LONDON--(BUSINESS WIRE)--
05 June 2020
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Execution of ISDA and CSA
Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has executed an International Swaps and Derivatives Association (“ISDA”) agreement and Credit Support Annex (“CSA”) with the same global investment bank with which it has the equity derivative financing arrangements subject to the Umbrella Agreement, as announced on 17 December 2019.
The execution of the ISDA agreement will allow Metal Tiger to obtain access to over-the-counter (“OTC”) derivatives including but not limited to equities, commodities and FX contracts.
The CSA essentially helps to stipulate the terms and conditions under which each party is required to post collateral to each other.
Michael McNeilly, the Chief Executive Officer of Metal Tiger commented: “The execution of these agreements expands the scope of the natural resources investment opportunities available to Metal Tiger and could also be applied to help Metal Tiger hedge currency risk. It has been put in place to allow the possibility of a more sophisticated investment approach going forward depending, as always, on the balance of the portfolio and the resources available to Metal Tiger at the time. Metal Tiger will update appropriate internal strategy and policy documents to help govern any OTC contracts entered into using this agreement to ensure appropriate risk management.”
This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014) (“MAR”).
For further information on the Company, visit www.metaltigerplc.com:
Michael McNeilly |
(Chief Executive Officer) |
Tel: +44 (0)20 7099 0738 |
Mark Potter |
(Chief Investment Officer) |
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Richard Tulloch James Dance Jack Botros |
Strand Hanson Limited (Nominated Adviser) |
Tel +44 (0)20 7409 3494 |
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Paul Shackleton Steve Douglas |
Arden Partners plc (Broker) |
Tel: +44 (0)20 7614 5900 |
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Gordon Poole James Crothers Hugo Liddy |
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") 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.