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Execution of Share Purchase Agreement
Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that Cobre Limited (“Cobre”) and the shareholders of Kalahari Metals Limited (“KML”) (the “KML Vendors”) (together the “Parties”) have executed a Share Purchase Agreement (the “SPA”) in respect of the conditional acquisition by Cobre of 51% of the issued share capital of KML (the “Transaction”).
The terms of the SPA are generally consistent with the binding Heads of Agreement previously entered into by the Parties, as announced by Metal Tiger on 24 August 2020, 22 October 2020 and 20 November 2020. Metal Tiger is one of the KML Vendors and currently has a 62.17% equity interest in KML. In addition, Metal Tiger currently holds an 18.79% equity interest in Cobre.
Foreign Relations Bill set to increase federal government
oversight of state and territory arrangements
Last week, Australia s Foreign Relations (State and
Territory Arrangements) Bill 2020 (
Bill) passed
both houses, bringing state and territory government arrangements
with foreign territories within the domain of federal government
oversight.
The Bill is intended to ensure consistency between state and
territory arrangements and the broader national interest by
allowing the federal government to veto arrangements that are
inconsistent with Australia s foreign policy or that may
adversely affect relations with a foreign country. The Bill means
that the federal government will be able to ensure that state and
In the media
Australia makes top 10 for real estate investment
Australia just became one of the top ten countries to buy real estate with inbound investments to increase sharply in 2021 (04 November 2020). More.
Office outlook optimistic for 2021
There is likely to be “no major demise” to the global office sector, despite remote working arrangements, with higher rental incentives expected in CBD offices, according to a global survey by Savills Investment Management (04 December 2020). More.
Australian commercial property firms see environmental management as increasingly important to their business
Many companies that work in commercial real estate are lagging behind other industries in terms of good environmental management, but there is an increasing number that are catching up fast, a new international report has found (03 December 2020). More.
Australian foreign investment reform legislation passed by Parliament
Reform Act) and the
Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2020 (
Fees Act) received Royal Assent on 10 December 2020, confirming that the Commonwealth Government’s changes to Australia’s foreign investment regime will take effect from 1 January 2021.
Timeline for reforms is now confirmed
The Reform Act passed both Houses of Parliament on 9 December 2020, after amendments made by the Senate were agreed to by the House of Representatives. The Fees Act passed both houses on 8 December 2020 without amendment. The operative provisions of both Acts will commence on
1 January 2021.
2021 brings significant change to the foreign investment regime