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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tower Resources Plc | LSE:TRP | London | Ordinary Share | GB00BZ6D6J81 | ORD GBP0.00001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0195 | 0.019 | 0.02 | 0.0195 | 0.0195 | 0.0195 | 82,329,851 | 07:43:19 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -1.01M | -0.0001 | -2.00 | 1.69M |
TIDMTRP
RNS Number : 1323I
Tower Resources PLC
31 March 2020
31 March 2020
Tower Resources plc
Issue of Warrants to Directors and Total Voting Rights
Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM listed oil and gas company with its focus on Africa, announces the following issue of warrants to Directors in lieu of fees.
Warrants are being issued in lieu of GBP68,000 (in aggregate) of Directors fees to Peter Taylor and David M Thomson (non-executive directors), and Jeremy Asher (as Chairman) in settlement of fees due for the period from 1 January 2020 to 30 June 2020, to conserve the Company's working capital.
The warrants are exercisable at a price of 0.2 pence ("Warrants"), which is the closing share price on 30 March 2020 and are exercisable for a period of 5 years from the date of issue. The Warrants being issued are detailed below:
Director Number of Total number Shareholding % of issued Warrants being of Warrants upon exercise share capital issued held* of total number upon exercise of Warrants of Warrants held Jeremy Asher 21,978,022 188,354,191 489,630,301 28.2% ---------------- ------------- ----------------- --------------- Peter Taylor 14,652,015 36,928,643 55,380,369 3.2% ---------------- ------------- ----------------- --------------- David M Thomas 13,186,813 13,186,813 13,186,813 0.8% ---------------- ------------- ----------------- ---------------
*Warrants are held at different prices.
As previously announced, the Directors will consider issuing further warrants in lieu of fees for each calendar quarter based on the closing price of the stock and the warrant valuation on the last day of the previous quarter and will make an election and announce the issue of warrants (if so elected) at the earliest opportunity in each calendar quarter. This election will be made by the Board with each Director taking into consideration the working capital position of the Company.
Warrants and Options in issue
Following the above issue of Warrants, the total number of warrants in issue is 494,101,339 equating to 27.3% of the Company's enlarged share capital assuming full exercise of all warrants and also stock options.
Total Voting Rights
In accordance with the FCA's Disclosure and Transparency Rules ("DTRs"), the total issued share capital of the Company consists of 1,243,271,874 ordinary shares of 0.001 pence each ("Ordinary Shares") with voting rights.
The total number of voting rights in the Company is 1,243,271,874 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in the interest in, the share capital of the Company under the DTRs.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Contacts
Tower Resources plc +44 20 7157 9625 Jeremy Asher Chairman and CEO Andrew Matharu VP - Corporate Affairs SP Angel Corporate Finance LLP Nominated Adviser + 44 20 3470 0470 Stuart Gledhill Caroline Rowe Turner Pope Investments (TPI) Limited Joint Broker Andy Thacker Zoe Alexander + 44 20 3657 0050 Whitman Howard Limited Joint Broker Nick Lovering + 44 20 7659 1234
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
1. Details of the person discharging managerial responsibilities/person closely associated a) Name: Peter Taylor --------------------------------- ------------------------------------------ 2. Reason for the notification ----------------------------------------------------------------------------- a) Position/status: Non-Executive Director --------------------------------- ------------------------------------------ b) Initial notification/Amendment: Initial notification --------------------------------- ------------------------------------------ 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ----------------------------------------------------------------------------- a) Name: Tower Resources PLC --------------------------------- ------------------------------------------ b) LEI: 2138002J9VH6PN7P2B09 --------------------------------- ------------------------------------------ 4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ----------------------------------------------------------------------------- a) Description of the financial Ordinary Shares of instrument, type of instrument: 0.001 pence each Identification code: GB00BZ6D6J81 --------------------------------- ------------------------------------------ b) Nature of the transaction: Warrants in lieu of Directors fees --------------------------------- ------------------------------------------ c) Price(s) and volume(s): Price(s) Volume(s) 0.20 pence 14,652,015 ----------- --------------------------------- ------------------------------------------ d) Aggregated information: Single transaction Aggregated volume: as in 4 c) above Price(s) Volume(s) Price: 0.20 pence 14,652,015 --------------------------------- ------------------------------------------ e) Date of the transaction: 31 March 2020 07:00 BST --------------------------------- ------------------------------------------ f) Place of the transaction: Outside a trading venue --------------------------------- ------------------------------------------ 1. Details of the person discharging managerial responsibilities/person closely associated a) Name: David M Thomas --------------------------------- ------------------------------------------ 2. Reason for the notification ----------------------------------------------------------------------------- a) Position/status: Non-Executive Director --------------------------------- ------------------------------------------ b) Initial notification/Amendment: Initial notification --------------------------------- ------------------------------------------ 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ----------------------------------------------------------------------------- a) Name: Tower Resources PLC --------------------------------- ------------------------------------------ b) LEI: 2138002J9VH6PN7P2B09 --------------------------------- ------------------------------------------ 4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ----------------------------------------------------------------------------- a) Description of the financial Ordinary Shares of instrument, type of instrument: 0.001 pence each Identification code: GB00BZ6D6J81 --------------------------------- ------------------------------------------ b) Nature of the transaction: Warrants in lieu of Directors fees --------------------------------- ------------------------------------------ c) Price(s) and volume(s): Price(s) Volume(s) 0.20 pence 13,186,813 ----------- --------------------------------- ------------------------------------------ d) Aggregated information: Single transaction Aggregated volume: as in 4 c) above Price(s) Volume(s) Price: 0.20 pence 13,186,813 --------------------------------- ------------------------------------------ e) Date of the transaction: 31 March 2020 07:00 BST --------------------------------- ------------------------------------------ f) Place of the transaction: Outside a trading venue --------------------------------- ------------------------------------------ 1. Details of the person discharging managerial responsibilities/person closely associated a) Name: Jeremy Asher --------------------------------- ------------------------------------------ 2. Reason for the notification
----------------------------------------------------------------------------- a) Position/status: Chairman and Chief Executive Officer --------------------------------- ------------------------------------------ b) Initial notification/Amendment: Initial notification --------------------------------- ------------------------------------------ 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ----------------------------------------------------------------------------- a) Name: Tower Resources PLC --------------------------------- ------------------------------------------ b) LEI: 2138002J9VH6PN7P2B09 --------------------------------- ------------------------------------------ 4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted ----------------------------------------------------------------------------- a) Description of the financial Ordinary Shares of instrument, type of instrument: 0.001 pence each Identification code: GB00BZ6D6J81 --------------------------------- ------------------------------------------ b) Nature of the transaction: Warrants in lieu of Directors fees --------------------------------- ------------------------------------------ c) Price(s) and volume(s): Price(s) Volume(s) 0.20 pence 21,978,022 ----------- --------------------------------- ------------------------------------------ d) Aggregated information: Single Transaction Aggregated volume: as in 4 c) above Price(s) Volume(s) Price: 0.20 pence 21,978,022 --------------------------------- ------------------------------------------ e) Date of the transaction: 31 March 2020 07:00 BST --------------------------------- ------------------------------------------ f) Place of the transaction: Outside a trading venue --------------------------------- ------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
March 31, 2020 02:00 ET (06:00 GMT)
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