Tiger Resource PLC Quarter end NAV update (1321J)

TIDMTIR

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   Share price   Valuation 
                                 shares 
                                                  GBP         GBP 
                                            (see note 
 African Pioneer PLC         59,529,532            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                   (see note 
  (note 4)                       20,000            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 GBP2.20 per share valuing the Company's holding at GBP44,000, a 50% provision has been applied against the original purchase cost and this investment has been valued at GBP15,000 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 GBP63,694.53. 

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           [phone] 
                             Roland Cornish 
 Beaumont Cornish (Nomad)     Felicity Geidt                  [phone] 
  Email: [e-mail] 
 

Novum Securities Plc Jon Belliss [phone]

(Broker)

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April 08, 2020 02:00 ET (06:00 GMT)