11th May 2017 10:55
Metal Tiger Plc
11 May 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Options Grant and Issue of Equity
Metal Tiger (LON: MTR), is pleased to announce that further to the recommendation of the remuneration committee (comprising Charles Hall, Non-Executive Chairman and Mark Potter, Non-Executive Director), the Board has approved the following performance share options (“New Options”) to existing Directors and an as of today unallocated pool of options to be allocated to key staff and management (the “Unallocated Key Staff and Management Options Pool”).
All New Options will vest immediately but only be exercisable whilst the director or staff or key management remains in the employments of the Company or any time after 12 month’s service from today’s date.
The New Options are to be awarded as follows:
| Director | Position | Number of Options | Exercise Price | Expiry Date | |||||
| Charles Hall | Non-Executive Chairman | 5,000,000 | 6p | 11.05.2022 | |||||
| Michael McNeilly | Chief Executive Officer | 10,000,000 | 6p | 11.05.2022 | |||||
| Keith Springall | Finance Director | 5,000,000 | 6p | 11.05.2022 | |||||
| Alastair Middleton | Technical Director | 5,000,000 | 6p | 11.05.2022 | |||||
| Geoff McIntyre | Non-Executive Director | 2,000,000 | 6p | 11.05.2022 | |||||
| Terry Grammer | Non-Executive Director | 2,000,000 | 6p | 11.05.2022 | |||||
| Mark Potter | Non-Executive Director | 4,000,000 | 6p | 11.05.2022 |
Unallocated Key Staff and Management Options Pool: 12,000,000 New Options
Following the issue of the New Options above the total options held by the Board will be as follows:
| Director | Position | Number of Options | Exercise Price | Expiry Date | |||||
| Charles Hall | Non-Executive Chairman | 3,000,000 5,000,000 | 3p 6p | 18.01.2020 11.05.2022 | |||||
| Michael McNeilly | Chief Executive Officer* | 2,000,000 7,500,000 10,000,000 | 2p 3p 6p | 21.06.2019 18.01.2020 11.05.2022 | |||||
| Keith Springall | Finance Director* | 2,500,000 5,000,000 5,000,000 | 2p 3p 6p | 21.06.2019 18.01.2020 11.05.2022 | |||||
| Alastair Middleton | Technical Director | 500,000 4,500,000 5,000,000 | 2p 3p 6p | 21.06.2019 18.01.2020 11.05.2022 | |||||
| Geoff McIntyre | Non-Executive Director | 1,750,000 3,000,000 2,000,000 | 2p 3p 6p | 21.06.2019 18.01.2020 11.05.2022 | |||||
| Terry Grammer | Non-Executive Director | 3,335,000 3,330,000 5,000,000 2,000,000 2,000,000 | 1.5p 2p 2p 3p 6p | 15.12.2017 02.07.2018 31.05.2019 18.01.2020 11.05.2022 | |||||
| Mark Potter | Non-Executive Director | 1,000,000 4,000,000 | 3p 6p | 18.01.2020 11.05.2022 |
* Options awarded under the Staff and Partner Options award approved by Shareholders at General Meeting (31.05.16)
Issue of Shares to Director
Under the terms of Alastair Middleton’s service agreement, he is entitled to a bonus of £12,000 to be taken in new ordinary shares in Metal Tiger plc. The Board and Alastair Middleton have mutually agreed to issue these bonus shares at 3p per share and therefore the Company is issuing 400,000 new ordinary shares in the Company to Alastair Middleton (the “Bonus Shares”).
The Bonus Shares are expected to be admitted to trading on or around 17 May 2017. Following the issue of the 400,000 Bonus Shares, the number of ordinary shares in issue in the Company will increase to 955,941,843 ordinary shares with one voting right each. 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 consists of 955,941,843 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.
For further information on the Company, visit: www.metaltigerplc.com:
| Michael McNeilly (Chief Executive Officer) | Tel: +44(0)20 7099 0738 | ||||
| Keith Springall (Finance Director & Company Secretary) | Tel: +44 (0)207099 0738 | ||||
| Sean Wyndham-Quin Neil Baldwin | Spark Advisory Partners Limited (Nominated Adviser) | Tel: +44 (0) 2033 683 555
www.sparkadvisorypartners.com | |||
| Nick Emerson Andy Thacker | SI Capital (Joint Broker) | Tel: +44 (0)1483 413 500 | |||
| Andrew Monk Andrew Raca | VSA Capital Limited (Joint Broker) | Tel: +44 (0)20 3005 5000 | |||
| Gordon Poole James Crothers | Camarco (Financial PR) | Tel: +44 (0)203 757 4980 |
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM Market (“AIM”) with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.
The Company’s target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company’s key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.
Metal Tiger’s Metal 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. In Spain Metal Tiger the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand Metal Tiger has expanding interests over licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.
The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an AIM or NEX Exchange (formerly ISDX) partner with whom the Company is engaged.
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