Tigers Realm Coal (ASX: $TIG) Sale of Russian Operations Update

Tigers Realm Coal Limited (ASX: $TIG) has announced the disposal of all participating interests in its Russian operations to Limited Liability Company APM-Invest for a cash payment of US$49,000,000. The share purchase agreement dated 12 April 2024 outlines the terms of the transaction, with the Company having satisfied all its responsibilities for the completion under the agreement. The only remaining condition precedent to completion is the receipt of Presidential approval for the Transaction by APM-Invest.

Executive Commentary

The satisfaction of the Counterparty Condition is not within the Company's control, and the Company is now waiting for the final approval to be issued. APM-Invest has obtained all necessary signatures of the relevant ministries, and the file is now with the Fuel and Energy Commission, responsible for providing the final sign off and approval to APM-Invest in relation to the Counterparty Condition. The Company will continue to keep the shareholders informed of the progress of the Transaction and the steps it will take once the Transaction completes.

Summary

Tigers Realm Coal Limited (ASX: $TIG) has successfully satisfied its responsibilities for the completion under the share purchase agreement for the disposal of its Russian operations to APM-Invest. The only remaining condition precedent to completion is the receipt of Presidential approval for the Transaction by APM-Invest. The Company will continue to keep the shareholders informed of the progress of the Transaction and the steps it will take once the Transaction completes. The outlook includes the Company's commitment to transparency and communication with its shareholders regarding the progress and completion of the Transaction.