Completion of Retail Entitlement Offer
Perth, Sep 24, 2014 AEST (ABN Newswire) - On 28 August 2014, Tiger Resources Limited (
ASX:TGS) ("Tiger") announced a fully underwritten 1 for 5 non-renounceable entitlement offer ("Entitlement Offer") to raise approximately $53.9 million. The institutional component of the Entitlement Offer was completed on Monday, 1 September 2014, raising approximately $26.1 million together with a $19.5 million placement to institutional investors.
The retail component of the Entitlement Offer ("Retail Entitlement Offer") closed at 5:00pm (Sydney time) on Friday, 19 September 2014. Eligible retail shareholders have subscribed for a total of 3,625,992 shares (representing approximately $1.088 million) under the Retail Entitlement Offer.
As the Retail Entitlement Offer is fully underwritten, the balance of 89,016,695 new shares (representing approximately $26.7 million) comprising shares not subscribed for by eligible retail shareholders, together with the entitlements of ineligible retail shareholders, will now be subscribed for under the terms of the Underwriting Agreement.
Shares subscribed for under the Retail Entitlement Offer and shares subscribed for under the Underwriting Agreement are expected to be issued on Friday, 26 September 2014 and commence quotation on ASX on Monday, 29 September 2014.
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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