Singapore markets close in 7 hours 33 minutes
  • Straits Times Index

    3,225.85
    +7.68 (+0.24%)
     
  • Nikkei

    28,796.44
    -301.80 (-1.04%)
     
  • Hang Seng

    25,628.74
    0.00 (0.00%)
     
  • FTSE 100

    7,253.27
    -24.35 (-0.33%)
     
  • BTC-USD

    58,659.41
    -2,141.48 (-3.52%)
     
  • CMC Crypto 200

    1,403.73
    -70.60 (-4.79%)
     
  • S&P 500

    4,551.68
    -23.11 (-0.51%)
     
  • Dow

    35,490.69
    -266.19 (-0.74%)
     
  • Nasdaq

    15,235.84
    +0.12 (+0.00%)
     
  • Gold

    1,797.30
    -1.50 (-0.08%)
     
  • Crude Oil

    81.36
    -1.30 (-1.57%)
     
  • 10-Yr Bond

    1.5290
    -0.0900 (-5.56%)
     
  • FTSE Bursa Malaysia

    1,576.69
    -6.39 (-0.40%)
     
  • Jakarta Composite Index

    6,602.21
    -54.73 (-0.82%)
     
  • PSE Index

    7,230.15
    -21.95 (-0.30%)
     

Tranche 2 of the ASX Placing to raise A$5m (c.£2.677m)

  • Oops!
    Something went wrong.
    Please try again later.
·4-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

LONDON, September 20, 2021--(BUSINESS WIRE)--

20 September 2021

Metal Tiger plc

("Metal Tiger" or the "Company")

Tranche 2 of the ASX Placing to raise A$5m (c.£2.677m)

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 (Nominated Adviser)

Tel +44 (0)20 7409 3494

Paul Shackleton

Steve Douglas

Arden Partners plc (Broker)

Tel: +44 (0)20 7614 5900

Gordon Poole

James Crothers

Rebecca Waterworth

Camarco (Financial PR)

Tel: +44 (0)20 3757 4980

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/

Contacts

Metal Tiger plc

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting