Tower Resources PLC Grant of Options (0912J)
18 Dicembre 2020 - 08:00AM
UK Regulatory
TIDMTRP
RNS Number : 0912J
Tower Resources PLC
18 December 2020
18 December 2020
Tower Resources plc
("Tower" or the "Company")
Grant of Options under Annual Long Term Incentive Plan
Tower Resources plc (TRP.L, TRP LN), the AIM listed oil and gas
company with its focus on Africa , announces that options (the
"Options") over a total of 86 million new ordinary shares
("Shares") in the capital of the Company were awarded on 17
December 2020 at an exercise price of 0.45 pence per ordinary
share, being a premium of 20% 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 Options represent, in aggregate, approximately 4.1% of the
fully diluted Shares outstanding, and will bring the total number
of share options outstanding under the Company's share option
scheme to 157,600,800, comprising approximately 7.5% of the fully
diluted Shares outstanding.
This 2020 award of Options has been made later than usual in the
calendar year, as a result of restrictions on director dealings
earlier in the year, and subsequently the Board's preference to
bring its new members onto the Remuneration Committee and get them
fully up to date before making the annual award.
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(++) 60,000,000 60,000,000 120,000,000
---------------- ----------------- -----------------
Honore Dairou 5,004,000 20,000,000 25,004,000
---------------- ----------------- -----------------
Consultants 5,000,000 5,000,000 11,000,000
---------------- ----------------- -----------------
Others 1,596,800 1,000,000 2,596,800
---------------- ----------------- -----------------
TOTAL 71,600,800 86,000,000 157,600,800
---------------- ----------------- -----------------
++ Held by Pegasus Petroleum Ltd, which is owned and controlled
by Jeremy Asher
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 +44 20 7157 9625
Jeremy Asher
Chairman and CEO
Andrew Matharu
VP - Corporate Affairs
SP Angel Corporate Finance
LLP
Nominated Adviser and Joint
Broker +44 20 3470 0470
Stuart Gledhill
Caroline Rowe
Turner Pope Investments
(TPI) Limited
Joint Broker
Andy Thacker
Zoe Alexander +44 20 3657 0050
Panmure Gordon (UK) Limited
Joint Broker
Nick Lovering
Hugh Rich +44 20 7886 2500
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
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: Share Options
--------------------------------- ------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
0.45 pence 60,000,000
-----------
--------------------------------- ------------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 0.45 pence 60,000,000
--------------------------------- ------------------------------------------
e) Date of the transaction: 18 December 2020
07:00 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: Share Options
--------------------------------- ------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
0.45 pence 20,000,000
-----------
--------------------------------- ------------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 0.45 pence 20,000,000
--------------------------------- ------------------------------------------
e) Date of the transaction: 18 December 2020
07:00 BST
--------------------------------- ------------------------------------------
f) Place of the transaction: Outside a trading
venue
--------------------------------- ------------------------------------------
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END
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