PDMR Share and Option Transfer

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Tower Resources plc (the “Company” or “Tower” (TRP.L, TRP LN)), the AIM listed Africa focussed oil and gas exploration company, announces the following PDMR share and option transfer.

On 10 November 2016, the Company was notified by P.D.F Limited (“P.D.F”), the Company’s Outsourced Exploration Department (OExD®), and a company owned by Dr Mark Enfield, that it had transferred 1,808,144 Ordinary shares for nil consideration to Geoscience Equity Limited, a company also owned by Dr Mark Enfield.

On the same date, 112,000 shares options with an exercise price ranging from 47.5p to 175.0p per share were also transferred for nil consideration from the P.D.F Limited 2008 Employee Benefit Trust to Geoscience Equity Limited.

Dr Mark Enfield’s beneficial interest in the Company remains unchanged and he is the beneficial owner of a total of 1,877,546 Ordinary shares representing an interest of 1.8 per cent of the issued share capital and 112,000 share options with an exercise price ranging from 47.5p to 175.0p per share.

Contacts
Tower Resources plc

Jeremy Asher (Chairman and CEO)
Andrew Matharu (VP – Corporate Affairs)
+44 20 7253 6639

Peel Hunt LLP (Nominated Adviser and Broker)

Richard Crichton/Ross Allister
+44 20 7418 8900

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

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
aNameMark Enfield
2.Reason for the notification
aPosition/statusPDMR
bInitial notification/ AmendmentInitial Notification
3.Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
aNameTower Resources PLC
bLEI
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
aDescription of the Financial instrument, type of instrument, Identification codeOrdinary shares of £0.01 each
bNature of the transactionTransfer of Ordinary shares
cPrice(s) and volume(s)
Price(s)Volume(s)
Nil consideration1,808,144
dAggregated information

  • Aggregated volume
  • Price
 

N/A – single transaction

eDate of the transaction10 November 2016
fPlace of the transactionOutside of a trading venue

 

1.Details of the person discharging managerial responsibilities / person closely associated
aNameMark Enfield
2.Reason for the notification
aPosition/statusPDMR
bInitial notification/ AmendmentInitial Notification
3.Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
aNameTower Resources PLC
bLEI
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
aDescription of the Financial instrument, type of instrument, Identification codeOptions to subscribe for new ordinary shares of £0.01 each
bNature of the transactionTransfer of Options
cPrice(s) and volume(s)
Price(s)Volume(s)
Nil consideration

Nil consideration

96,000

16,000

dAggregated information

  • Aggregated volume
  • Price
 

112,000
47.5p to 175.0p

eDate of the transaction10 November 2016
fPlace of the transactionOutside of a trading venue
2016-11-18T14:25:14+00:00 11 November 2016|