Tiger Resource Finance PLC Disposal of Rockrose Energy Plc (5345F)
February 21 2018 - 4:53AM
UK Regulatory
TIDMTIR
RNS Number : 5345F
Tiger Resource Finance PLC
21 February 2018
For immediate release 21 February 2018
Tiger Resource Finance plc
(The "Company")
Disposal of Rockrose Energy Plc
Tiger Resource Finance Plc is pleased to announce that the
Company sold 95,000 Rockrose energy Plc ("Rockrose") shares on 19
February 2018 realising proceeds of GBP341,354.30 representing a
net gain of GBP293,854.30 on the disposal. Rockrose announced on 26
January that company would distribute excess cash funds of GBP1.50
per Ordinary share to all its shareholders. This payment is now
been paid by means of the issue and redemption of one "B" share to
all Ordinary Rockrose shareholders on the company's shareholder
register prior to the relisting of its Ordinary shares on 19
February 2018 . Tiger expects to receive an additional amount of
GBP142,500 relating to this distribution on Friday 23 February
2018
Tiger acquired the Rockrose shares at a cost of 50 pence per
Ordinary share on 13 January 2016 when the company was admitted to
the Standard Listing segment of the Official List of the UK Listing
Authority and to trading on the Main Market for listed securities
of the London Stock Exchange.
Rockrose Energy is an independent oil and gas production and
infrastructure company listed on the main board of the London Stock
Exchange focusing on onshore and offshore production opportunities
and infrastructure projects. For the year ended 31 December 2016,
Rockrose Energy reported a net loss on ordinary activities before
taxation of GBP1,336,857 and had as at that date net assets of
GBP2,191,354.
For further information please contact:
Tiger Resource Finance Plc
Raju Samtani, Director Tel: +44 (0)207 581 4477
Beaumont Cornish (Nominated Adviser) Tel: +44 (0)207 628 3396
Roland Cornish/ Felicity Geidt
Beaufort Securities Limited (Joint Broker)
Jon Belliss Tel: +44 (0)207 382 8300
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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