REG - Tiger Royalties&Invs - Issue of Equity and Total Voting Rights

Tiger Royalties and InvestmentsAnnouncement

20/12/2022 15:45

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RNS Number : 3715K  Tiger Royalties and Investments PLC  20 December 2022

 

For immediate release

 

20 December 2022

 

TIGER ROYALTIES AND INVESTMENTS PLC ("Tiger" or the "Company")

 

Fundraise

 

Total Voting Rights

 

Director/PDMR Shareholding

 

Tiger (AIM: TRF), the royalties and proactive investments company, is pleased
to announce a fundraising of over £160,000.

 

Fundraising: The Company has raised a total of £161,500 in a non-brokered
private placement. The Fundraising comprises a conditional placing of
55,750,000 new Ordinary Shares (the "Placing Shares") for £111,500 at a
price of 0.2 pence per Ordinary Share (the "Placing Price") (the "Placing"),
and a subscription by Colin Bird and Raju Samtani, Tiger's Executive Chairman
and Finance Director, who have both invested £25,000  each to subscribe for
12,500,000 new Ordinary Shares at the Placing Price (the "Subscription
Shares") (the "Subscription"), representing a total of 30.96per cent. of the
total Fundraising amount.  In addition, outstanding salary for Mr Bird will
be converted into 6,300,000 Placing Shares, and outstanding salary for Mr
Samtani will be converted into 4,636,246 Placing Shares.

 

Accordingly, following completion of the Fundraising, Mr. Bird will be
interested in 53,954,560 Ordinary Shares, representing approximately 10.00 per
cent. of the Company's enlarged Ordinary share capital and Mr Samtani will be
interested in 41,289,460 Ordinary Shares, representing approximately 7.65 per
cent. of the Company's enlarged Ordinary share capital.

 

Use of Proceeds: The net proceeds from the Placing and the Subscription will
be used by the Company general working capital purposes.

 

Related Party Transaction: As Mr. Bird and Mr Samtani are Directors of the
Company and in light of the size of their subscriptions, their participation
in the Fundraising is being treated as a related party transaction pursuant to
Rule 13 of the AIM Rules for Companies. Accordingly, the independent
directors, being Mr Michael Nolan and Mr Alex Borelli, having consulted with
the Company's Nominated Adviser, consider Mr. Bird and Mr Samtani's
participation in the Fundraising to be fair and reasonable insofar as the
Company's shareholders are concerned.

 

Further Details on the Fundraising: Pursuant to the Placing and the
Subscription, in aggregate, 91,686,246 new Ordinary Shares (the "Fundraising
Shares") will be issued at the Placing Price to certain new investors and
Colin Bird and Raju Samtani conditional upon admission of the Fundraising
Shares to trading on AIM ("Admission").  The Placing Price represents a price
which is at a premium of 66.7 per cent. to the net asset value of 0.12p per
Ordinary Share as at 30 September 2022.

Each of the participants in the Fundraising will also receive one warrant
exercisable at 0.3 pence for each Fundraising Share which they have
subscribed valid for two years from Admission.

 

The Fundraising Shares represent, in aggregate, approximately 16.99 per cent.
of the Company's enlarged issued share capital (as enlarged by the issue of
the Fundraising Shares). The Fundraising Shares will be fully paid and
rank pari passu in all respects with the Company's existing Ordinary Shares.

 

Application to trading on AIM: The Fundraising is conditional on admission of
the Fundraising Shares to trading on AIM ("Admission").  Application will be
made to the London Stock Exchange for the total of 91,686,246 Fundraising
Shares to be admitted to trading on AIM. It is expected that Admission will
become effective and that dealings in the Fundraising Shares will commence at
8.00 a.m. on or around 28 December 2022..

 

Total Voting Rights after Fundraising: Following the issue of the Fundraising
Shares, the Company's total issued share capital will consist of 539,628,553
Ordinary Shares with voting rights, The Company also holds 4,500,000 Ordinary
Shares in treasury but there are no voting rights in respect of these treasury
shares.

 

On Admission, the abovementioned figure of 539,628,553 Ordinary Shares may be
used by shareholders in the Company as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in Tiger under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

 

 

The following information relating to the transaction has been filed with the
FCA in accordance with Article 19(1) of the Market Abuse Regulation,

 

Colin Bird

 

 1   Details of the person discharging  managerial  responsibilities  /  person
      closely associated
 a)  Name                                                             Colin Bird

 2   Reason for notification
 a)  Position / status                                                Executive Chairman

 b)  Initial notification                                             Initial

     /Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                             Tiger Royalties and Investments PLC ("Tiger")

 b)  LEI                                                               213800F2MNUEMO8VWP26
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description  of  the financial instrument, type of instrument    Ordinary shares of 0.1 pence each in Tiger

     Identification code

                                                                      ISIN GB0002308525

     Nature of the transaction                                        Purchase of ordinary shares and issue of shares
 c)  Price(s) and volumes(s)

                                                                      Purchase of ordinary shares

Price(s)  Volumes(s)
                                                                      0.2p      12,500,000

 

                                                                      Issue of ordinary shares re o/s salary

Price(s)  Volumes(s)
                                                                      0.2p      6,300,000
 d)  Aggregated information                                           n/a

 

Issue of ordinary shares re o/s salary

 Price(s)  Volumes(s)
 0.2p      6,300,000

d)

Aggregated information

n/a

 

 e)  Date of the transaction   20 December 2022
 f)  Place of the transaction  XOFF

 

 

Raju Samtani

 

 1   Details of the person discharging  managerial  responsibilities  /  person
      closely associated
 a)  Name                                                             Raju Samtani

 2   Reason for notification
 a)  Position / status                                                Finance Director

 b)  Initial notification                                             Initial

     /Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                             Tiger Royalties and Investments PLC ("Tiger")

 b)  LEI                                                               213800F2MNUEMO8VWP26
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description  of  the financial instrument, type of instrument    Ordinary shares of 0.1 pence each in Tiger

     Identification code

                                                                      ISIN GB0002308525

     Nature of the transaction                                        Purchase of ordinary shares
 c)  Price(s) and volumes(s)

                                                                      Purchase of ordinary shares

Price(s)  Volumes(s)
                                                                      0.2p      12,500,000

Issue of ordinary shares re o/s salary

Price(s)  Volumes(s)
                                                                      0.2p      4,636,246
 d)  Aggregated information                                           n/a

Issue of ordinary shares re o/s salary

 Price(s)  Volumes(s)
 0.2p      4,636,246

d)

Aggregated information

n/a

 

 e)  Date of the transaction   20 December 2022
 f)  Place of the transaction  XOFF

 

 

 

For further information, please contact:

 

 Tiger Royalties and Investments Plc  Raju Samtani,                                                                                          +44 (0)20 7581 4477
                                      Director
 Beaumont Cornish (Nomad)             Roland Cornish                                                                                         +44 (0)20 7628 3369

                                      Felicity Geidt
                                      Email:corpfin@bcornish.co.uk (mailto:corpfin@bcornish.co.uk)

Novum Securities Plc               Jon
Belliss
+44 (0)20 7399 9425

(Broker)

 

 

 

This announcement contains inside information as defined in Article 7 of the
Market Abuse Regulation No. 596/2014 ("MAR"). Market Soundings, as defined in
MAR, were taken in respect of the Placing with the result that certain persons
became aware of this inside information, as permitted by MAR. Upon the
publication of this announcement, this inside information is now considered to
be in the public domain.

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