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Tigers Realm Coal Limited (ASX:TIG)

ALERT: Price-sensitive ASX Announcement for TIG
Current share price for TIG : $0.003 -0.001 (-25%)+
Announcement
Release
30 Aug 2024 8:22AM
Price at Release
$0.004
Full Release
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Summary
Tigers Realm Coal Limited (ASX:TIG) announced that the Federal Court of Australia dismissed its application for declaratory relief, ruling that the activities of the Company's Russian subsidiaries constitute 'sanctioned imports' under Australian law. The company is working with the Department of Foreign Affairs and Trade to ensure compliance with the Australian Sanctions Regime. Additionally, Tigers Realm Coal Limited has made progress in selling its Russian operations to APM-Invest, expecting the final condition to be satisfied soon.
Key Points
  • Federal Court of Australia dismissed the Company's application for declaratory relief.
  • Activities of the Company's Russian subsidiaries are deemed 'sanctioned imports'.
  • Consultation with the Department of Foreign Affairs and Trade for compliance.
  • Company's board is taking steps to comply with the Australian Sanctions Regime.
  • Progress in selling Russian operations to APM-Invest for US$49,000,000.
  • Final condition for the sale is expected to be met soon.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.