BMR confirms indicative offer for Metal Tiger

BMR's board has confirmed it has made an indicative offer for Metal Tiger.

BMR says the process is at an early stage and there can be no certainty that a formal offer will be made for Metal Tiger.

BMR chairman and chief executive Alex Borrelli is also CEO of Metal Tiger.

The indicative offer is an all share offer which proposes that Metal Tiger shareholders will receive 0.231 BMR shares for every 1 Metal Tiger share that they own.

Based on the closing share prices of Metal Tiger and BMR as at 24 November, the indicative offer represents a discount to the closing price of Metal Tiger shares on 24 November.

At 4:29pm: (LON:BMR) Berkeley Mineral Resources PLC share price was -1.25p at 4.63p