R.
Following the repurchase of the shares and the separate
cancellation of shares (both as set out above), the Company's
issued share capital consists of 1,542,855,917 shares including
12,179,310 shares held in Treasury.
Hence, the figure of 1,530,676,607 may be used by shareholders
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest, in Metal Tiger under the FCA's Disclosure
and Transparency Rules. The Company will make further announcements
in due course following the completion of any further purchases
pursuant to the Programme.
In accordance with Article 5(1)(b) of the Market Abuse
Regulation (EU) No 596/2014 details of the purchase of its own
ordinary shares by the Company, which were all executed through
Arden are set out below:
Individual transactions:
Number Transaction price(pence Time oftransaction Tradingvenue
of sharespurchased per share)
1,500,000 1.31 16:02.38 LSE
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)
Richard Tulloch Strand Hanson Limited Tel +44 (0)20 7409 3494
(Nominated Adviser)
James Dance
Jack Botros
Paul Shackleton Arden Partners plc (Broker) Tel: +44 (0)20 7614 5900
Steve Douglas
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757 4980
James Crothers
Monique Perks
Notes to Editors:
Metal Tiger plc is admitted to the AIM market of the London
Stock Exchange ("AIM") with the trading code MTR and invests in
high potential mineral projects with a base, precious and strategic
metals focus.
The Company's target is to deliver a high return for
shareholders by investing in significantly undervalued and/or high
potential opportunities in the mineral exploration and development
sector. Metal Tiger has two investment divisions: Direct Equities
and Direct Projects.
The Direct Equities Division invests in undervalued natural
resource companies. The majority of its investments are listed on
AIM, the TSX and the ASX, which includes its 3.5% interest in
Sandfire Resources NL (ASX:SFR). The Company also considers
selective opportunities to invest in private natural resource
companies, typically where there is an identifiable path to IPO.
Through the trading of equities and warrants, Metal Tiger seeks to
generate cash for investment in the Direct Projects Division.
The Direct 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 through its interest
in Kalahari Metals Limited. In Spain, the Company has tungsten and
gold interests in the highly mineralised Extremadura region. In
Thailand, Metal Tiger has interests in two potentially
near-production stage lead/zinc/silver mines as well as licences,
applications and critical historical data covering antimony,
copper, gold, lead, zinc and silver opportunities.
The Company actively assesses new investment opportunities on an
on-going basis and has access to a diverse pipeline of new
opportunities in the natural resources and mining sectors. For
pipeline opportunities deemed sufficiently attractive, Metal Tiger
may invest in the project or entity by buying publicly listed
shares, by financing privately and/or by entering into a joint
venture.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200119005029/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
January 20, 2020 02:00 ET (07:00 GMT)
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