Tigers Realm Coal (TIG) AGM 2025 summary

Opening remarks and agenda

• Meeting commenced at 3:00 P.M. online, with introductions and format outlined, including a Chairman's address and Q&A session.

• Board members present included Craig Wiggill (Chairman) and Mitch Jakeman (Director), with David Forsyth as Company Secretary.

Board and executive committee updates

• Dr. Bruce Gray stepped down from the Board in mid-2024 due to ill health, replaced by Kieran Travis, who later resigned in November 2024; efforts to replace him are ongoing.

• Craig Wiggill was up for re-election as Director, with significant proxy support noted.

Strategic initiatives and plans

• Shareholders previously approved the full disposal of all Russian companies and mining assets due to asset value erosion and sanctions.

• The sale process has faced delays due to Russian and Australian regulatory approvals and new Russian legislation imposing onerous financial conditions.

• The transaction was split into two parts by Russian authorities, with only partial approval received and the remainder pending presidential sign-off.

• The buyer has not signed the amended sale agreement, seeking further price reductions, which the Board has rejected.

• Alternative exit mechanisms are being explored due to the impasse in the sale process.