TIH invests US$0.5m in Salim Group-linked entity via convertible loan notes

SINGAPORE-LISTED private-equity fund TIH has invested US$0.5 million in convertible loan notes, with a coupon rate of 5 per cent per annum repayable on March 31, 2018, issued by Tengri Resources

Tengri Resources is a mining exploration and development company listed on AIM (Alternative Investment Market) London Stock Exchange.

Together with the US$4 million financing from Robust Resources Limited on April 7, 2015, the funds raised by Tengri will be used for feasibility and scoping studies of gold and copper projects in Central Asia.

Tengri is 87.3 per cent owned by Robust Resources, which holds mining investments with a primary focus on investments in gold, copper and coal projects. Robust's principal shareholder is Salim Group, a diversified conglomerate led by Antoni Salim.

Investment funds managed by Argyle Street Management Limited (ASML) have also subscribed for a similar sum of US$0.5 million of the convertible loan notes under the same terms and conditions as TIH. ASML is deemed the controlling shareholder of the company.