Metal Tiger brings in more money with further lending against Sandfire holding

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Metal Tiger PLC (LON:MTR) has borrowed a further A$1.1mln, using its Sandfire shares as security.

This is the sixth such financing arrangement taken out by Metal Tiger.

The loan is secured over, in aggregate, 232,780 Sandfire shares held by Metal Tiger, representing approximately 0.13% of Sandfire’s issued share capital.

The two parties have also agreed put and call options on the shares priced respectively at 80% and 145% of the A$.5.95 reference price.

Costs of approximately A$0.108m associated with the agreement have been deducted from the aggregate proceeds.

In total Metal Tiger has now borrowed A$12.4mln against its holding in Sandfire in arrangements which are secured over just over 2.8mln shares.

Metal Tiger’s total Sandfire holding amounts to just under 6.3mln shares.

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