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:
| 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)
Gavin Burnell / Edward Hutton
John Howes / Alice Lane (Broking)
020 7796 8800
Investec (Joint Broker)
Ben Colegrave, Chris Sim
0207 597 4000
M Communications
Patrick d’Ancona, Chris McMahon, Andrew Benbow
020 7920 2358
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 | 96,519,105 | 5.9 | 4,656,698 | |
| Philip Swatman | 2,500,000 | 0.2 | 1,500,000 | 486,144 |
-ends-
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