6th Nov 2017 09:50
Metal Tiger plc (MTR)
Monday 6 November, 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Share Issue
On 7 March 2017 Metal Tiger advised it was required to issue new Metal Tiger shares in consideration for the termination of the rights to the holders of 514,500 warrants (“Warrants”) in KEMCO Mining plc (“KEMCO”) if the proposed KEMCO IPO had not been completed by 13 October 2017. Metal Tiger has now reached agreement to extend the 13 October deadline for the KEMCO IPO and the resulting automatic conversion of the Warrants to Metal Tiger shares to 28 February 2018 in respect of 204,500 of the Warrants.
Pursuant to their original terms, the remaining 310,000 Warrants have now been converted into Metal Tiger shares at a 20% discount to the 15 day VWAP post 13 October. This has resulted in Metal Tiger issuing 15,917,544 new shares at an issue price of 1.95p per share, with these shares being expected to commence trading on or around 13 November 2017.
Following this issue Metal Tiger has 1,037,979,645 issued shares
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)20 7099 0738 | |||
| Stephen Allen or Bhavesh Patel | RFC Ambrian Ltd (Nominated Adviser) | Tel +44 (0)20 3440 6800 | ||
| Jonathan Williams | RFC Ambrian Ltd (Joint Broker) | Tel +44 (0)20 3440 6800 | ||
| Nick Emerson | SI Capital (Joint Broker) | Tel: +44 (0)1483 413 500 | ||
| Gordon Poole James Crothers | Camarco (Financial PR) | Tel: +44 (0)20 3757 4980 |
LEI: 213800K1IN6M1VCVPA93
Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
View source version on businesswire.com: http://www.businesswire.com/news/home/20171106005606/en/
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Related Shares:
MTR.L