TOWER RESOURCES PLC — Director's Dealing 2016

Nov 11, 2016

National Storage Mechanism | Additional information

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RNS Number : 9171O

Tower Resources PLC

11 November 2016

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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