Metal Tiger PLC MOD Resources Update - Results of Meetings (2896O)
01 Ottobre 2019 - 8:19AM
UK Regulatory
TIDMMTR
RNS Number : 2896O
Metal Tiger PLC
01 October 2019
1 October 2019
Metal Tiger plc
("Metal Tiger" or the "Company")
MOD Resources Update - Results of Meetings
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, is pleased to
note the announcements made today by MOD Resources Ltd ("MOD")
(ASX/LSE: MOD), in which Metal Tiger has a 19.9% interest.
The MOD announcements, links to which are set out below, note
that, at both the General Meeting and the Scheme Meeting held
earlier today, MOD shareholders have approved, by the requisite
majorities, the scheme of arrangement by which Sandfire Resources
NL will acquire all of the ordinary shares of MOD.
The Scheme remains subject to a number of conditions as set out
in the Scheme Implementation Deed (a full copy of which is
disclosed within the Scheme Booklet, which is available on the ASX
website at www.asx.com.au and on MOD's website at
www.modresources.com.au), including:
-- the Supreme Court of Western Australia approving the Scheme
(Second Court Hearing);
-- the independent expert continuing to conclude that the Scheme
is in the best interests of shareholders; and
-- the satisfaction or waiver of any remaining conditions prior
to the Second Court Hearing.
Subject to these remaining conditions being satisfied or waived,
implementation of the transaction is expected to occur towards the
end of October 2019.
The full text of the MOD announcements can be read using the
following link:
https://www.asx.com.au/asxpdf/20191001/pdf/44938cn7ypgzbv.pdf
https://www.asx.com.au/asxpdf/20191001/pdf/449389s7wmwfj9.pdf
Subject to the condition of the Supreme Court of Western
Australia approving the Scheme (Second Court Hearing), it is the
intention of the Metal Tiger Board to send out a notice of a
general meeting of shareholders to seek approval from Metal Tiger
shareholders for a share buyback facility shortly after such
date.
Michael McNeilly, Chief Executive Officer of Metal Tiger
commented:
"The closing of the acquisition of MOD shares by Sandfire
resources is an important point in Metal Tiger's history and allows
the Company to retain its unique interest in the Kalahari Copper
Belt, which should drive further share price growth in addition to
the rest of its portfolio, whilst also allowing the Company to
consider future cash deployment. With this in mind, the Company is
considering future investments and believes that investing in
itself, via a share buyback, could be the best use of capital for
the Company. Eliminating discount to the net asset value of the
business is a key focus of the Board and we look forward to
updating the market on this workflow and the closing of the deal in
due course."
For further information on the Company, visit:
www.metaltigerplc.com:
Enquiries:
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
James Dance (Nominated Adviser)
Jack Botros
Nick Emerson SI Capital Limited Tel: +44 (0)1483 413 500
(Joint Broker)
Paul Shackleton Arden Partners plc Tel: +44 (0)20 7614 5900
Steve Douglas (Joint Broker)
Gordon Poole Camarco Tel: +44 (0)20 3757 4980
James Crothers (Financial PR)
Monique Perks
Notes to Editors:
Metal Tiger plc is admitted to the AIM market of the London
Stock Exchange AIM Market ("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 ASX and the TSX, which includes its 19.9% interest in MOD
Resources Limited. 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, through its joint venture with MOD and its
interest in Kalahari Metals Limited, has a growing interest in the
large and highly prospective Kalahari copper/silver belt. 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDMMMGGVMNGLZG
(END) Dow Jones Newswires
October 01, 2019 02:19 ET (06:19 GMT)
Grafico Azioni Metal Tiger (LSE:MTR)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Metal Tiger (LSE:MTR)
Storico
Da Apr 2023 a Apr 2024