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Tigers Realm Coal Limited (ASX:TIG)

ALERT: Price-sensitive ASX Announcement for TIG
Current share price for TIG : $0.003 0 (0%)+
Announcement
Release
31 Jan 2025 8:21AM
Price at Release
$0.003
Full Release
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Summary
Tigers Realm Coal Limited continues its process of selling its Russian subsidiaries, having entered into a Share Purchase Agreement with Limited Liability Company APM-Invest for a cash payment of US$49 million. The company has addressed conditions precedent to the sale and is awaiting presidential approval from Russian authorities, which has been delayed due to new legislation introduced in late 2024. Both parties remain committed to completing the sale despite the challenges posed by the new conditions. The company also reported a director resignation during this reporting period.
Key Points
  • Tigers Realm Coal Limited is concluding the sale of its Russian subsidiaries.
  • Entered into a Share Purchase Agreement with APM-Invest for US$49 million.
  • The sale proceeds are intended for returning capital to shareholders.
  • Awaiting presidential approval for the transaction from Russian authorities.
  • New legislation in Russia has delayed approval processes.
  • Both parties remain committed to completing the sale.
  • Director Keiran Travers resigned effective 5 November 2024.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.