Tower Resources PLC Grant of Options (9771A)
December 31 2014 - 2:00AM
UK Regulatory
TIDMTRP
RNS Number : 9771A
Tower Resources PLC
31 December 2014
Tower Resources plc
Grant of Options
31 December 2014
Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)),
the AIM listed Africa focussed oil and gas exploration company,
announces the following grant of options to an executive director
and certain members of the management team and retained
consultants.
The Remuneration Committee of the Board has decided to grant
options over an aggregate of 78,700,000 ordinary shares at an
exercise price of 0.70p pence per share, being the closing price of
the ordinary shares on 24 December 2014, to an executive director
and certain staff and retained consultants as detailed below. 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.
Director/PDMR Number of new options granted
--------------------------------------- ------------------------------
Graeme Thomson, CEO 35,000,000
--------------------------------------- ------------------------------
Nigel Quinton, Head of Exploration 15,000,000
--------------------------------------- ------------------------------
Andrew Matharu, VP Corporate
Affairs 10,000,000
--------------------------------------- ------------------------------
Andrew Smith, Financial Controller(*) 10,700,000
--------------------------------------- ------------------------------
Eric Griffith, Asset Manager 2,500,000
--------------------------------------- ------------------------------
Others 5,500,000
--------------------------------------- ------------------------------
Total 78,700,000
--------------------------------------- ------------------------------
(*) Share options awarded to Andrew Smith on joining Tower
Resources (announced 23 December 2014)
The total number of outstanding options is now 209,200,000
representing 5.2 per cent of the fully diluted issued share capital
of the Company.
Contacts
Tower Resources plc
Graeme Thomson (CEO)
Andrew Matharu (VP - Corporate Affairs)
+44 20 7253 6639
Peel Hunt LLP (Nominated Adviser and Joint Broker)
Richard Crichton/Charles Batten
+44 20 7418 8900
GMP Securities Europe LLP (Joint Broker)
Rob Collins/Emily Morris
+44 20 7647 2800
Vigo Communications
Chris McMahon/ Peter Reilly
+44 20 7016 9572
This information is provided by RNS
The company news service from the London Stock Exchange
END
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