Tiger Royalties And Inve... Share Discussion Threads

[curt3] 15/6/2010 18:06

Can you seriously imagine any astute investor looking up Tigers web site and seeing the information on their investment holdings so meaningless and out of date and thinking , here's a management on the ball !! I think there would be a Jimmy McEnroe response - YOU CANT BE SERIOUS !! I bought in about 5 years ago at 4p ! oops !!

[witteklip] 15/6/2010 00:19

Benefit of any doubt goes to Raju and that bodes well for TIR's long suffering shareholders with regard to the Directors intentions - even though I think that the commodity markets are about to come under serious flack. Perhaps that's also in TIR's favour if they're into acquisition.

[skyship] 14/6/2010 08:29

Well, we obviously can't know that, but they weren't options and they weren't issued. They were bought in the open market.

[witteklip] 11/6/2010 12:49

Did Raju buy them with real cash or did he acquire them as part of a company deal?

[giant steps] 11/6/2010 10:15

Yes skyship, it may signal a turning point.

[skyship] 11/6/2010 10:01

Personally I believe this director purchase could be enormously significant. OK - it's only £10k, but Raju is the Co. Sec - the only true employee. Never held stock before. Why now?

I believe it quite likely he has been given the nod that, after the upograding in Colin Bird's position, something will at last be happening to change the Company's prospects and share price:


=============================================================
9 June 2010

Tiger Resource Finance plc ('Tiger' or 'the Company')

Director Dealing

Tiger was notified today that Raju Samtani, a director of the Company, purchased 500,000 ordinary shares of 1p each in the capital of the Company on 8 June 2010 at a price of 2.21p per share.

Following this purchase Mr. Samtani holds 500,000 ordinary shares in the Company representing approximately 0.29% of the effective issued ordinary share capital (being 202,071,939 ordinary shares of 1p each in issue less 29,500,000 such shares held in treasury).

[skyship] 08/6/2010 15:55

Just spent 30mins searching my cellar for old LNT files as I kicked off that campaign with the purchase of the shareholder ledger - to minimise on cost I bought the microfiche option, which I had to read down at my local library!

Witteklip -I certainly think you should have threatened to report the directors to the FSA; and best to do so in writing with copies to the reporting bankers, brokers and accountants. That way tends to instigate action rather than a zero response. Still, I understand your reluctance to spend more time on the matter.

Hopefully someone else will emerge and we will all again vote our stock in support of an Action Group....

[witteklip] 07/6/2010 16:31

SKYSHIP - 4 Jun'10 - 15:06 - 1302 - My apologies to everyone for not succeeding - I tried and hit a brick wall. The next step involved spending time and money on lawyers and I do not personally have sufficient shares to warrant that investment alone. The project lost momentum in late May 2009 after repeated attempts to access Tiger Resources share register had failed.

I needed the register so that I could write to shareholders to try and drum up enough support (+10%) to have the power to force an EGM (so as to be taken seriously). At the same time I was looking for an articulate and experienced person to volunteer to represent shareholders (There was a very good potential candidate but they lacked the time). I am not the right person to front this.

I made the request and sent the fee but made no difference. After numerous attempts to facilitate my request. Their agent (Computershare Investor Services (Ireland) Limited ) wrote: "As the Company's Agent we can only act on their instruction so I must await their Instruction."

From the correspondence I have proof that Tiger Resources Management were aware of my requests and failed to respond despite numerous follow ups. We have the evidence to get them rapped on the knuckles and fined - but that's shooting yourself in the foot if you're a shareholder. Besides the authorities are toothless.

Section 116 of the Companies Act 2006 states that:
"* A company's shareholder register must be open to inspection by any
shareholder free of charge, and any other person for a prescribed fee.

Any person may request a copy of the register, or a part of it, for
a prescribed fee.

*Section 117 states that:

* A company which receives a request has five working days to decide
whether it has been made for a 'proper purpose' and therefore comply
with the request, or apply to the court. The ability to refer the
matter to the court is a new provision. Currently, a company only has
the option of complying with the request or risk paying a fine. The
deadline within which a company must deal with a request has fallen
from ten days to five days."

(The source for my information is here:
and here
)

Is anyone is interested in taking this further? Please let me know. I'll join others to march on Tiger Resource's headquarters but not without the power to demand an EGM - It seems to me that the txxxxxs who supposedly run this company have complete contempt for ordinary shareholders and need to be taken by the scruff of the neck before they'll even consider reason or take small share holders seriously.

[johndee] 07/6/2010 05:19

Its looking better again..........sold at 4.15 but thinking to buy back now.....

[curt3] 05/6/2010 10:13

Thank you Skyship for correction. Yes, Rowan has 48M shares = 28% of total. There were some rumours that he has not been well. The board has been beefed up and Colin Bird (of Jubillee Plat fame) has taken executive control. I am a pensioner and live in Ireland so regret that I will not attend AGM. Here's hoping that company is moving forward - thermust be some purpose behind sale of PanAfrican holding which I thought was one of their better ones and also sell down of Ascent.

[stephanie_m] 05/6/2010 00:19

Tiger Resources have 450k NPE in their portfolio valued at £252k at 30/4/10

s

[skyship] 04/6/2010 15:06

If you read the posts from 1100 onwards you'll see that Witteklip tried to get a Shareholders Action Group going. Anyone know what became of that? Also did anyone actually bother to attend last September's AGM?

What is needed is someone to go to the AGM and create merry hell - very easily done. I did exactly that when the Directors of LNT tried to hijack the cash-filled company for their own ends. Thanks to stakes bought by other parties (inc WShak from TMF) they were shamed into admitting defeat and put the company into liquidation. Shareholders got their reward.

Rowan has got to be made to justify his existence; but if no-one puts him on the spot, then why should he not continue drawing an absurd salary for doing absolutely sod all!

Now that I live in SW France I am no longer available to play the stirrer role; but hopefully someone will step forward before yet another AGM goes wasted...

[skyship] 04/6/2010 14:30

Yes, but did they sell any into the rise. Certainly should have done!

Incidentally, last time I looked Rowan held c.20% - way short of your 48% figure; and 20% is the size of holding that could readily be placed into more productive hands. Hopefully that is what will ultimately happen as Rowan's continued involvement is unwarranted, counter-productive and costly.

If I still lived in the UK I would certainly be creating a scene at the upcoming AGM; and hope very much that some other shareholder will do so.

[curt3] 04/6/2010 10:22

As a long term holder I recently wrote to Colin Bird complaining about the gross lack of operational activity, the discount to nav, the high management fees and the obsolete info on the web site. I berated the management for sitting on a cash pile while oppertunities abounded particularly following the credit crunch crisis. I received a rather bland reply saying that TIR was not in the business of "Rolling the dice". This company is 48% owned by Bruce Rowan and there has been a point of view that it is run for his personal retirement benefit hence the conservation of cash. There has been a change of tone recently and some investments have been realised. TIR had 27M shares in Ascent which a few years ago were at 30p !! (now 4p). What apity they didnt realise some of that massive profit that was available then ?? Somebody was definitely asleep !! Beef over - lets hope for better times on the back of Nautical.

[amazon_woman] 04/6/2010 08:19

GS this does look v interesting but you can't actually buy more than 10k so !! I know call broker :)

GL

AW

[bpdon] 03/6/2010 21:37

Ok cheers topvest - a concept that was lost on me until tonight. I cant quite see the benefits to the "shell" though..... more research required.

[topvest] 03/6/2010 21:11

A company used to list another business through a reverse takeover, using the company's cash pile.

Colin Bird has fewer businesses at the moment after the very successful Kiwara sale. He has more time (and cash no doubt) to set a few balls rolling.

[bpdon] 03/6/2010 20:24

Topvest, can you enlighten me with what the purpose of a "shell" is? I noticed a few posters have mentioned this being a cash shell?

[bpdon] 03/6/2010 20:20

GS, there is no denying this should be performing better and its tempting as I reckon its trading on roughly a 60% discount. Probably limited downside at this price. You would hope that at some point the NAV would be reflected in the share price..... but it seems its traded at huge discounts for years.

However, why the heck have they been sitting with so much cash sloshing around for so long? Why cant they have more convincing information on their website? It does smack of some bodies part time weekend job instead of their primary focus.

I see Colin Bird has been a director for 7 or 8 years. How can we be confident he will be more active as Chief Executive Officer? Other than selling some Ascent shares, has he made any progress in his first 4 or 5 months?

[topvest] 03/6/2010 20:16

Reading the annual report that arrived today there is a definite change in emphasis in the last three para's of the Operations Review.

NPE is good news, but looks like Colin has some plans for being more pro-active and making larger investments.

Mention of special purpose vehicles (presumably shells) and targeting significant opportunities with greater unit size.

With the cashing up of existing investments and the cycle turning, I can see some excitement here in the next 6-12m....and not before time!!

[bpdon] 03/6/2010 17:43

GS, I note you say cash is £4.1M. I see net cash in the last financial report is £3.5M. I guess they have sold down some holdings?

I reckon investments are now worth circa £2.2M (1.56p per share). I expect NPE to push up back towards 200p though.

That would put the cash plus investment NAV per share circa 3.93p? Tempting assuming the cash will finally get put to good use.... I suppose thats the rub!

Agreed. The website is pitiful. I real dearth of useful info.

[giant steps] 03/6/2010 17:17

bpdon, lack of active investments has troubled a few folk but perhaps Colin
Bird will be more active. Core investments looking great for blue sky given
s/p protected and at a discount to cash! (amazing)

Shame their website is hopelessly out-of-date !

(we await the repeat of share buybacks to add value)

[bpdon] 03/6/2010 17:13

Thanks Giant Steps. NPE must have added the best part of £400K to the NAV today..... thats a 20% increase in the NAV of the total equity holdings. TIR hasnt flinched today which surprises me.

I note lots of posts on here commenting on "sleeping on the job" and "moribund activity". A disgruntled core of holders suggests TIR hasnt met expectations.

Its a very interesting discount here though. Certainly worth some further research. If it trades at a huge discount ad infinitum, is there any point?

Any idea what the typical TER is? Surely it must be tempting for some one to cough up £3M to but the whole thing and liquidate it?

EDIT: Altered numbers above above due to NPE official close price

[giant steps] 03/6/2010 16:36

bpdon, TIR has traded at a substantial discount for many years,
and this makes it quite a safe investment choice (no advice intended)
particularly as the share price now trades below the CASH element,
in this respect the investments come for free.

Overlooked by most except those seeking exceptional "cash value" + blue sky !

Today we have some blue sky.

[ see #1266 ]

[bpdon] 03/6/2010 16:28

Giant Steps, why is their such a huge discount to NAV inc cash on this IT? Is there history here?