Tower Resources PLC Grant of Options under Annual LTIP (0890W)
16 Agosto 2022 - 08:00AM
UK Regulatory (RNS & others)
TIDMTRP
RNS Number : 0890W
Tower Resources PLC
16 August 2022
16 August 2022
Tower Resources plc
Grant of Options under Annual Long Term Incentive Plan
Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)),
the AIM listed oil and gas company with its focus on Africa,
announces that it has made an annual award of share options under
its Long Term Incentive plan.
The share options (the "Options") over a total of 148 million
new ordinary shares ("Shares") in the capital of the Company were
awarded on 15 August 2022 at an exercise price of 0.30 pence per
ordinary share, being a premium of 48% over the closing price of
the Shares on that day. The Options will vest in three equal
tranches being 12, 24 and 36 months respectively after issue and
will expire, if not previously exercised, on the fifth anniversary
of their issue, and will be governed by the terms of the Company's
existing share option scheme (the "Scheme"). The award of options
under the Long Term Incentive plan is an annual event, which
normally takes place in the first quarter of each year, but was
delayed in 2022 due to a closed period and other factors.
Details of the grant to directors, PDMRs and consultants are set
out below:
Director/PDMR Existing number Number of new Total number
of options options granted of options held
following issue
Jeremy Asher(++) 180,000,000 100,000,000 280,000,000
---------------- ----------------- -----------------
Honore Dairou 45,000,000 34,000,000 79,000,000
---------------- ----------------- -----------------
Consultants 16,500,000 11,000,000 27,500,000
---------------- ----------------- -----------------
Others 2,500,000 3,000,000 5,500,000
---------------- ----------------- -----------------
TOTAL 244,000,000 148,000,000 392,000,000
---------------- ----------------- -----------------
++ Held by Pegasus Petroleum Ltd, which is owned and controlled
by Jeremy Asher
Options in issue
Following the above issue of Options, the total number of
Options in issue is 392,000,000 equating to 8.30 % of the Company's
enlarged share capital assuming full exercise of all warrants and
share options.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
now considered to be in the public domain.
Contacts
Tower Resources plc +44 20 7157 9625
Jeremy Asher
Chairman and CEO
Andrew Matharu
VP - Corporate Affairs
SP Angel Corporate Finance
LLP
Nominated Adviser and Joint
Broker
Stuart Gledhill + 44 20 3470
Caroline Rowe 0470
Novum Securities Ltd
Joint Broker
Jon Bellis + 44 20 7399
Colin Rowbury 9400
Panmure Gordon (UK) Limited
Joint Broker
John Prior + 44 20 7886
Hugh Rich 2500
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Jeremy Asher
--------------------------------- ------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a) Position/status: Chairman and CEO
--------------------------------- ------------------------------------------
b) Initial notification/Amendment: Initial notification
--------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name: Tower Resources PLC
--------------------------------- ------------------------------------------
b) LEI: 2138002J9VH6PN7P2B09
--------------------------------- ------------------------------------------
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
-----------------------------------------------------------------------------
a) Description of the financial Ordinary Shares of
instrument, type of instrument: 0.001 pence each
Identification code: GB00BZ6D6J81
--------------------------------- ------------------------------------------
b) Nature of the transaction: Grant of Share Options
--------------------------------- ------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
0.30 pence 100,000,000
------------
--------------------------------- ------------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 0.30 pence 100,000,000
--------------------------------- ------------------------------------------
e) Date of the transaction: 15 August 2022
18:00 BST
--------------------------------- ------------------------------------------
f) Place of the transaction: Outside a trading
venue
--------------------------------- ------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Honore Dairou
--------------------------------- ------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a) Position/status: Director Tower Resources
Cameroon S.A
--------------------------------- ------------------------------------------
b) Initial notification/Amendment: Initial notification
--------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name: Tower Resources PLC
--------------------------------- ------------------------------------------
b) LEI: 2138002J9VH6PN7P2B09
--------------------------------- ------------------------------------------
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
-----------------------------------------------------------------------------
a) Description of the financial Ordinary Shares of
instrument, type of instrument: 0.001 pence each
Identification code: GB00BZ6D6J81
--------------------------------- ------------------------------------------
b) Nature of the transaction: Grant of Share Options
--------------------------------- ------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
0.30 pence 34,000,000
-----------
--------------------------------- ------------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 0.30 pence 34,000,000
--------------------------------- ------------------------------------------
e) Date of the transaction: 15 August 2022
18:00 BST
--------------------------------- ------------------------------------------
f) Place of the transaction: Outside a trading
venue
--------------------------------- ------------------------------------------
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END
DSHFLFIDTVIELIF
(END) Dow Jones Newswires
August 16, 2022 02:00 ET (06:00 GMT)
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