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17 Dec 2009 10:22
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TOWER RESOURCES PLC
17Β DECEMBERΒ 2009
Tower Resources plc ("Tower")Β orΒ ("the Company")
The Company announces that on theΒ 15thΒ DecemberΒ 2009 it issued a total ofΒ 2,235,318Β warrantsΒ to Peter Kingston, Peter Blakey, Peter Taylor, Mark SavageΒ andΒ Jeremy Asher as detailed below:-
|
Name |
Warrants |
Exercise Price |
Date from which the warrants are exercisable |
Expiry of warrants |
|
Peter Kingston |
784,318 |
2.55p |
15 DecemberΒ 2010 |
15 DecemberΒ 2012 |
|
Peter Blakey |
490,200 |
2.55p |
15 DecemberΒ 2010 |
15 DecemberΒ 2012 |
|
Peter TaylorΒ |
490,200 |
2.55p |
15 DecemberΒ 2010 |
15 DecemberΒ 2012 |
|
Mark Savage |
235,300 |
2.55p |
15 DecemberΒ 2010 |
15 DecemberΒ 2012 |
|
Jeremy Asher |
235,300 |
2.55p |
15 DecemberΒ 2010 |
15 DecemberΒ 2012 |
These warrants were issued in lieu of fees waivedΒ by directors, to reduce overhead cost to workingΒ capital. The Directors haveΒ forgone feesΒ since November 2008 andΒ this latest grant of warrants isΒ for fees relating to the period from November 2009Β until endΒ April 2010. TheΒ feesΒ foregone are summarised belowΒ (Β£):-
|
Name |
Nov 08 -Β OctΒ 09 |
Nov 09Β -Β AprilΒ 10 |
Total |
|
Peter Kingston |
45,000 |
20,000 |
65,000 |
|
Peter Blakey |
25,000 |
12,500 |
37,500 |
|
Peter Taylor |
25,000 |
12,500 |
37,500 |
|
Mark Savage |
12,000 |
6,000 |
18,000 |
|
Jeremy Asher |
12,000 |
6,000 |
18,000 |
For further information please contact:
Tower Resources plc www.towerresources.co.uk
Peter Kingston, Chairman 07802 804852
AstaireΒ Securities (NOMAD and Broker)
Lindsay Mair /Β Jerry Keen 020 7448 4400
Aquila Financial Limited (PF) www.aquila-financial.com
Peter Reilly 0118 979 4100
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