Metal Tiger PLC MOD Resources-Court Approves Scheme of Arrangement (1059P)
08 Ottobre 2019 - 8:16AM
UK Regulatory
TIDMMTR
RNS Number : 1059P
Metal Tiger PLC
08 October 2019
8 October 2019
Metal Tiger plc
("Metal Tiger" or the "Company")
MOD Resources Update - Court Approves Scheme of Arrangement
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, is pleased
note the announcement made by MOD Resources Ltd ("MOD")
(ASX/LSE:MOD), which notes that the Supreme Court of Western
Australia has made orders approving the scheme of arrangement by
which Sandfire Resources NL ("Sandfire") will acquire all of the
issued shares of MOD.
Pursuant to Section 411(10) of the Corporations Act 2001, the
Scheme will become legally effective upon lodgment of the Court
orders with the Australian Securities and Investments Commission
(ASIC).
It is expected that a copy of the Court orders will be lodged
with ASIC tomorrow, at which time the Scheme will become legally
effective. If this occurs, MOD's shares will be suspended from
trading on the ASX at the close of trade tomorrow.
Metal Tiger's MOD shares which upon completion will equate to
94,834,181 MOD shareswill therefore be exchanged for 0.0664
Sandfire shares for every MOD share held, equivalent to 6,296,990
new shares in Sandfire. It is expected that Sandfire shares will be
issued to Metal Tiger and other MOD shareholders on 23 October
2019. Metal Tiger will also be granted its 2% Net Smelter Royalty
over the exploration joint venture area.
The full text of the MOD announcement can be read using the
following link:
https://www.asx.com.au/asxpdf/20191008/pdf/4499cw4xj1smbl.pdf
For further information on the Company, visit:
http://www.metaltigerplc.com:
Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 7099
0738
Mark Potter (Chief Investment Officer)
Richard Tulloch Strand Hanson Limited (Nominated Tel +44 (0)20 7409
James Dance Adviser) 3494
Jack Botros
Nick Emerson SI Capital (Broker) Tel: +44 (0)1483
413 500
Gordon Poole Camarco (Financial PR) Tel: +44 (0)20 3757
James Crothers 4980
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 TSX and the ASX, which includes its 19.9% interest in MOD
Resources Limited. 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, 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
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October 08, 2019 02:16 ET (06:16 GMT)
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