Metal Tiger Director converts warrants, thereby investing £480k into the business (see here).
Why would Terry Grammer invest just under £1/2m now, when the KEMCO IPO isn’t until February 2018? Why didn’t he wait another three months and use his capital elsewhere?
Whilst this development was expected (see here) in reality you would have expected the timing to be nearer the February KEMCO IPO date. We know MTR have funds, therefore cash flow isn’t an issue.
It would therefore be logical to assume MTR have another use for the funds.
Longterm holders await with interest the next development in the MTR journey.