Disposal of Rockrose Energy Plc

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 £341,354.30 representing a net gain of £293,854.30 on the disposal.  Rockrose announced on 26 January that company would distribute excess cash funds of £1.50 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 £142,500 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 £1,336,857 and had as at that date net assets of £2,191,354.

For further information please contact:

Tiger Resource Finance Plc
Raju Samtani, Director                                               Tel: [phone]

Beaumont Cornish (Nominated Adviser)              Tel: [phone]

Roland Cornish/ Felicity Geidt

Beaufort Securities Limited (Joint Broker)                     
Jon Belliss                                                                   Tel: [phone]

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

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