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Holding(s) in Company

RNS Announcement

RNS Number : 9729E

Tower Resources PLC

16 April 2014

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ


1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ⁱⁱ		Tower Resources plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights			✔
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation: ⁱⁱⁱ	Rift Petroleum Group Holdings Limited
4. Full name of shareholder(s) (if different from 3.):^iv	Same as above.
5. Date of the transaction and date on which the threshold is crossed or reached: ^v	15-Apr-2014
6. Date on which issuer notified:	16-Apr-2014
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}	14% - 11%

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights ^x

Direct

Direct ^xi

Indirect ^xii

Direct

Indirect

Common Stock

ISIN GB00B05KQ069

275,000,000

550,000,000

134,298,925

409,298,925

3.6%

10.9%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

409,298,925

10.9%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: ^xxi


Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:	As permitted by the share purchase agreement between Rift Petroleum Group Holdings Limited ("RPG") and Tower Resources plc ("Tower"), RPG has transferred 140,701,075 ordinary shares to certain institutional and private co- funders since admission of the 550,000,000 consideration shares on 14 April 2014 and is now interested in 409,298,925 ordinary shares being 10.9% of the issued share capital of Tower. As previously announced, 275,000,000 of the consideration shares are held subject to a hard lock-in for a period of twelve months from their issue and the other consideration shares remaining after those transferred as notified are subject to orderly market provisions.
14. Contact name:	Venkat Siva
15. Contact telephone number:	020 7016 5130

This information is provided by RNS

The company news service from the London Stock Exchange

END

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RNS metadata

Title: Holding(s) in Company
Time: 12:42:22
Date: 16 Apr 2014
Category: Holding(s) in company
ID: 9729E