Tiger Resource Regulatory News (TIR)

Investments

Number

Cost

Valuation

30/06/2009

30/06/2009

30/06/2009

£

£

African Eagle Resource Plc

1,241,274

112,264

86,882

Africa Oil Exploration Plc  

625,000

100,000

17,188

Ascent Resources Plc

24,642,857

550,824

924,107

Franconia Minerals Corp

475,733

69,939

64,770

Gold Fields Ltd

10,500

32,759

78,010

Minmet Plc

873,574

241,135

8,736

Nautical Petroleum Plc

450,000

180,000

253,125

Pacific North West Corp

566,500

107,682

28,181

Pan African Resources Plc

5,098,333

175,013

280,408

Ridge Mining Plc (1)

50,000

89,239

41,250

Sunrise Diamonds Plc

665,000

6,650

4,655

Tertiary Minerals Plc

1,330,000

119,700

34,913

U308 Holdings Plc 

4,166,666

125,000

119,792

Vatukoula Gold Mines Plc  

13,333,332

200,000

153,333

2,110,205

2,095,350

TIGER RESOURCE FINANCE PLC

INCOME STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2009

(Unaudited)

(Unaudited)

(Audited)

Six months 

Six months 

Year

ended

ended

ended

30 June 09

30 June 08

31 Dec 08

£

£

£

Administrative expenses

(132,963)

(121,949)

(376,525)

Profit (loss) on sale of non-current investments

(48,754)

199,797

159,797

Investment income

13,239

-

1,335

Interest receivable

8,554

103,682

189,662

Impairment

-

-

(288,435)

PROFIT (LOSS) BEFORE TAXATION

(159,924)

181,530

(314,166)

Taxation

-

(54,459)

30,653

PROFIT (LOSS) ATTRIBUTABLE TO EQUITY SHAREHOLDERS

(159,924)

127,071

(283,513)

Basic earnings per share

(0.09)p

0.07p

(0.16)p

Diluted earnings per share

(0.09)p

0.07p

(0.16)p

TIGER RESOURCE FINANCE PLC

BALANCE SHEET AT 30 JUNE 2009

(Unaudited)

(Unaudited)

(Audited)

30 June 09

30 June 08

31 Dec 08

£

£

£

NON CURRENT ASSETS

Financial assets

Investments at fair value

2,095,350

4,205,180

1,510,718

CURRENT ASSETS

Debtors

17,349

23,234

8,615

Cash and cash equivalent

3,585,926

4,077,954

3,674,055

VAT 

85

-

85

3,603,360

4,101,188

3,682,755

TOTAL ASSETS 

5,698,710

8,306,368

5,193,473

NON CURRENT LIABILITIES 

Deferred tax liabilities

-

(589,721) 

-

CURRENT LIABILITIES 

Creditors

(30,127)

(372,890)

(38,837)

TOTAL LIABILITIES

(30,127)

(962,611)

(38,837)

NET ASSETS

5,668,583

7,343,757

5,154,636

EQUITY ATTRIBUTABLE TO SHAREHOLDERS

Called up share capital

2,020,719

2,020,719

2,020,719

Share premium account

1,557,831

1,557,831

1,557,831

Share capital redemption

350,000

350,000

350,000

Revaluation reserve account

273,585

1,376,016

(400,286)

Share based payment reserves

130,118

130,118

130,118

Profit and loss account

1,336,330

1,909,073

1,496,254

TOTAL EQUITY

5,668,583

7,343,757

5,154,636

TIGER RESOURCE FINANCE PLC

STATEMENT OF CHANGES IN EQUITY AS AT 30 JUNE 2009

Share capital

Share premium

Capital redemption reserves

Revaluation reserves

Share based payment reserves

Accumulated profit

Total

£

£

£

£

£

£

£

As at 1 January 2008

2,020,719

1,557,831

350,000

3,783,008

130,118

1,858,742

9,700,418

Issue of share capital

-

-

-

-

-

-

-

Premium on issue of share capital

-

-

-

-

-

-

-

Shares cancellation

-

-

-

-

-

-

-

Revaluation of investment

-

-

-

(2,681,318)

-

-

(2,681,318)

Deferred tax liability 

-

-

-

881,449

-

-

881,449

Transfer to profit on sale of investments

-

-

-

(225,202)

-

-

(225,202)

Exercise of warrants

-

-

-

(381,921)

-

-

(381,921)

Costs of options payments 

-

-

-

-

-

-

-

Share buy back

-

-

-

-

-

(76,740)

(76,740)

Net profit for the period

-

-

-

-

-

127,071

127,071

As at 30 June 2008

2,020,719

1,557,831

350,000

1,376,016

130,118

1,909,073

7,343,757

Issue of share capital

-

-

-

-

-

-

-

Premium on issue of share capital

-

-

-

-

-

-

-

Shares cancellation

-

-

-

-

-

-

-

Revaluation of investment

-

-

-

(2,654,458)

-

-

(2,654,458)

Deferred tax liability 

-

-

-

589,721

-

-

589,721

Transfer to impairment 

-

-

-

288,435

-

-

288,435

Transfer to profit on sale of investments

-

-

-

-

-

-

-

Costs of options payments

-

-

-

-

-

-

-

Share buy back

-

-

-

-

-

(2,235)

(2,235)

Net loss for the period

-

-

-

-

-

(410,584)

(410,584)

As at 31 Dec 2008

2,020,719

1,557,831

350,000

(400,286)

130,118

1,496,254

5,154,636

Issue of share capital

-

-

-

-

-

-

-

Premium on issue of share capital

-

-

-

-

-

-

-

Shares cancellation

-

-

-

-

-

-

-

Revaluation of investment

-

-

-

601,132

-

-

601,132

Deferred tax liability

-

-

-

-

-

-

-

Transfer to profit on sale of investments

-

-

-

72,739

-

-

72,739

Exercise of warrants

-

-

-

-

-

-

-

Costs of options payments

-

-

-

-

-

-

-

Share buy back

-

-

-

-

-

-

-

Net profit for the period

-

-

-

-

-

(159,924)

(159,924)

As at 30 June 2009

2,020,719

1,557,831

350,000

273,585

130,118

1,336,330

5,668,583

TIGER RESOURCE FINANCE PLC

CASH FLOW STATEMENT FOR THE PERIOD TO 30 JUNE 2009

(Unaudited)

(Unaudited)

(Audited)

30 June 09

30 June 08

31 Dec 08

£

£

£

Cash flow from operations

Administrative expenses

(132,963)

(121,949)

(376,525)

Decrease/(Increase) in debtors

(8,734)

(9,613) 

105,005

Decrease in creditors

6,141

(21,687)

(11,176)

Share option charges

-

- 

-

Interest received

8,554

103,682 

192,279

Other income and investment income received

-

- 

1,335

Receipts from sale of fixed asset investments

40,485

324,797 

324,797

Payments to acquire fixed asset investments

-

(325,000) 

(425,000)

Corporate tax paid

(1,612)

-

(262,149)

Net cash flow from operations

(88,129)

(49,770)

(451,434)

Cash flow from financing activities

Issue of shares

-

- 

-

Purchase of own shares for treasury

-

(76,740)

(78,975)

Net cash flow from financing

-

(76,740)

(78,975)

Net increase/(decrease) in cash in the period

(88,129)

(126,510) 

(530,409)

Cash at the beginning of the period

3,674,055

4,204,464 

4,204,464

Cash at the end of the period

3,585,926

4,077,954 

3,674,055

Interim Report - Notes

1

The financial information for the six months ended 30 June 2009 and 30 June 2008 is unaudited. The interim accounts have been prepared using the same accounting policies that were used in the Group's statutory accounts to 31 December 2008. In the opinion of the directors the financial information for these periods represents fairly the financial position, operations and cash flows for the period in conformity with International Financial Reporting Standard (IFRS). The interim statement for the six months ended 30 June 2009 was approved by the directors on 29 September 2009.

2

The financial information for the year ended 31 December 2008 does not constitute full accounts, it is an extraction from the Company's accounts for the year in which they have been delivered to the Registrar of Companies and on which the auditors gave an unqualified report.

3

Earnings per ordinary share included in the Income Statement and the NAV calculation is based on weighted average number of shares of 172,621,254.

4

Copies of this interim report are available to the public, free of charge, from 4th Floor,  2 Cromwell Place, London SW7 2JE, during normal office hours. A copy will also be posted on Tiger Resource Finance plc's website www.tiger-rf.com.