16th January 2002
TIGER RESOURCE FINANCE PLC ("Tiger")
Agreement by Minmet plc to dispose of shareholding
Director Changes
The Board of Tiger Resource Finance plc ("Tiger" or the "Company") has been informed by its largest shareholder Minmet plc ("Minmet") that Minmet has reached agreement to dispose of its entire shareholding in the Company to Ronald Bruce Rowan. The transaction is scheduled to complete no later than 31 May 2002. Minmet currently holds 32,495,671 shares in Tiger representing 14.54% of the issued share capital in the Company.
Mr Rowan and Colin Bird are joining the Tiger Board with immediate effect and Alan Mooney and John Molyneux have tendered their resignations as Directors. It has also been agreed that Jeremy Metcalfe and Gordon Riddler will step down from the Board and that Michael Nolan will become a non-executive Director, on completion of the transaction.
In addition Mr Rowan has been appointed Director with responsibility for Investment Policy and Strategy.
Mr Rowan and Mr Bird bring their respective expertise to investment and technical evaluation, principally in the natural resource sector. Mr Rowan is a controlling shareholder in Sunvest Corporation Ltd, a company listed on the Australian Stock Exchange (ASX). He also has stakes in his own name in a number of other AIM and OFEX companies. Mr Bird, a Chartered Engineer, is a Director of Lion Capital Corporation Limited ("Lion"), a London based corporate finance company specialising in the natural resource sector. Lion is regulated by the FSA.
Tiger was admitted to trading on AIM in January 2001 principally to invest in a broad range of companies in the natural resource sector. In the past year it has invested approx Stg£2.3m in 9 companies in the sector quoted on Canadian, London, Johannesburg and Australian Stock Exchanges. Tiger also holds over Stg1m in cash.
Mr Rowan as Director of Investment Policy and Strategy intends to focus Tiger as a pre-eminent provider of investment funds to natural resource companies traded on London's AIM and Ofex exchanges.
The information which falls to be disclosed in relation to Ronald Bruce Rowan and Colin Bird in accordance with paragraph f of Schedule 2 of the AIM Rules is listed in Appendix 1 of this notice.
Michael Nolan
Director
Tel: + 353 1 661 3309
Appendix 1
Ronald Bruce Rowan
Sunvest Corporation Limited
Murraya Holdings Pty Ltd
Vogon Pty Ltd
Country Corporation Pty Ltd
Wellington Pacific Pty Ltd
Starlight Holdings Ltd.
Web Shareshop plc
White Knight Investments plc
Colin Bird
Lion Capital Corporation Limited
Lion Networks Limited
Lion Mining Limited
Lion Mining Corporation Limited
International Freegold Inc
MIT Ventures Inc
Canalaska Ventures Inc
In the case of both Mr Rowan and Mr Bird there are no matters falling to be disclosed pursuant to Paragraph f (III - VIII) of Schedule 2 of the AIM Rules.
| Copyright © 2024 Tiger Royalties and Investments Plc |