TOWER RESOURCES PLC - Major Shareholding Notification 2014

National Storage Mechanism | Additional information

RNS Number : 9729E

Tower Resources PLC

16 April 2014

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi



1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii		Tower Resources plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights			✔
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation: iii	Rift Petroleum Group Holdings Limited
4. Full name of shareholder(s) (if different from 3.):iv	Same as above.
5. Date of the transaction and date on which the threshold is crossed or reached: v	15-Apr-2014
6. Date on which issuer notified:	16-Apr-2014
7. Threshold(s) that is/are crossed or reached: vi, vii	14% - 11%


8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE		Situation previous to the triggering transaction					Resulting situation after the triggering transaction
Number of Shares		Number of Voting Rights			Number of shares		Number of voting rights			% of voting rights x
Direct		Direct xi		Indirect xii	Direct			Indirect
Common Stock ISIN GB00B05KQ069		275,000,000		550,000,000			134,298,925		134,298,925		409,298,925	3.6%			10.9%


B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument			Expiration date xiii		Exercise/ Conversion Period xiv					Number of voting rights that may be acquired if the instrument is exercised/ converted.				% of voting rights


C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price			Expiration date xvii		Exercise/ Conversion period xviii			Number of voting rights instrument refers to				% of voting rights xix, xx
													Nominal			Delta


Total (A+B+C)
Number of voting rights								Percentage of voting rights
409,298,925								10.9%


9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi


Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:	As permitted by the share purchase agreement between Rift Petroleum Group Holdings Limited ("RPG") and Tower Resources plc ("Tower"), RPG has transferred 140,701,075 ordinary shares to certain institutional and private co- funders since admission of the 550,000,000 consideration shares on 14 April 2014 and is now interested in 409,298,925 ordinary shares being 10.9% of the issued share capital of Tower. As previously announced, 275,000,000 of the consideration shares are held subject to a hard lock-in for a period of twelve months from their issue and the other consideration shares remaining after those transferred as notified are subject to orderly market provisions.
14. Contact name:	Venkat Siva
15. Contact telephone number:	020 7016 5130

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