Microsoft Word - 20160120 ASX announcement (shortfall shares).docx
ABN 52 077 110 304
20 January 2016 ASX Release
Tiger completes retail component of capital raising
Perth, Western Australia: Tiger Resources Limited (ASX:TGS) ("Tiger" or the "Company") is pleased to announce the successful completion of the retail component of its non-renounceable accelerated entitlement offer ("Retail Entitlement Offer") announced on 16 December 2015.
Under the Retail Entitlement Offer, Tiger received valid applications from eligible retail shareholders (including applications for additional new shares) for approximately 107 million new shares, raising ~A$5 million (US$3.5 million). ~US$13 million was raised via the institutional component of the entitlement offer and the placement to Resource Capital Funds ("RCF"), as announced on 18 December 2015.
The shortfall from the entitlement offer is 239.8 million shares and RCF and International Finance Corporation ("IFC") will subscribe for 48,668,852 shortfall shares (US$1.57 million) and 154,738,878 shortfall shares (US$5 million) respectively under the terms of their subscription agreements with Tiger.
Upon completion of RCF's final tranche subscription and IFC's subscription, Tiger will have raised gross proceeds of ~US$23 million via the entitlement offer and placement as it works towards drawdown of the US$162.5 million finance facility with IFC and Taurus Mining Finance Fund by month's end.
For further information, please contact:
Mike Griffiths
Interim Chief Executive Officer Tel: (+61 8) 6188 2000
Email: [email protected]
Stephen Hills
Finance Director
Tel: (+61 8) 6188 2000
Email: [email protected]
Nathan Ryan
Investor Relations
Tel: (+61 0)420 582 887
Email: [email protected]
Level 1, 1152 Hay Street, West Perth, WA 6005 - PO Box 379, West Perth, WA 6872
T: +61 (0)8 6188 2000 F: +61 (0)8 6188 2099 E: [email protected] W: www.tigerresources.com.au