Tiger Resource PLC Net Asset Value(s) (9088U)

TIDMTIR

RNS Number : 9088U

Tiger Resource PLC

03 April 2019

For immediate release

3 April 2019

Tiger Resource PLC

('Tiger' or 'the Company')

NAV Update

The unaudited portfolio value ("PV") (based on investments and cash only) at 31 March 2019 was 0.35 pence per ordinary share.

Investments held by the Company as at 31/03/19

 
 Name                         Number of   Share price   Valuation 
                                 shares 
                                                  GBP         GBP 
                                            (see note 
 African Pioneer PLC         59,529,532            2)      51,411 
 Anglo American PLC              11,500        20.535     236,152 
 BMR Group Plc (note 3)       2,500,000        0.0000           - 
 Barkby Group Plc                60,606        0.0445       2,697 
 Bezant Resources Plc        55,555,556        0.0010      55,556 
 Block Energy Plc             1,250,000        0.0390      48,750 
 Corallian Energy Limited 
  (note 4)                       20,000        1.5000      30,000 
 ETFS Copper                      1,760        20.816      36,637 
 Galileo Resources plc        6,516,667        0.0067      43,662 
 Goldquest Mining Corp.         173,500        0.0560       9,716 
 Jubilee Metals Group 
  PLC                         1,169,600        0.0233      27,252 
 Pantheon Resources              31,500        0.2860       9,009 
 Revelo Resources Corp.         216,667        0.0072       1,560 
 Royal Dutch Shell Plc 
  B shares                        2,700        24.280      65,556 
 
 
 Total Investments                                        617,958 
 
 

Colin Bird, Executive Chairman of Tiger commented "Although the Company has reported a modest decline in its NPV for the current quarter mainly resulting from continuing tough market conditions, particularly with smaller cap stocks in the natural resource sector, the above NPV does not reflect the 61.54% increase in Block Energy Plc's share price on Monday 1 April following the news release by the company confirming that production testing at its well 16a in the West Rustavi field in Georgia delivered a test flow rate of an average of 1,100 bopd versus the previously announced target production rate of 325 bopd. We will continue to follow Block Energy Plc's progress with interest in the coming weeks."

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 BMR 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 has an interest in 5 petroleum licences in the UK and operates in the private domain. This investment has been valued at cost.

   5)   Cash funds held by the Company at 31 March 2019 amounted to GBP25,389.61 

6) 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 2019. 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 Finance 
  Plc                        Raju Samtani, Director          [phone] 
                             Roland Cornish 
 Beaumont Cornish (Nomad)     Felicity Geidt                 [phone] 
  Email:[e-mail] 
 

Novum Securities Plc Jon Belliss [phone]

(Broker)

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April 03, 2019 02:01 ET (06:01 GMT)