COAL MINES AND MINING – RUSSIA

Shareholders approve fire sale of Russian mines to tycoon with former links to sanctioned oligarchs

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Original article by Sumeyya Ilanbey
The Age – Page: Online : 29-May-24

Some 99 per cent of Tigers Realm Coal’s shareholders have voted in favour of a deal to sell all of its assets to APM Invest, which is owned by Russian businessman Mark Buzuk. The $US49m ($74m) deal to sell two coking coal mines and an export terminal in Russia follows a court ruling in April that the company was in breach of trade sanctions imposed following the invasion of Ukraine. Tigers Realm chairman Craig Wiggill says Buzuk was carefully screened and was found to have no current links to the Russian state or any entities that are subject to the trade sanctions. However, he is a former business associate of two Russian oligarchs who have been sanctioned.

CORPORATES
TIGERS REALM COAL LIMITED – ASX TIG, APM INVEST

Tigers Realm sells out of Russia

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Original article by Cameron England
The Australian – Page: 18 : 16-Apr-24

Tigers Realm Coal has advised that it will divest its sole operating assets and return the proceeds of the $US49m transaction to shareholders. Tigers Realm has agreed to sell its coking coal projects in Siberia and an associated coal export terminal to APM-Invest, a company that is owned by Russian businessman Mark Buzuk. Tigers Realm says its board was of the view that selling its assets is in the best interests of shareholders. The move follows the Federal Court’s recent ruling that Tigers Realm was in breach of sanctions imposed on Russia in response to the invasion of Ukraine.

CORPORATES
TIGERS REALM COAL LIMITED – ASX TIG, APM-INVEST, FEDERAL COURT OF AUSTRALIA