Result of Tender Offer (4725P)
October 04 2011 - 2:00AM
UK Regulatory
TIDMTIR
RNS Number : 4725P
Tiger Resource Finance PLC
04 October 2011
Tiger Resource Finance plc
("Tiger" or the "Company")
Result of Tender Offer
Further to the announcement made on 9 September 2011 concerning
the passing of the resolutions at the General Meeting to give
effect to the Tender Offer and Rule 9 Waiver in which the Company
offered to purchase up to 50,000,000 ordinary shares of 1p each in
the Company ("Shares") at 3.75p per Share (the "Tender Price"), the
Company announces that a total of 54,014,390 Shares were validly
tendered under the Tender Offer.
50,000,000 Shares will be repurchased at the Tender Price and
cancelled; this equates to 28.9 per cent. of the Shares in issue
(excluding Shares held in treasury) as at 30 September 2011.
The tenders of all shareholders who have validly tendered their
minimum entitlement of Shares will be accepted in full and this
amounts to 20,806,564 Shares. The excess of 33,207,826 Shares
tendered in the process is being scaled back and 29,193,436 Shares
are being purchased from shareholders who offered to tender more
than the minimum entitlement. This equates to approximately 88 per
cent. of the excess Shares tendered being satisfied.
It is expected that cheques will be dispatched and CREST
payments made as soon as practicable after 17 October 2011. Any
queries concerning the calculation of accepted tenders and
administration of the Tender Offer should be addressed to
Computershare on +353 1 216 3100.
Following implementation of the Tender Offer, the Company will
have 122,571,939 Shares in issue (excluding Shares held in
treasury). The number of voting rights in the Company will
therefore be 122,571,939.
As a result of the Tender Offer, the Chairman Mr. Bruce Rowan,
who holds 48,366,239 Shares, will be interested in 39.5 per cent.
of the Company's issued share capital (excluding shares held in
Treasury).
The Independent Directors will be interested in the
following:
Percentage of issued
share capital
(excluding shares held
Director Shares in Treasury)
Michael Nolan
(1) 1,315,000 1.1%
Colin Bird 1,635,000 1.3%
Raju Samtani 500,000 0.4%
(1) 1,295,000 of these shares are held by J.S. Consult Limited
Pension Fund. Michael Nolan is the sole beneficiary of this pension
fund.
Terms used in this announcement shall, unless the context
otherwise requires, bear the meaning given to them in the circular
sent to Shareholders dated 24 August 2011.
Contacts
Tiger Resource Finance plc
Bruce Rowan, Chairman Tel: +00 44 20
7486 3997
Raju Samtani, Director Tel: +00 44 20
7581 4477
finnCap Tel: +00 44 20
7600 1658
Corporate Finance - Matthew Robinson/
Christopher Raggett
This information is provided by RNS
The company news service from the London Stock Exchange
END
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