REG - Paternoster Res. Metal Tiger PLC - Sale of shares in Metal Tiger plc <Origin Href="QuoteRef">MTRM.L</Origin> <Origin Href="QuoteRef">PRSPA.L</Origin>

Riverfort Global OpportunitiesAnnouncement

16/03/2016 07:00

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
+44 20 7580 7576
+1 480 993 8933
Nominated Advisor and Joint Broker:

Stockdale Securities

Antonio Bossi/David Coaten
+44 20 7601 6100
Joint Broker:

Peterhouse Corporate Finance

Lucy Williams
+44 20 7562 3351

This information is provided by RNS
The company news service from the London Stock Exchange
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