Issue of Equity

RNS Number : 7357W

Tower Resources PLC

16 November 2017

 

16 November 2017

Tower Resources plc

Issue of Equity

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 issuance of new ordinary shares of 1.0 pence each in the capital of the Company (the "New Shares").

Two of the Company's service providers have elected to receive 4,352,919 New Shares in lieu of £43,529.19 of fees accrued during the period leading up to the Company's recent Placing, announced on 9 November 2017. The New Shares are being issued at the same price of 1.0p per New Share as per that Placing.

Details of the New Shares

Application will be made for the New Shares, which will rank pari passu with the existing shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence in the New Shares on or around 22 November 2017.

Total Voting Rights

Following the issue of the New Shares, the issued share capital of the Company will consist of 374,270,520 shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 374,270,520.

The above total current voting rights number is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.

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	[e-mail]
Jeremy Asher Chairman and CEO
Andrew Matharu VP - Corporate Affairs
SP Angel Corporate Finance LLP Nominated Adviser and Broker	[phone]
Stuart Gledhill
Caroline Rowe

 

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