Investor Presentation Acquisition of Remaining 40% in Kipoi
Perth, Aug 28, 2014 AEST (ABN Newswire) - Tiger Resources Limited (
ASX:TGS) provides the Investor Presentation Acquisition of Remaining 40% in Kipoi with the executive summary reproduced below.
Acquisition
- Tiger to acquire all rights and interests of 40% shareholding in SEK SA, excluding the 2.5% gross income royalty (retained by Gecamines)
- Acquisition price of US$111.0 million
Acquisition Funding
- Placement of A$19.5 million
- 1:5 Entitlement Offer to raise A$53.9 million
- US$100.0 million bridge facility (subject to customary conditions to drawdown)
Capital Raising
- Placement and fully underwritten accelerated non-renounceable entitlement offer
- Offer price of A$0.30 per share
Acquisition Timing
- US$6.5 million deposit paid
- US$104.5 million balance due by 10 November 2014
Government Interest
- After completion of the acquisition, Tiger intends to cede a 5% interest in SEK to the DRC Government to align Kipoi's mining titles with the DRC Mining Code.
To view the Investor Presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TGS-689291.pdf
About Tiger Resources Limited
Tiger Resources Limited (ASX:TGS) has established itself as a producing copper/cobalt company with excellent growth potential after making the transition from an explorer. We have a highly-rated portfolio of properties, all strategically located on the world renowned Katanga Copperbelt in the Democratic Republic of the Congo (DRC), central Africa.
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