Tiger Royalties And Inve... Share Discussion Threads

[tiltonboy] 28/6/2011 11:01

Was,

Buy some then!!!

Your help is much appreciated, and hopefully you can achieve something. Can you sort out RA at WTH as your next port of call. Another one where IMHO scandalous contempt of shareholders has been shown by director(s).

What do I do with my BOI? Bought a few at 27.5p for the conversion.

[wshak] 28/6/2011 09:59

People may be aware that I've been fighting a campaign against the Bank of Ireland and a major victory has been achieved on behalf of PIBS holders.



I am also on the case at Tiger, even though my investment here is absolute buttons.

Watch this space.

WShak

[witteklip] 23/6/2011 15:17

fordtin - I think the shell's worth £250 to £450k

I was going at the N.A.V stated in the recent annual report which think was at 4.27 p (.0427 x 177,071,939 = £7560971.8 + (say) £400k = just under £8 million)

[fordtin] 23/6/2011 15:07

witteklip - re "With the value of the shell + N.A.V. I calculate the value of TIR just under £8 million"

My calcs put the NAV iro £6.8m which suggests you're attributing about £1.2m to the shell.
Is the shell really worth that much considering the lame management?

[tiltonboy] 23/6/2011 15:02

witteklip,

I wholeheartedly agree. In SK and WShak, I think we have the energy to move things on. I will happily pledge my support to the boys.

[skyship] 22/6/2011 18:11

Better than a share buyback would be a tender offer for, say, 25% of the equity @ NAV less, say, 20%. That would be an open offer for 43m shares @ c3.35p/share, absorbing a mere £1.5m of the cash balance.

The shares would then stand at or about that level in anticipation of another tender. It would provide support to the share price; and of course the resultant NAV/share would also be increased.

[curt3] 22/6/2011 12:08

The last time I spoke to Mr Rowan he indicated that they would instigate a share buy back program. Was there any mention of this at AGM ??

[kingrolo] 21/6/2011 22:05

Simon - a genuine 'Thank You'. Well done. We will see what transpires (more delays and prevarication I suggest) but you said what needed to be said - not withstanding letting the Bird off the hook - though clearly shaken his cage ! Ta !!

[simon cawkwell] 21/6/2011 21:54

Gentlemen,

I and several other shareholders, notably including Was Shakoor and Professor Mike Johnson (he is associated with Rio Tinto Zinc), attended today's AGM at the Pelham Hotel,SW7. All the directors were present but nobody from the auditors. On the other hand FinnCap, the Nomad, sent a representative. He declined to advise shareholders what, if any, concerns he had. That struck me as pretty pathetic in view of the colossal sum FinnCap costs annually.

The meeting passed all the resolutions formally advised in the notice of the AGM. This was hardly surprising in view of Rowan's controlling interest.

But the meeting lasted about an hour and three quarters and contained a great deal of forthright opinions. For instance, I declared that Rowan is a lazy old bodger. This is hardly surprising. He is very ill and on his way out. How he has presumed to collect any pay from Tiger in recent times is beyond me. All I can say is that he gave an undertaking to the meeting to waive all pay from Tiger as of 21st June 2011. I think he ought to have backdated this concession to at least 1st January 2011.

I also told Messrs Bird and Nolan that they were a disgrace since they should never have allowed this ludicrous misfortune/development to have occurred at the company. Was Shakoor produced a schedule showing that the total costs of this tiny investment company over the last ten years came to about £3m – this on an asset base now of £8m, itself inflated by recent bull markets on resources stocks. Quite why Nolan who has a substantial pay position at Cove Energy is content to leave his name associated with Tiger as it stands is beyond me.

Bird is a relatively forthright chap but when he mentioned that the proof of his ability is the money (lots of) he has in his bank account I forebore to ask what he had done about maximising the money in Tiger's bank account. I wish I had not so omitted. So I include it now.

All in all, the directors were left in no doubt, including the bookkeeper, Ramdanis, that they are a total shower.

I trust that they will go away from today and come up with some solid plans. And, by that, I mean within, say, ten days.

Simon Cawkwell

[kingrolo] 21/6/2011 20:45

Many thanks traderabc ! I guess you had to be there to feel their pain and generate any sympathy !! Clearly from my arms distance it appears that both ( especially Bird .... reference the way he took ££££££££££ MILLIONS out of JLP and now appears to be destroying it ... oh of course with the occasional non delivered 'take over rumour' to keep investor interested ... ALLEGEDLY !!) are bent as the proverbial ten bob note ! ) ps WTF does Bird Do ????

We will see - thanks for update - best if they could be forced to liquidate the fund and give the investors ( read OWNERS !) the ££ !

[traderabc] 21/6/2011 20:37

Kingrolo as this was the first corporate AGM I've attended, I was waiting for someone more qualified to comment, but to put you out of your suspense, here's what I left with.

I think some progress was made today, BR took a 100% pay cut for the next 6 months. The board were not let off lightly and are very aware of the primary complaints against them namely

1 The stagnant cash situation

2 The high operating costs in relation to market cap

My feelings have softened somewhat with regard to management, Simon gave them a very hard time, as did another individual, some very frank views were aired, unforgivable as it is I left there feeling a little sorry for BR after the grilling he got! Management had to sweat a little for their money this afternoon.

Incompetent they may be but I'm reluctant to believe them to be outright dishonest.
There will be some news regarding strategy soon (a week or two)

[kingrolo] 21/6/2011 20:08

Not the best start to news !!!
Though I suppose Rowan and cronies control most of the voting rights.

RNS Number : 8614I
Tiger Resource Finance PLC
21 June 2011



TIGER RESOURCE FINANCE PLC (the "Company")



Result of Annual General Meeting



The Company is pleased to announce that all resolutions proposed at its Annual General Meeting, held earlier today, were duly passed.



For further information please contact:


Tiger Resource Finance plc



Bruce Rowan, Chairman

Tel: [phone]

Raju Samtani, Director

Tel: [phone]







finnCap

Tel: [phone]

Corporate Finance - Matthew Robinson/ Charlotte Stranner


Have to wait for personal updates to find out what went on.

[kingrolo] 21/6/2011 14:52

HI Skyship - totally agree !!!! Couldn't make the meeting but waiting with baited breath to see 'if' anyone really did stand up to him. This situation is a disgraceful farce and must not be allowed to continue !

[skyship] 21/6/2011 12:08

Good luck all...

We all know that the ONLY reason BR is there is to milk the cash fund for an absurd salary and to provide him with expenses and a Central London office.

His time is up - and as many people as can get there to the EGM need to make a serious noise about it.

He has ripped off shareholders for far too long.

Also, as I mentioned earlier - DO tackle the reporting banker, broker, auditor and candlestick maker. They are all on the take and need to be aware that their fee level doesn't justify the risk of being associated with this man for one day longer...

[witteklip] 15/6/2011 21:58

traderabc - 15 Jun'11 - 12:27

Yes - as Simon says - it's on Tuesday (I copied and pasted the date/day error as I found it direct from the Tiger site - I called TIR to let them know it was there and am pleased to see that they have corrected it :-)

[witteklip] 15/6/2011 21:51

Trader

Re: "Let's all go along and tell them we're mad as hell"

I'll be there. Hopefully we'll meet up ;-)

(My easy.com email has crashed yet again so I can no longer retrieve messages there)

[simon cawkwell] 15/6/2011 21:41

Gentlemen,

It is Tuesday 21st June at 3.00 p.m..

SC

[traderabc] 15/6/2011 12:27

witteklip - 13 Jun'11 - 12:56 - 154 of 160

The Annual General Meeting of the Company will be held on Thursday 21 June 2011 at 3.00 pm at the Pelham Hotel, 15 Cromwell Place, London SW7 2LA.





Is this the correct date? Let's all go along and tell them we're mad as hell and ain't gonna take it anymore!
In real terms that cash has lost at least 20% of its purchasing power over the last 5 years, this is unacceptable, the cash should be invested into something real and tangible, how about physical silver, as it's better then money?
They could put at least half of it into a metal ETF, how about CEF? Half into Silver half into Gold, over the longer term what could possibly go wrong with that idea? ;-)

[curt3] 15/6/2011 10:19

I have written to and spoken to Mr Rowan over the last few years belabouring the points raised so succinctly by Simon. I have found him to be completely in denial - continuing to say how well things are going !! I can only conclude that he is deluded - A LEDGEND IN HIS OWN MIND.

[invisage] 14/6/2011 19:23

Cawkie... :-)

[skyship] 14/6/2011 11:29

Simon - one point.

You may have noticed from the copies of my correspondence with the Board two years ago (posted on this site), I made a point of copying in the "Reporting Professionals" (sic) - the broker, solicitor, accountant & perhaps even the Financial PR co.

We all know/suspect that in "The City" fees are more important than ethics; however there comes a tipping point when even the most calculating advisor recognises that the fees may be in danger of being outweighed by bad publicity.

I suspect you need to get at least one such on your side if you are to have any chance of success; so perhaps a good idea to keep them in the loop and get them thinking whether blind support of BR is in their best long term interests.