Board Changes

9 Feb 2007 10:22

Tower Resources PLC09 February 2007 Press Release9th February 2007 Tower Resources Plc Board Changes Tower Resources Plc ("Tower" or the "Company"), the AIM listed oil and gasexploration and production company, today announces that Russell Langusch, adirector of the Company, has resigned from the board to pursue other interests.The Board would like to take this opportunity to thank Mr Langusch for hiscontribution to the Company during his period in office. Mr Langusch hasexercised 1,000,000 options in Tower, and therefore now holds 3,500,000 ordinaryshares in the Company, representing 0.66 per cent. of the current issued sharecapital. It is currently not the intention of Mr Langush to sell any of hisshareholding. Following the placing of new ordinary shares to Agile Energy, a privately heldenergy investment company, chaired by Jeremy Asher, which was first announced tothe market on 21 December 2006, Tower announces that Jeremy Asher has joined theboard as a non-executive director. The Company also announce that following his appointment as Executive ChairmanPeter Kingston has been paid a supplementary fee of £10,000, which has beensatisfied by the issue of 320,000 new ordinary shares at 3.125p per ordinaryshare, the closing mid market price as at 8 February 2006. Mr Kingston has alsobeen granted options over a total of 1,000,000 shares at 3.125p per share. Application has been made for both the shares issued pursuant to the exercise ofoptions and the shares issued to Mr Kingston to be admitted to trading on AIMand dealings are expected to commence at 8.00 a.m. on 15 February 2007. Following the admission of these, the total number of voting rights in theCompany will be 529,653,333. Tower does not hold any ordinary shares in Treasury The above figure 529,653,333 may be used by shareholders as the denominator forthe calculations by which they will determine if they are required to notifytheir interest in, or a change to their interest in, Tower under the FSA'sDisclosure and Transparency Rules. For further information, please contact: Tower Resources plc www.towerresources.co.ukPeter Kingston, Executive Director 01985 211780 Corporate Synergy plcJohn Prior 020 7448 4400 Aquila Financial Limited www.aquila-financial.comPeter Reilly 020 7202 2601Ross Bethell 020 7202 2603 In relation to the appointment of Jeremy Asher, the following disclosures arebeing made pursuant to Paragraph G of Schedule 2 of the AIM Rules. Full name and age:Jeremy Benjamin Gerald Asher, 48 years old. Current directorships:Agile Energy LtdProcess Systems Enterprise Limited Directorships in the last 5 years:Skyvision Holdings LtdPA Consulting Group There are no additional disclosures required to be made pursuant to Paragraph Gof Schedule 2 to Part One of the AIM Rules. This information is provided by RNS The company news service from the London Stock Exchange