Tigers Realm Coal (TIG) Q4 2024 TU earnings summary

Executive summary

• Entered into a Share Purchase Agreement to sell Russian subsidiaries and mining/port operations for US$49 million, with proceeds intended for capital return to shareholders.

• All conditions precedent under the SPA that were TIG's responsibility have been satisfied; only Russian Presidential approval remains outstanding.

• Both parties remain committed to completing the sale, with no termination rights exercised after 31 December 2024.

Significant events and developments

• Russian authorities introduced new legislation in late 2024, delaying transaction approvals, including TIG's.

• Director Keiran Travers resigned effective 5 November 2024.

Capital allocation and financing

• Proceeds from the Russian asset sale are intended to be returned to shareholders upon completion.