We have had the open offer and I have taken my entityment and a few more. What I now hope is the Directors use the cash to increase value rather than take the proceeds in fees. The only income we have is by selling assets to pay for the running expenses and I feel the Directors should take shares instead of cash for their work.
Last year there was a capital reorganisation to enable the company to issue shares. Recently there has be a change in adviser; why? A small cap company with limited cash would not pursue such action unless there is a bigger picture known only to the management. Could be interesting.
Not a lot going on here although the asset value is ahead of the sp and AST seems to have done well over the last couple of weeks. Also the Directors appear to be getting more pro active and with the sector being of interest 2017 could be a better year. If I'm not the only holder does anyone have any views?
The continued rise in Xtract is great news for Tiger as their remaining 125 million shares acquired for 0.04 pence are now worth over ten times the cost and worth 560k. this together with 600k in the bank and other investments equate to a value double the current share price
No one seems to be taking an interest in Tiger these days. I guess the remnant holdings after their cunning buyout is more or less worthless now, and the company is run to suit the board. Oh well, just as with Minmet, we've been had.
I now see that a report was published on May 29.
Seems to be a lot about 'conflicts of interest' and shareholder value, and a lot of waffle about global financial conditions over the past few years.
The directors seem to be doing fine.
Are we due an annual report here ?
Is there any point holding, as it seems that the company is simply - even more than from the start - run for the benefit of the directors.
I believe they changed the terms sometime last year so that the directors personally invested in new opportunities. Where does that leave PIs, left with the remnants of the buy out ?
I conclude Tiger do NOT hold any shares in XTR and the instruments are reporting this incorreclyt and this could well be trading anywhere relative to NAV being reported all year. Be very very very careful.
....In the right direction, DYOR, BUT HAVE A LOOK AT THIS BUNCH OF BEAUTIES...?
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Waiting for progress reports can test everyone's patience and is not what every pi relishes and sheer boredom creates the inevitable sell offs? While your patience is being tested, have a look at this collection of potential multi-baggers, that could get your cash moving in the right direction!Finally making its mark
ASCENT Resources-AST...finally showing great progress, sp has plenty of upsides!
Eng said Ascent is aiming of revenue generation from the two wells tested already by the middle of 2012 ahead of a major expansion in following years that could see between 15-30 wells on the main development.
The field, which he says is large by European standards, already has infrastructure is already in place from preliminary production from the reservoir in 1980.
Any gas from the field will be sold in to Slovenia initially, though there may be export possibilities.
House broker finnCap said todays announcement underpins future redevelopment of the field.
Ascent has begun to de-risk the Middle Miocene and has made a new discovery in the deeper Miocene, said Will Arnstein, an analyst at the broker. http://www.proactiveinvestors.co.uk/companies/news/36136/ascent-resources-shares-soar-on-better-than-expected-flows-at-petisovci-36136.html
The AIM-listed global software company presented its results for the six months ended 30 September 2011. John Wisbey (CEO) and Paul Tuson (CFO) presented the results. The directors believe that the company is the number one in UK bank regulatory reporting. Its new technology in the Bank Regulator reporting solution has had a very good client reaction and is believed to be ahead of its competitors.
The group's IP is a major corporate asset and the company has been generating strong revenue (£6.4 million now and £5.8 million in 2010), profits (pre-tax profit £1.8 million in 2011 and £0.2 million in 2010) and cash (net cash at period end was £1.3 million in both years). There is a high level of recurring revenues.
There are over 200 staff in five countries - major centres in London and Shanghai. Wisbey said that most of the staff members were in China, which meant lower costs for the company as the salaries in China are around 30% of those paid to UK staff members.
Many contracts have been won by the company this year - COLLINE with two Tier 1 banks and several others. There has been a global increase in demand for risk management software, so Lombard should continue to benefit.
so the statement says they are hoping to bring the share price closer to the value of the company ... and also to raise capital to invest in others that have seen their value fall below what is felt is their true value.
i could sell and look for opportunities ... or stay and let them look for opportunities. If i sell part of my holding it will release some cash at a price which could be a peak for some time before and possibly after ... but knowing myself i probably would stay out of the market.
Not an easy decision ... sell and say good ridance ... stay and gamble on the management who are stating their intention to do something and backing that intention with actions like this ... sell part and forget the rest at the bottom of the drawer ... i guess it depends on your risk nature ... mine is favouring the last option ... sell part and forget the rest.
All IMO and subject to calculation errors, taxation implications etc but hope this helps.
The tender seems like a good deal, selling for 0.7p over the share price without dealing costs. If you don't tender I think the NAV will increase slightly, example below.
3.75p offer price against 4p last known NAV means every share tendered adds 0.25p to the total remaining NAV. If 25% of shares (easier maths than 28.97%) are tendered this means the remaining NAV/share would increase from 4p to 4.08p?
I am tempted to tender my entire holding, aiming for a sale above market price without dealing costs. Then repurchase a larger holding for a similar cost unless the NAV discount has closed, in which case I'd either remain out or just keep whatever wasn't accepted in the tender.
I have been waiting for views from those of you who know better than me!
I only just recd the email re my 'nominee' holdings but got the 'book offer' at least a week ago iro my EIS holding which remains in cert form
(i was told that to get it into nominee acct would cause it to be technically a 'sell' and i would lose the EIS status
i didnt see that bit about being part divi
that makes a difference!
Hi there ProDave!
I am currently mulling over what action to take - the offer document appears to indicate that part of this would be treated as a dividend and subject to tax accordingly. I'm not quite clear as to how much this would be - from what I can make out the 'dividend' would be the difference between the 2p share price and 3.75p - i.e. 1.75p per share. What I'm attempting to work out is whether taking the 'dividend' etc at the 3.75 offer price is more beneficial than potentially selling at a lower price but paying no CGT (my holdings too small!).
Any opinions or ideas would be greatly appreciated.
Well I take it no Tiger share holders ever read this board then?
For over a week I've had in my In tray details of the proposed share buy back offer
If I'm reading it correctly (and it;s all in legal mumbo jumbo) the company are offering to buy back shares at a price of 3.75p per share. This is the recently anounced "return of capital to shareholders"
If I am understanding it correctly, you can nominate to sell any amount of your holdings. If the offer is over subscribed, you will only sell some of your shares at that price. You are guaranteed to be able to sell 28.97 percent of your holding for that price.
I thought this board would be alive with discussion. the fact it is not reflects the lack of interest in this company.
Closing date for applying for share buy back is 30th September 2011.
I guess this offer is the reason for the recent spike in the market price?
Opinions please, sell some, keep them all, or try and sell the lot?
Tiger Resource Finance Plc ("the Company" or "Tiger") announces that its board of directors (the "Board") is currently considering a return of capital to shareholders. The Board is of the opinion that market conditions have dictated that the price of the Company's shares do not reflect the underlying value of the Company's investments and cash. In order to align the market value with the net asset value of the Company, the Board is assessing a return of capital to shareholders from Tiger's distributable reserves.
Thanks to those who have posted news. I would have gone to the AGM if I had realised the importance. I did attend a meeting of Minmet when Shak and others tried to get the truth out of the then directors.
I wonder how long 'in due course' will be, with regard to any distribution. Thanks to those who are working on behalf of shareholders. The annual reports have been promising to maximise shareholder value for many years, but more effort seems to have gone into producing glossy reports than in working for investors.
Bruce Rowan is quoted as chairman of Sunvest and Starvest, which were involved in the Minmet scandal.
Michael Nolan was CEO of Minmet while the assets vapourised.
Can anyone give a link to the advn posts please.
AGM on Tuesday 21 June was excellent. Rowan & his fellow directors got a well deserved thrashing from Simon Calkwell, Was Shakoor and others... over a period of years management have consistently and comprehensively proved themselves unworthy of our investment and trust... Essentially we want our money returned - if Tiger's management have any sense they will take heed and start acting in shareholders best interests immediately.
Rowan played for time by conceding his £80k p.a. 'salary' for 6 months -
what many of us would like to see is the company wound up and our capital returned - The massive discount to N.A.V. is a clear indication of the market's poor opinion of the company and its 'managers'.
"I have set myself up on behalf of myself and other shareholders in Tiger Resource Fianance (TIR) to see that all shareholders, and not just Bruce Rowan, get a fair deal. It is true that Rowan has announced an intention to close the gap between the share price, now 2.5p, and Tangible Net Asset Value of 4.22p. But it is hard to take this assertion seriously given that the administration overheads for the year ended 31st December 2010 were £364,000 in relation to net assets of the order of £8m held as an investment fund"
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