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Tiger Resource Finance

Tiger Resource PLC - Quarter end NAV update

RNS Number : 1321J
Tiger Resource PLC
08 April 2020
 

For immediate release

8 April 2020

Tiger Resource PLC

('Tiger' or 'the Company')

 

Quarter-end NAV Update

 

The unaudited portfolio value ("PV") (based on investments and cash only) at 31 March 2020 was 0.17 (31 December 2019 - 0.31) pence per ordinary share. 

 

Investments held by the Company as at 31/3/20

 

Name

Number of shares

Share price

Valuation

£

£

African Pioneer PLC

59,529,532

(see note 2)

46,607

BMR Group Plc (note 3)

2,500,000

0.0000

-

Barkby Group Plc

60,606

0.0690

4,182

Bezant Resources Plc

55,555,556

0.0007

38 ,889

Block Energy Plc

625,000

0.0270

16,875

Corallian Energy Limited (note 4)

20,000

                (see note 4)

15,000

Galileo Resources plc

6,516,667

0.0026

16,943

Goldquest Mining Corp.

173,500

0.0581

10,080

Jubilee Metals Group PLC

1,169,600

0.0250

29,240

Pantheon Resources

31,500

0.1300

4,095

Revelo Resources Corp.

216,667

0.0057

1,235

Royal Dutch Shell Plc B shares

2,700

13.5981

36,715

WisdomTree Copper ETFS

1,760

16.4681

28,984

 

 

 

 

Total Investments

 

 

248,845

 

 

 

 

 

 

 

Notes:

 

1)   The above PV calculation is based on 184,347,070 Ordinary shares with a nominal value of 0.1 pence each ("Ordinary Shares") being the Company's issued share capital of 188,847,070 Ordinary Shares less 4,500,000 Ordinary Shares held in treasury.

 

2)   African Pioneer PLC ("APP") is a private investment company in which Tiger owns 50.75 per cent of the issued share capital and this investment is valued on the basis of Tiger's share of APP's assets (cash plus investments) at the quarter end date for the purpose of computing the quarterly PV.

 

3)   The shares of BMR Group Plc ("BMR") were suspended at the company's request on 7 February 2018 and subsequently de-listed in August 2018.  This investment is being carried at zero valuation until further details are released by BM2R Plc relating to the company's future plans.

 

4)   Tiger holds 20,000 shares in Corallian Energy Limited ("Corallian"), an oil and gas appraisal and exploration company which holds interests in 5 basins in the UK: Central Graben, Inner Moray Firth, Viking Graben, West of Shetland and Wessex and operates in the private domain.  Although the last fund raise completed by Corallian in November 2019 was done at a subscription price of £2.20 per share valuing the Company's holding at £44,000, a 50% provision has been applied against the original purchase cost and this investment has been valued at £15,000 as at 31 March 2020 given the current market outlook.

 

5)   Coronavirus (COVID-19) is already impacting global growth and it is impossible to know the extent to which the virus will develop.  The Company's investment portfolio is occupied by a diversified but mainly small cap natural resource stocks that have been adversely impacted by these recent developments and this has materially impacted valuations at 31 March 2020.

 

6)   Cash funds held by the Company at 31 March 2020 amounted to £63,694.53

 

7)   All reporting is made on a quarterly basis and accordingly the next announcement will disclose the PV per share and investments as at 30 June 2020. The Company will disclose its investments on a quarterly basis when disclosing its PV.

 

 

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

For further information please contact:
 

Tiger Resource Plc

Raju Samtani, Director                                              

+44 (0)20 7581 4477

Beaumont Cornish (Nomad)

Roland Cornish

Felicity Geidt

+44 (0)20 7628 3369

 

Email:corpfin@bcornish.co.uk

 

 

Novum Securities Plc              Jon Belliss                                    +44 (0)20 7399 9425

(Broker)


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