METAL TIGER PLC: Tranche 2 of the ASX Placing to raise A$5m (c.GBP2.677m)
September 20 2021 - 4:22AM
UK Regulatory
TIDMMTR
20 September 2021
Metal Tiger plc
("Metal Tiger" or the "Company")
Tranche 2 of the ASX Placing to raise A$5m (c.GBP2.677m)
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed
investor in natural resource opportunities, is pleased to announce
that further to the announcement on 26 July 2021 relating to a
conditional capital raising of A$5,000,000 (the "Placing") together
with the announcement on 15 September 2021 detailing the results of
the General Meeting of the shareholders, where all votes were
carried, the Company will now complete the second tranche of the
Placing ("Tranche 2"), being the issue of 2,702,703 new CHESS
Depositary Interests ("CDIs") to Cobre Limited ("Cobre"), which
will require 2,702,703 new ordinary shares of 0.1p each in the
capital of the Company ("Ordinary Shares") to be issued to Link
Asset Services, the Company's CHESS Sponsor.
Application will be made for the 2,702,703 new Ordinary Shares
to be issued pursuant to Tranche 2 of the Placing (the "Tranche 2
Shares"), which will rank pari passu with the Company's existing
Ordinary Shares, to be admitted to trading on the AIM market of the
London Stock Exchange ("Admission"). It is anticipated that
Admission will become effective at 8.00 a.m. on 24 September
2021.
Following the issue of the Tranche 2 Shares, the number of
Ordinary Shares in issue in the Company will increase to
169,423,576. 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 will consist
of 169,423,576 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 or the ASX Listing Rules.
*Metal Tiger is currently interested in 26,006,963 Cobre shares,
representing approximately 16.62% of Cobre's issued share capital.
As announced on 15 April 2021, Metal Tiger will be interested in an
additional 8,311,765 shares subject to shareholder approval of
Metal Tiger's participation in the Cobre Fundraise. In addition,
the Company expects to be issued a further 445,368 new Cobre shares
subject to certain conditions being met, as announced 15 December
2020. Assuming all of these further issuances of shares in Cobre
occur, Metal Tiger would be interested in approximately 21% of
Cobre Limited.
For further information on the Company, visit:
www.metaltigerplc.com
Enquiries:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 3287 5349
Mark Potter (Chief Investment Officer)
James Dance Strand Hanson Limited Tel +44 (0)20 7409 3494
(Nominated Adviser)
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
Rebecca Waterworth
Notes to Editors:
Metal Tiger PLC is admitted to the AIM market of the London
Stock Exchange AIM Market ("AIM") and the ASX Market of the
Australian Securities Exchange Market ("ASX") 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: Equity
Investments and Project Investments.
Equity Investments invests in undervalued natural resource
companies. The majority of its investments are listed on AIM, the
TSX and the ASX, which includes its interest in Sandfire Resources
Limited (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 for the Project Investments division.
Project Investments is focused on the development of its key
project interests in Botswana, where Metal Tiger has a growing
interest in the large and highly prospective Kalahari copper/silver
belt through its interest in Kalahari Metals Limited.
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/20210920005376/en/
CONTACT:
Metal Tiger plc
SOURCE: Metal Tiger plc
Copyright Business Wire 2021
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