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)	[phone]
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- 

 

END

 

 

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