PDMR Share and Option Transfer

11 November 2016

 

Tower Resources plc

PDMR Share and Option Transfer

 

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM listed Africa focussed oil and gas exploration company, announces the following PDMR share and option transfer.

On 10 November 2016, the Company was notified by P.D.F Limited ("P.D.F"), the Company's Outsourced Exploration Department (OExD®), and a company owned by Dr Mark Enfield, that it had transferred 1,808,144 Ordinary shares for nil consideration to Geoscience Equity Limited, a company also owned by Dr Mark Enfield.

On the same date, 112,000 shares options with an exercise price ranging from 47.5p to 175.0p per share were also transferred for nil consideration from the P.D.F Limited 2008 Employee Benefit Trust to Geoscience Equity Limited. 

Dr Mark Enfield's beneficial interest in the Company remains unchanged and he is the beneficial owner of a total of 1,877,546 Ordinary shares representing an interest of 1.8 per cent of the issued share capital and 112,000 share options with an exercise price ranging from 47.5p to 175.0p per share. 

 

Contacts

Tower Resources plc

Jeremy Asher (Chairman and CEO)
Andrew Matharu (VP - Corporate Affairs)
+44 20 7253 6639

 

Peel Hunt LLP (Nominated Adviser and Broker)

Richard Crichton/Ross Allister
+44 20 7418 8900

 

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

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	Mark Enfield
2.	Reason for the notification
a.	Position/status	PDMR
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	-
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 instrument, type of instrument Identification code	Ordinary shares of £0.01 each
b.	Nature of the transaction	Transfer of Ordinary shares
c.	Price(s) and volume(s)	Price(s)   Volume(s) Nil consideration 1,808,144
d.	Aggregated information ·     Aggregated volume ·     Price	N/A - single transaction
e.	Date of the transaction	10 November 2016
f.	Place of the transaction	Outside of a trading venue

 

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Mark Enfield
2.	Reason for the notification
a.	Position/status	PDMR
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	-
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 instrument, type of instrument Identification code	Options to subscribe for new ordinary shares of £0.01 each
b.	Nature of the transaction	Transfer of Options
c.	Price(s) and volume(s)	Price(s)   Volume(s) Nil consideration Nil consideration 96,000 16,000
d.	Aggregated information ·     Aggregated volume ·     Price	112,000 47.5p to 175.0p
e.	Date of the transaction	10 November 2016
f.	Place of the transaction	Outside of a trading venue