5 questions asked at 2024 Tiger Realm Coal AGM
July 17, 2024
Here is the text of the 5 written questions submitted at the 2024 Tiger Realm Coal hybrid AGM held on May 28, along with a summary of the answers.
Q1. How certain are we that the $US49 million will be paid? What are the logistics of getting this sum of money out of Russia and back to Australia.
Answer: It will come via Dubai.
Q2. Did we have negotiations with any other potential buyers and what connections does the buyer have to the Russian state?
Answer: Lots of discussions were held but it was very hard to find a non-sanctioned buyer who the Finance Ministry would approve.
Q3. Could the auditor and chair please comment on how we are still claiming to have net assets of $175 million when the market cap is only $52 million. With $50 million of accumulated losses, what is the realistic total losses that investors in our company will suffer once this transaction completes?
Answer: the auditor didn't speak but this is what the chair said. Listen to audio of exchange via Twitter.
Q4. Could majority shareholder Dr Bruce Gray please offer his reflections on the journey so far. How much has he lost and, if he had his time again, what would he do differently?
Answer: was read out but he wasn't there so no answer provided.
Q5. What is the relationship between majority shareholder Bruce Gray and our chair? What would Mitch do differently if he had his time again?
Answer: the chair said there was a relationship going back to Anglo American Coal but he was independent.
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