Sale of shares in Metal Tiger plc

RNS Number : 2114S

Paternoster Resources PLC

16 March 2016

 

16 March 2016

Paternoster Resources plc

("Paternoster" or the "Company")

Sale of shares in Metal Tiger plc

Paternoster Resources plc, the investing company focused on the natural resources sector, is pleased to announce the sale of 6 million shares in Metal Tiger plc ("Metal Tiger") at an average price of 2.775 pence per share for a total consideration of £166,500 before expenses.  This represents a 3.0x return on Paternoster's investment in Metal Tiger. Paternoster continues to hold 21.0 million shares in Metal Tiger, equating to a shareholding of 4.7%.

Nicholas Lee, Chairman said:

"Metal Tiger has been making excellent progress and we are very pleased that this is now being recognized in the company's share price performance.  We continue to be supportive of the company and its management team. However, notwithstanding this, it is only prudent for an investment company such as Paternoster to realise an element of the substantial gain that it has made from this investment.  At the same time, Paternoster retains a good-sized shareholding in the company in order to benefit from its envisaged future development."

For more information please contact:

Paternoster Resources plc:
Nicholas Lee, Chairman Matt Lofgran, Non-Executive Director	[phone] [phone]

Nominated Advisor and Joint Broker:
Stockdale Securities
Antonio Bossi/David Coaten	[phone]

Joint Broker:
Peterhouse Corporate Finance
Lucy Williams	[phone]

 

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