REG - Tiger Resource PLC - Disposal of shares in Block Energy Plc

Tiger Royalties and InvestmentsAnnouncement

17/04/2019 14:35

RNS Number : 5289W
Tiger Resource PLC
17 April 2019
 


 
 
For immediate release                                                                                                  17 April 2019
Tiger Resource plc

("Tiger " or The "Company")

Disposal of shares in Block Energy Plc
Tiger Resource Plc is pleased to announce that the Company sold 625,000 shares in Block Energy Plc ("Block Energy") on 17 April 2019 realising net proceeds of £64,034.62.  The disposal proceeds will be used as general working capital for the Company and also to target new investments in the natural resource sector.  Following the above sale, Tiger holds a further 625,000 shares in Block Energy and will continue follow progress with this investment. 
 
Block Energy is an AIM-listed revenue generative junior oil and gas company aiming to capitalise on first mover advantage to build on its oil producing assets with a target to become one of the largest independent oil producer in Georgia.  For the period ended 31 December 2018, Block Energy reported a net loss on ordinary activities before taxation of GBP (582,000) and had at that date net assets of GBP 6,353,000.
 
Tiger has not received any dividend income from Block Energy Plc.
 
For further information please contact:






Tiger Resource Plc


Raju Samtani, Director                                              


+44 (0)20 7581 4477




Beaumont Cornish (Nomad)


Roland Cornish
Felicity Geidt


+44 (0)20 7628 3369








Email:corpfin@bcornish.co.uk
 







Novum Securities Ltd                        Jon Belliss                                      +44 (0)20 7399 9425
(Broker)
 
 
                                                               
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
 
 




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