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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.001 | -5.13% | 0.0185 | 0.018 | 0.019 | 0.0195 | 0.0185 | 0.0195 | 504,591,939 | 11:32:54 |
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 : 6145R
Tower Resources PLC
01 July 2020
1 July 2020
Tower Resources plc
Issue of Warrants to Directors
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 GBP34,000 (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 July 2020 to 30 September 2020, to conserve the Company's working capital.
The warrants are exercisable at a strike price of 0.35 pence ("Warrants"), which is a premium of 11.1% to the closing share price on 30 June 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 including of total number upon exercise this issue* of Warrants of Warrants held Jeremy Asher 6,714,414 199,568,605 500,844,715 28.8% ---------------- ---------------- ----------------- --------------- Peter Taylor 4,476,276 41,404,919 59,856,645 3.4% ---------------- ---------------- ----------------- --------------- David M Thomas 4,028,648 17,215,461 17,215,461 1.0% ---------------- ---------------- ----------------- ---------------
*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 513,820,677 equating to 28.1% of the Company's enlarged share capital assuming full exercise of all warrants and also stock options.
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 and Joint Broker + 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) 0.35 pence 4,476,276 ---------- --------------------------------- ------------------------------------------ d) Aggregated information: Single transaction Aggregated volume: as in 4 c) above Price(s) Volume(s) Price: 0.35 pence 4,476,276 --------------------------------- ------------------------------------------ e) Date of the transaction: 1 July 2020 07:01 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) 0.35 pence 4,028,648 ---------- --------------------------------- ------------------------------------------ d) Aggregated information: Single transaction Aggregated volume: as in 4 c) above Price(s) Volume(s) Price: 0.35 pence 4,028,648 --------------------------------- ------------------------------------------ e) Date of the transaction: 1 July 2020 07:01 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) 0.35 pence 6,714,414 ---------- --------------------------------- ------------------------------------------ d) Aggregated information: Single Transaction Aggregated volume: as in 4 c) above Price(s) Volume(s) Price: 0.35 pence 6,714,414 --------------------------------- ------------------------------------------ e) Date of the transaction: 1 July 2020 07:01 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
July 01, 2020 02:01 ET (06:01 GMT)
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