TIDMMTR
Metal Tiger plc (MTR)
15 November 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Investment Update - Request for Shareholder Meeting at Kingsgate
Consolidated Limited for Potential Board Changes
Metal Tiger plc (LON:MTR), announces that it has requested ASX
listed Kingsgate Consolidated Limited ("KCN") to call and hold a
general meeting of KCN shareholders to consider changes to the
board of KCN.
Metal Tiger owns 14,950,427 shares in KCN, representing a 6.7%
interest, and based on public disclosures by KCN, Metal Tiger is
KCN's largest shareholder and the only shareholder with an interest
of over 5% of KCN.
Metal Tiger's request for the meeting of KCN shareholders has
been made under Section 249D of the Australian Corporations Act
2001 (Cth) which enables any member, or group of members acting as
a collective, with at least 5% of the votes that may be cast at a
general meeting to request that the board of KCN convene and hold
the shareholder meeting.
Upon receipt of a Metal Tiger's valid request, the KCN directors
are required to call the meeting within 21 days of receiving the
request and the meeting is required to be arranged for a date not
later than 2 months after the request is given to KCN.
The proposed resolutions that Metal Tiger is seeking be put to
the KCN shareholders are that all existing KCN directors other than
Mr Peter Alexander be removed and that 5 new directors be appointed
to the KCN board, being three Metal Tiger directors:
-- Michael McNeilly;
-- Terry Grammer; and
-- Mark Potter,
and two independent candidates nominated by Metal Tiger,
namely:
-- Richard (Dick) Warburton; and
-- Neville Bergin.
Metal Tiger has decided to take this action in order to both
preserve and enhance the value of its shareholding.
Michael McNeilly, Chief Executive Officer of Metal Tiger
commented:
"Metal Tiger believes that KCN is in urgent need of board
renewal. The incumbent board has overseen a massive destruction of
shareholder value and failed to articulate a clear strategy going
forward. The Board of Metal Tiger shares the view that they are not
the right team to lead KCN in its current situation. I call on Ross
Smyth-Kirk, Sharon Skeggs and Peter Warren to meet our requests for
the benefit of all KCN shareholders."
Background on the independent candidates nominated by Metal
Tiger are set out below:
Richard (Dick) F E Warburton AO LVO
Dick is one of Australia's most experienced board members. He
has chaired or been director of public, private and government
boards over many years. He is currently Chairman of MFF Capital
Investments Ltd, a Director of O'Connell Street Associates and
Chairman of the Sydney Adventist Hospital Foundation board. Dick is
a former Chairman and CEO of Dupont Australia and New Zealand, and
worked with Dupont for 30 years in marketing, manufacturing,
technical and management roles in Australia, USA and Thailand. He
was a Board Member of the Reserve Bank of Australia, Chairman of
the Australian Board of Taxation, Caltex Australia Ltd, David Jones
Ltd, Westfield Retail Trust, Goldfields Ltd, and Wool International
and a Director of Scentre Group, Southcorp Ltd, Tabcorp Holdings
Ltd, Nufarm Ltd and other companies.
He was appointed an Officer in the Order of Australia in 2005
and a Lieutenant in the Royal Victorian Order in 2011.
Neville Bergin
Neville is a mining engineer with extensive experience
accumulated over four decades in the mining industry. He has had
exposure to a range of commodities and both underground and open
pit operational experience. His broad experience base encompasses
many operational and executive roles, together with around five
years' experience as a non-executive director of both ASX listed
and unlisted companies.
Neville has extensive experience in technical due diligence
having undertaken this type of investigation for several past
employers. He is also well versed in study management having
managed several feasibility studies. He has a BSc from the Camborne
School of Mines in the UK and currently runs his own mining
consultancy business.
For further information on the Company, visit:
www.metaltigerplc.com:
Michael McNeilly Tel: +44(0)20 7099 0738
(Chief
Executive Officer)
Keith Springall Tel: +44 (0)20 7099 0738
(Finance
Director
&
Company Secretary)
Stephen Allen or RFC Ambrian Ltd Tel +44 (0)20 3440 6800
Bhavesh Patel (Metal Tiger's
AIM Nominated Adviser)
Jonathan Williams RFC Ambrian Ltd Tel +44 (0)20 3440 6800
(Metal Tiger's AIM
Joint Broker)
Nick Emerson SI Capital Tel: +44 (0)1483 413 500
(Metal Tiger's
Joint Broker)
Gordon Poole Camarco Tel: +44 (0)20 3757 4980
James Crothers (Financial PR)
Australian Media
Michael Weir Citadel-MAGNUS +61 402 347 032
Yvonne Ball Citadel-MAGNUS +61 448 232 398
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,
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 silver/lead/zinc
mines as well as 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.
LEI - 213800K1IN6M1VCVPA93
Classification - 3.1
View source version on businesswire.com:
http://www.businesswire.com/news/home/20171114006817/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
November 15, 2017 02:30 ET (07:30 GMT)
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