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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 | 71,347,973 | 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 : 0890W
Tower Resources PLC
16 August 2022
16 August 2022
Tower Resources plc
Grant of Options under Annual Long Term Incentive Plan
Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM listed oil and gas company with its focus on Africa, announces that it has made an annual award of share options under its Long Term Incentive plan.
The share options (the "Options") over a total of 148 million new ordinary shares ("Shares") in the capital of the Company were awarded on 15 August 2022 at an exercise price of 0.30 pence per ordinary share, being a premium of 48% over the closing price of the Shares on that day. The Options will vest in three equal tranches being 12, 24 and 36 months respectively after issue and will expire, if not previously exercised, on the fifth anniversary of their issue, and will be governed by the terms of the Company's existing share option scheme (the "Scheme"). The award of options under the Long Term Incentive plan is an annual event, which normally takes place in the first quarter of each year, but was delayed in 2022 due to a closed period and other factors.
Details of the grant to directors, PDMRs and consultants are set out below:
Director/PDMR Existing number Number of new Total number of options options granted of options held following issue Jeremy Asher(++) 180,000,000 100,000,000 280,000,000 ---------------- ----------------- ----------------- Honore Dairou 45,000,000 34,000,000 79,000,000 ---------------- ----------------- ----------------- Consultants 16,500,000 11,000,000 27,500,000 ---------------- ----------------- ----------------- Others 2,500,000 3,000,000 5,500,000 ---------------- ----------------- ----------------- TOTAL 244,000,000 148,000,000 392,000,000 ---------------- ----------------- -----------------
++ Held by Pegasus Petroleum Ltd, which is owned and controlled by Jeremy Asher
Options in issue
Following the above issue of Options, the total number of Options in issue is 392,000,000 equating to 8.30 % of the Company's enlarged share capital assuming full exercise of all warrants and share options.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
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 and Joint Broker Stuart Gledhill + 44 20 3470 Caroline Rowe 0470 Novum Securities Ltd Joint Broker Jon Bellis + 44 20 7399 Colin Rowbury 9400 Panmure Gordon (UK) Limited Joint Broker John Prior + 44 20 7886 Hugh Rich 2500 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 CEO --------------------------------- ------------------------------------------ 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: Grant of Share Options --------------------------------- ------------------------------------------ c) Price(s) and volume(s): Price(s) Volume(s) 0.30 pence 100,000,000 ------------ --------------------------------- ------------------------------------------ d) Aggregated information: Single transaction Aggregated volume: as in 4 c) above Price(s) Volume(s) Price: 0.30 pence 100,000,000 --------------------------------- ------------------------------------------ e) Date of the transaction: 15 August 2022 18:00 BST --------------------------------- ------------------------------------------ f) Place of the transaction: Outside a trading venue --------------------------------- ------------------------------------------ 1. Details of the person discharging managerial responsibilities/person closely associated a) Name: Honore Dairou --------------------------------- ------------------------------------------ 2. Reason for the notification ----------------------------------------------------------------------------- a) Position/status: Director Tower Resources Cameroon S.A --------------------------------- ------------------------------------------ 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: Grant of Share Options --------------------------------- ------------------------------------------ c) Price(s) and volume(s): Price(s) Volume(s) 0.30 pence 34,000,000 ----------- --------------------------------- ------------------------------------------ d) Aggregated information: Single transaction Aggregated volume: as in 4 c) above Price(s) Volume(s) Price: 0.30 pence 34,000,000 --------------------------------- ------------------------------------------ e) Date of the transaction: 15 August 2022 18:00 BST --------------------------------- ------------------------------------------ f) Place of the transaction: Outside a trading venue --------------------------------- ------------------------------------------
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August 16, 2022 02:00 ET (06:00 GMT)
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