Issue of Warrants

RNS Number : 8623I
Tower Resources PLC
31 July 2012
 



31 July 2012                                                Tower Resources plc                                                           

Issue of Warrants

                       

Tower Resources plc ("Tower" or the "Company"), LN: TRP, the AIM listed oil and gas exploration company, announces that further to the news release made by the Company on 30 July 2012 the Company has issued in aggregate 10,014,581 warrants to Directors in sacrifice of an aggregate of £206,000 of fees and salaries.  

 

The warrants expire on 28 July 2017 and have an exercise price of 3.225p per share being the middle market price of the Company's shares at the close of business today.

 

The warrants issued and the respective fees/salary foregone are detailed below:

 

 

Name

Warrants

£

Jeremy Asher

5,153,135

106,000

Graeme Thomson

1,458,434

30,000

Peter Blakey

1,458,434

30,000

Peter Taylor

1,458,434

30,000

Philip Swatman

486,144

10,000

                       

 

The total number of outstanding warrants and options is now 58,819,199, representing 3.6 per cent of the issued share capital of the Company.

 

Contacts:

 

Tower Resources


Graeme Thomson (CEO)        

   +44 7930 405 921



Northland Capital Partners Limited

(Nominated Adviser and Joint Broker)

020 7796 8800

Gavin Burnell/Edward Hutton

John Howes/Alice Lane (Broking)


 

Investec (Joint Broker)

 

020 759 74000

Ben Colegrave                        

Chris Sim




M Communications

020 7920 2358

Patrick d'Ancona                    

Chris McMahon

Andrew Benbow


 

www.towerresources.co.uk 

 

Directors Interests

 

The following table sets out the Directors shareholdings and percentage interests in the issued share capital of the Company together with interests in warrants and options:

 


Shareholding

% of issued

share capital

Number of Options

Number of Warrants

Jeremy Asher

184,250,000

11.3


6,913,273

Graeme Thomson

5,000,000

0.3

20,000,000

1,458,434

Peter Taylor

99,019,105

6.1


4,656,698

Peter Blakey

99,519,105

5.9


4,656,698

Philip Swatman

2,500,000

0.2

1,500,000

486,144

 

 

 

-ends- 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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