Tower Resources PLC Issue of shares in lieu of fees to EPI Group (9749M)
27 Gennaio 2021 - 8:00AM
UK Regulatory
TIDMTRP
RNS Number : 9749M
Tower Resources PLC
27 January 2021
27 January 2021
Tower Resources plc
("Tower" or the "Company")
Issue of shares in lieu of fees to EPI Group
Tower Resources plc (TRP.L, TRP LN), the AIM listed oil and gas
company with its focus on Africa , announces that it has issued
20,000,000 Ordinary shares in the Company (the "Fee Shares") to EPI
Group, in lieu of fees to the value of GBP65,000.
The Company has issued shares in lieu of fees to EPI Group on
previous occasions, which provides geological and geophysical
services to the Company under a strategic relationship that has
been in place since 2015.
The issue of shares to EPI Group constitutes a related party
transaction in accordance with AIM Rule 13, since Dr Mark Enfield
is a director of both EPI Group and the Company. Accordingly,
Jeremy Asher and Paula Brancato, acting as the independent
Directors, consider, having consulted with the Company's Nominated
Adviser, SP Angel Corporate Finance LLP, that the terms of the
issue of shares to EPI Group are fair and reasonable insofar as the
Company's shareholders are concerned.
Application has been made for the Fee Shares to be admitted to
trading on AIM. It is expected that admission of the Fee Shares
will become effective at 8.00 a.m. on or around 1 February
2021.
Following admission of the Fee Shares, the Company's enlarged
issued share capital will comprise 1,729,911,416 Ordinary shares of
0.001 pence each with voting rights in the Company. This figure may
be used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in the interest in, the share
capital of the Company under the FCA's Disclosure and Transparency
Rules.
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
Stuart Gledhill
Caroline Rowe +44 20 3470 0470
ETX Capital
Joint Broker
Elliott Hance +44 20 7392 1436
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
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
IOESEDFWMEFSELF
(END) Dow Jones Newswires
January 27, 2021 02:00 ET (07:00 GMT)
Grafico Azioni Tower Resources (LSE:TRP)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Tower Resources (LSE:TRP)
Storico
Da Apr 2023 a Apr 2024