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 
     ---------------------------------  ------------------------------------------ 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHDDBDDBXBDGGR

(END) Dow Jones Newswires

December 18, 2020 02:00 ET (07:00 GMT)

Grafico Azioni Tower Resources (LSE:TRP)
Storico
Da Nov 2021 a Dic 2021 Clicca qui per i Grafici di Tower Resources
Grafico Azioni Tower Resources (LSE:TRP)
Storico
Da Dic 2020 a Dic 2021 Clicca qui per i Grafici di Tower Resources