TIDMTIR
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
GBP160,000.
Fundraising: The Company has raised a total of GBP161,500 in a
non-brokered private placement. The Fundraising comprises a
conditional placing of 55,750,000 new Ordinary Shares (the "Placing
Shares") for GBP111,500 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 GBP25,000 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 t he p erson disc harging managerial responsib
ilities / p erson closely associated
a) Name Colin Bird
-------------------------- ---------------------------------------------------------------
2 Reason for notification
-------------------------------------------------------------------------------------------
a) Position / status Executive Chairman
-------------------------- ---------------------------------------------------------------
b) I nitial notification Initial
/Amendment
-------------------------- ---------------------------------------------------------------
3 Details of t he issu er, emission allow a n ce m a
r k et participan t, au ct ion plat for m, au ction
eer or auc tion monitor
-------------------------------------------------------------------------------------------
a) Name Tiger Royalties and Investments
PLC ("Tiger")
-------------------------- ---------------------------------------------------------------
b) LEI 213800F2MNUEMO8VWP26
-------------------------- ---------------------------------------------------------------
4 Details of t he t ransact ion (s): section to be re
p eated for ( i) e a ch type of instr u m e n t; (ii)
each type of transac tion; (iii) each date; and ( iv)
each place w h ere transactions have b een condu cted
-------------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 0.1 pence each
financial instrument, in Tiger
t ype of instrument
I d e ntification ISIN GB0002308525
code
-------------------------- ---------------------------------------------------------------
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
-------------------------- ---------------------------------------------------------------
e) Date of the transaction 20 December 2022
f) Place of the transaction XOFF
------------------------- -----------------
Raju Samtani
1 Details of t he p erson disc harging managerial responsib
ilities / p erson closely associated
a) Name Raju Samtani
-------------------------- ---------------------------------------------------------------
2 Reason for notification
-------------------------------------------------------------------------------------------
a) Position / status Finance Director
-------------------------- ---------------------------------------------------------------
b) I nitial notification Initial
/Amendment
-------------------------- ---------------------------------------------------------------
3 Details of t he issu er, emission allow a n ce m a
r k et participan t, au ct ion plat for m, au ction
eer or auc tion monitor
-------------------------------------------------------------------------------------------
a) Name Tiger Royalties and Investments
PLC ("Tiger")
-------------------------- ---------------------------------------------------------------
b) LEI 213800F2MNUEMO8VWP26
-------------------------- ---------------------------------------------------------------
4 Details of t he t ransact ion (s): section to be re
p eated for ( i) e a ch type of instr u m e n t; (ii)
each type of transac tion; (iii) each date; and ( iv)
each place w h ere transactions have b een condu cted
-------------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 0.1 pence each
financial instrument, in Tiger
t ype of instrument
I d e ntification ISIN GB0002308525
code
-------------------------- ---------------------------------------------------------------
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
-------------------------- ---------------------------------------------------------------
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, Director +44 (0)20 7581 4477
Beaumont Cornish Roland Cornish
(Nomad) Felicity Geidt +44 (0)20 7628 3369
Email: 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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