Last checked at 2 Mar 2012 13:50
2 March 2012
Tower Resources PLC (the "Company")
Option exercise
On 2 March 2012, Peter Kingston, a director of the Company, exercised options over 5 million ordinary shares at an aggregate exercise price of 2.17p per share, of which 3.6 million ordinary shares were sold on the same day at a price of 2.65p per share. As a result of this transaction, Peter Kingston has an interest in 4,374,545 ordinary shares, representing 0.31% of the Company's enlarged issued share capital.
Application will be made for the 5 million ordinary shares issued on exercise of the options to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur on or around 8 March 2012. The new ordinary shares will, when admitted, rank pari passu in all respects with the existing ordinary shares.
Following Admission, the Company's total issued and voting share capital will comprise 1,426,985,562 ordinary shares of 0.1p each. As the Company does not hold any ordinary shares in treasury, the total number of voting rights in the Company is 1,426,985,562. 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 to their interest in, the share capital of the Company.
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