NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
SYDNEY, Australia, Oct. 18, 2012 /CNW/ -
The Manager ASX Market Announcements ASX Limited 4th Floor, 20 Bridge Street SYDNEY, NSW 2000
Dear Sir
Tiger Resources Limited (ASX / TSX: TGS) has on issue 24,216,577 unquoted warrants to subscribe for fully paid ordinary shares, each exercisable at $0.25 on or before 5 May 2013. These warrants were part of an issue of 95,328,975 unquoted warrants in May 2010 to Trafigura Beheer B.V. (the remainder having been subsequently exercised). The 24.2M warrants were recently divested as part of Trafigura's sale of its interest in the Company.
Pursuant to a waiver granted by ASX, the Company has, at the request of the warrant holder, made a minor modification to the terms and conditions of the warrants. Consequently, the 24.2M warrants can be disposed or exercised in minimum parcels of 4M (as opposed to 15M under the previous terms). This change was made in recognition of the fact that a much smaller number of warrants are now on issue and that they are now held as a portfolio investment rather than as a strategic holding, as was the case with Trafigura. No other changes have been made to the warrant terms and conditions.
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