10.        CALLED UP SHARE CAPITAL

The share capital of Tiger consists of fully paid ordinary shares with a nominal value of 0.1p each and deferred shares with a nominal value of 0.9p each. Ordinary shares of 0.1p are eligible to receive dividends and the repayment of capital and represent one vote at the shareholders' meeting of The Company. The deferred shares carry no dividend or voting rights.

Included in allotted called and fully paid share capital are 4,500,000 shares with a nominal value of £4,500 held by the company in treasury.

11.        Share Warrants

Each of the participants in the Fundraising/shares issue on 20 December 2022 received one warrant exercisable at 0.3 pence for each Fundraising Share which they subscribed, valid for two years. These have now expired and none were exercised.

12.        RELATED PARTY TRANSACTIONS

(1)    Lion Mining Finance Limited, a company in which Colin Bird is director and shareholder, has provided administrative and technical services to the Company amounting to £50,000 plus VAT in the year (2023 - £60,000 plus VAT). There was an amount of £186,000 outstanding at 31 December 2024 (2023- 132,000). The Board considers this transaction to be on an arms' length basis.

(2)    The emoluments of the Directors and amounts due to each director at year end are disclosed in note 3. Directors' shareholdings are disclosed in the Report of the Directors.

13.        POST-REPORTING DATE EVENTS

The Company, having previously reported that the natural resource sector is inherently high risk and of a cyclical nature, considering that the current fluctuations in world economic activity, the impact on the demand for minerals and oil and gas and recent scarcity of capital for the sector should be considered against the ability to create value for the Company's shareholders. Such considerations led to the Board proposing to broaden the scope of investments to include incubating and investing in new technology projects which source funds by means of not only traditional funding structures (i.e. debt and equity) but also by the issue of beneficial interest in projects including crypto assets such as tokens and Meme coins.

Building on the Company's existing ability to incubate and structure investee companies, the Board to set up a division with the distinct role of investing in new technology, to allow Tiger to participate in this early-stage value creation process. The division will utilize a wholly-owned Canadian technology consultancy and incubator company, Bixby Technology Inc. ("Bixby Technology") which was acquired from the founder, Jonathan Bixby (the "Transaction") on 6 January 2025. As part of the Transaction Jonathan Bixby joined the Board of Tiger on 10 January 2025, and Bixby Technology is intended to identify technology enterprises to invest in and incubate by providing incubation services and mentorship to technology entrepreneurs. Bixby Technology will be targeting new fast growth technology products and projects in return for project participation (the "Technology Incubation Projects") in line with the previous carry interest mechanics of Tiger under its existing Investing Policy.

The below was approved in the Company General Meeting held at the offices of Fladgate LLP, 16 Great Queen Street, London WC2B 5DG at 4.00pm on 6 January 2025.

In conjunction with the Transaction, the Company raised £3 million by means of a placing and subscriptions (together the "Fundraising") to support the activities as contemplated under the revised Investing Policy.

Bixby Technology is a newly formed technology consultancy company controlled by Consulting Limited ("Toro"), a company in turn controlled by Jonathan Bixby. Jonathan Bixby has significant experience in quoted companies, and in the new technology sector and the board of Tiger consider him essential to the expanded Investing Policy.

Jonathan was a founder and major investor in Argo Blockchain (ARB), Guild Esports (GILD) and Cellular Goods (CBX) - all listed on the London Stock Exchange. Jonathan is also the Chairman of File Forge Technology PLC, Kondor AI PLC and Cykel AI PLC listed on the AQUIS market. As well as AQUIS listed Phoenix Digital Assets (formerly NFT Investments) Jonathan has extensive experience in technology companies and capital raising and has agreed to join Tiger as a key stakeholder and executive director. Jonathan has agreed that the current pipeline of Technology Incubation Projects which he has been developing and which fit within the new Investing Policy will be developed by Bixby Technology which as a newly formed company otherwise has no assets and liabilities and no trading results.

On 19 December 2024 Toro and the Company entered into a conditional agreement ("Acquisition Agreement") for the sale and purchase of the entire issued share capital of Bixby Technology. The conditions to the Acquisition Agreement included the passing of the resolutions to be proposed at the General Meeting and Admission.

Under the Acquisition Agreement, the total consideration to acquire Bixby Technology from Toro Consulting was £325,000, payable in cash. To execute the new division Jonathan Bixby has committed to Toro Consulting subscribing £325,000 in cash for shares in the Company ("Toro Shares") at 0.1 pence per Ordinary Share (the "Fundraising Price"). The consideration due to Toro under the Acquisition Agreement can be set off against the amounts due from Toro in respect of the Toro Shares. As part of the subscription for the Toro Shares, Toro Consulting will be issued 325 million warrants exercisable at the Fundraising Price (so with an aggregate exercise price of £325,000) for a 24-month period from grant ("Toro Warrants"). The Toro Warrants will have a vesting restriction which is the earlier of i) 12 months from grant and ii) the share price being 4x the Fundraising Price. Toro has given the Company customary warranties under the Acquisition Agreement (including in relation to the Technology Incubation Projects). The liability of Toro in relation to such warranties is limited to £325,000.

As referred to above, the Company raised £3 million by means of Fundraising to support proposed activities under the new expanded Investing Policy. The Company issued Ordinary Shares under the Fundraising ("Fundraising

Shares") but also in settlement of fees due to current directors and to a related party ("Accrued Conversion Fee Shares") which are set out in more detail below.

The Toro Shares, Fundraising Shares and Accrued Fee Conversion Shares will all be issued at the Fundraising price (i.e. 0.1 pence per Ordinary Share) being the middle market share price as at 19 December 2024 of 0.1 pence being the latest practical date prior to this transaction.

Under the Acquisition Agreement, the Toro Shares cannot be sold without the prior written consent of the Company, nor any interest in them for a period of six months after the date of Admission; and thereafter will be the subject of six-month orderly market provisions in the Acquisition Agreement.

In addition to Jonathan Bixby joining the Board, Brian Stockbridge was appointed as an additional independent non-executive director on 10 January 2025, to support both the new technology investment strategy and governance. Michael Nolan, currently a non-executive director, resigned at the completion of the Transaction on 9 January 2025.

The Company raised £3,000,000 before expenses (the "Fundraising") at 0.1 pence per Ordinary Share (the "Fundraising Price") for the issue of 3,000,000,000 new Ordinary Shares (the "Fundraising Shares") conditional upon the completion of the Acquisition and the admission of the Fundraising Shares to trading on AIM ("Admission").

The Fundraising comprised a placing of 2,475,000,000 new Ordinary Shares (the "Placing Shares") for £2,475,000 at the Fundraising Price (the "Placing"), via Fortified Securities ("Fortified") with Shard Capital Partners LLP ("Shard") acting as placing agent and share subscriptions for 525,000,000 new Ordinary Shares at the Fundraising Price to raise £525,000 (the "Subscription Shares").

The Company, Beaumont Cornish, Fortified and Shard have entered into a placing agreement in relation to the Placing (the

"Placing Agreement"). Under the Placing Agreement Beaumont Cornishreceived a total fee of £30,000 plus VAT of which

£5,000 plus VAT and Shard were due to be paid a fee of £12,375 plus VAT. In addition, Fortified, following Admission, received a placing commission of £180,000, which was satisfied by issuing 180,000,000 Ordinary Shares to Fortified (the "Fortified Fee Shares") credited as fully paid at the Fundraising Price. The Placing Agreement contained customary provisions including certain warranties by the Company in favour of Beaumont Cornish, Fortified and Shard

The Fundraising included £60,000 subscribed for by Colin Bird, Tiger's Executive Chairman for 60,000,000 Subscription Shares, £20,000 subscribed for by Sylvia Vrska the wife of Colin Bird, for 20,000,000 Subscription Shares, and £70,000 by Raju Samtani, Tiger's Finance Director for 70,000,000 Subscription Shares representing in aggregate 5.00 per cent. of the total Fundraising amount.

The Fundraising also included £75,000 subscribed by Sanderson Capital Partners Ltd who are a 18.85% shareholder for 75,000,000 Subscription Shares and £170,000 subscribed by Clive Roberts who is a 15.88% shareholder for 170,000,000 Placing Shares.

The Fundraising Price is also the par value of the Ordinary Shares and is at the middle market share price as at 19 December 2024 of 0.1 pence being the latest practical date prior to this transaction

The Fundraising Shares represent, in aggregate, approximately 68 per cent. of the Company's enlarged issued share capital as enlarged by the issue of the Toro Shares, the Accrued Fee Conversion Shares (as defined below), the Transaction Shares (as defined below) and the Fortified Fee Shares (together the "New Shares"). The New Shares are fully paid and rank pari passuin all respects with the Company's existing Ordinary Shares.

Accrued Fee Conversion Shares

As noted in the Company's interim results for the six months ended 30 June 2024, the Company had historic indebtedness and as stated therein, the current liability figure of £463,208 (2023: £246,516) included an accrual of £219,917 (2023: £108,628) relating to Director's salaries/fees, the oldest one being for 24 months ended 30 June 2024. The current liability figure also included a creditor of £165,000 (2023: £96,000) payable to Lion Mining Finance, which is also a related party by reason of being owned by Colin Bird.

At the Company's 2024 AGM, the shareholders approved the issue of shares to Directors, management and consultants to settle accrued fees. In order to resolve this situation, the parties involved have agreed to settle the amounts owing as at 31 October 2024 by the issue of 206,479,165 Ordinary Shares which will be subject to a 6 month lock up on the following basis:

As set out above the parties have agreed to waive amounts owed to them of £202,167 in aggregate.

Accrued Fees

As the Company recognised that the market appetite for small solely minerals-focused investing companies was diminishing and wished to broaden the scope of its investments to include those in new technology, it appointed Sanderson Capital Partners to identify and introduce to the Company a technology company and / or technology investor with appropriate experience and expertise to accomplish this objective. Sanderson Capital Partners introduced the Company to Jonathan Bixby and Bixby Technologies and accordingly was due a fee of £75,000 on completion of the Acquisition.

Fees due to certain consultants in relation to the Transaction and the Fundraise of £155,000 in aggregate was settled by the issue of 155,000,000 new Ordinary Shares at the Fundraising Price ("Transaction Shares") and subject to a six month lock up from Admission. The Transaction Shares include 75,000,000 Transaction Shares to be issued to Sanderson Capital Partners Ltd to settle their introduction fee of £75,000. The Transaction Shares being issued to Sanderson Capital Partners Ltd will be subject to a six-month orderly market agreement once the initial six month lock up period expires

Director's update shareholdings:

The table below shows the current shareholdings of the current Directors and the proposed directors and their associates and their shareholdings after the issue of the Toro Shares, the Fundraising Shares, the Accrued Fee Conversion Shares, the Transaction Shares and the Fortified Fee Shares.

Non-Director shareholders with 3% or greater shareholdings:

The table below shows the current shareholdings of non-director shareholders who will own 3% or more of the Ordinary Shares after the issue of the Consideration Shares, Fundraising Shares, Accrued Fee Conversion Shares and Transaction Shares.

Share Option Arrangements

To incentivise and retain directors, officers, consultants and employees to enhancing the future market value of the Company the Company intends (in addition to incentive schemes approved at the Company's annual general meeting held on 1 August 2024) subject to shareholder approval to approve the issue of share options (the "Share Option Agreements") for its directors, senior management, consultants and employees on the following terms:

(i) the number of options to be issued shall not exceed 20 per cent. of the issued share capital of the Company from time to time;

(ii) the exercise price of the options shall be determined by the remuneration committee of the Board of directors of the Company based on the volume weighted average share price of the Company in the 30 days preceding the issue of the options and/or the price at which the Company has issued shares in the 30 days preceding the issue of the options

(iii) the allocation of the options shall be determined by the remuneration committee of the Board of Directors of the Company;

(iv) the options shall vest in accordance with the terms of the Share Option Agreement; and

(v) the options should be exercised within ten years of the date of the approval resolution.

Subject to the approval of the remuneration committee it is the intention that after completion of the Acquisition the Company would award options under Share Option Agreements equivalent to 20 percent of the enlarged share capital of the Company after the issue of all new Ordinary Shares referenced above with an exercise price equal to the Fundraising Price (the "Proposed Share Options"). So as to align the Proposed Share Options with the interest of shareholders which is primarily increases in the Company's share price it is anticipated they would vest over 2 years based on share price hurdles by reference to multiples of the Fundraising Price.

14.        CONTINGENT LIABILITIES

There were no contingent liabilities at 31 December 2024 (2023 - None).

There were no operating or financial commitments or contracts for capital expenditure in place for the Company as at the reporting date (2023: £nil).

15.        FINANCIAL INSTRUMENTS

Management of Risk

The Company's financial instruments comprise:

§ Investments held at fair value through profit or loss

§ Cash, short-term receivables and payables

Throughout the period under review, it was the Company's policy that no trading in derivatives shall be undertaken. The main financial risks arising from the Company's financial instruments are market price risk and liquidity risk.

Liquidity risk arises principally from cash and cash equivalents, which comprise cash at bank (repayable on demand). The Company has no overdraft facilities. The carrying amount of these assets are approximately equal to their fair value.

Credit risk is not significant, but is monitored. The Board regularly reviews and agrees policies for managing each of these risks and they are summarised below. These policies have remained constant throughout the period.

Financial Assets and Liabilities

Financial Assets

Financial Liabilities

Market risk

Market risk consists of interest rate risk, foreign currency risk and other price risk. It is the Board's policy to maintain an appropriate spread of investments in the portfolio whilst maintaining the investment policy and aims of the Company. The Investment Committee actively monitors market prices and other relevant information throughout the year and reports to the Board, who is ultimately responsible for the Company's investment policy.

Interest rate risk

Changes in interest rates would affect the Company returns from its cash balances. A floating rate of interest, which is linked to bank base rates, is earned on cash deposits. The exposure to cash flow interest rate risk at 31 December 2024 for the Company was £23,457 (2023: £53,876).

A sensitivity analysis based on a movement of 1% on interest rates would have a £234 effect on the Company's' profit (2023:

£549).

As the Company does not have any borrowings and finances its operations through its share capital and retained revenues, it does not have any interest rate risk except in relation to cash balances.

Foreign currency risk

The Company's total return and net assets can be affected by currency translation movements as part of the investments held by the Company are denominated in currencies other than £ Sterling. The Directors mitigate the individual currency risks through the international spread of investments. Hedging transactions may be used but none have been employed during the period under review (2023: none).

The fair values of the Company's investments that have foreign currency exposure at 31 December 2024 are shown below.

2024                2023

CAD                    CAD

£                         £

-                  9,289

Investments in financial assets at fair value through profit or loss                                   -