Tiger Royalties and Investments PLC Update on Metrock Investment (8748O)
12 Febrero 2021 - 1:00AM
UK Regulatory
TIDMTIR
RNS Number : 8748O
Tiger Royalties and Investments PLC
12 February 2021
For immediate release
12 February 2021
TIGER ROYALTIES AND INVESTMENTS PLC
("Tiger" or the "Company")
Update on Metrock Investment
Tiger Royalties and Investments PLC is pleased to announce that
further its announcement issued on 22 December 2020 , the
acquisition of Metrock Resources Ltd ("Metrock") by Bezant
Resources Plc ("Bezant") has now completed and accordingly Tiger is
due to receive 28,314,815 Bezant Shares ("New Shares") on 18
February 2021 as settlement of outstanding loans of GBP46,250 which
it has made to Metrock and the GBP30,200 fee due from Metrock.
Upon issue of the New Shares to Tiger, the Company's total
shareholding in Bezant will increase to 83,870,371 shares
representing 2.2% of the Bezant's enlarged issued share capital on
completion.
On the basis that the above transaction between Bezant and
Metrock has now been completed, Tiger is also entitled to a Net
Smelter Return ("NSR") of 2% on the Kanye Manganese asset which may
be purchased from the Company by Bezant for a payment of GBP1
million or on a partial basis at a buy-out rate of GBP250k per 0.5%
of the NSR.
Full details of the Company's original agreements between
Metrock and Tiger were set out in the Company's announcement of 12
October 2020 and 22 December 2020, unless otherwise defined herein,
key definitions used in this announcement shall have the same
meanings as given to them in such previous announcement.
For further information, please contact:
Tiger Royalties and
Investments Plc Raju Samtani Director +44 (0)20 7581 4477
Roland Cornish
Beaumont Cornish (Nomad) Felicity Geidt +44 (0)20 7628 3369
Email: corpfin@bcornish.co.uk
Novum Securities Plc Jon Belliss +44 (0)20 7399 9425
(Broker)
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR").
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END
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