Business
Assignment of Bridging Loan and Warrants
Assignment of Bridging Loan and Warrants.
About this update from Tower Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0993Y Tower Resources PLC 03 May 2019 \n\n3 May 2019\n \nTower Resources plc\nAssignment of Bridging Loan and Warrants\n \nTower Resources plc (the \"Company\" or \"Tower\" (TRP.L, TRP LN)), the AIM-listed oil and gas company with a focus on Africa, provides an update regarding the Bridging Loan Facility (\"Bridging Loan\") and issue of Warrants announced on 16 April 2019. \nPegasus Petroleum Ltd, a company beneficially owned by the Company's Chairman Jeremy Asher, has agreed to a assign a total of US$375,000, comprising 50% of the Bridging Loan, to clients of Turner Pope Investments (\"TPI\") Limited, with 45,000,000 of the 5-year warrants priced at 1.0 pence per share, (\"Warrants\") also being assigned to them pro rata to their participation in the facility.\nThe assignment of the Warrants results in the Directors holdings as summarised in the table below.\n \n\n\n\nDirector\n\n\nNumber of Warrants being assigned\n\n\nTotal number of Warrants held including this assignment*\n\n\nShareholding upon exercise of total number of Warrants held\n\n\n% of issued share capital upon exercise of Warrants‡ \n\n\n\n\nJeremy Asher \n\n\n45,000,000†\n\n\n82,908,865\n\n\n153,800,360\n\n\n19.0\n\n\n\n\nPeter Taylor\n\n\n-\n\n\n17,190,413\n\n\n35,642,139\n\n\n4.4\n\n\n\n\nGraeme Thomson\n\n\n-\n\n\n15,690,413\n\n\n20,841,180\n\n\n2.6\n\n\n\n*Warrants are held at different prices\n† Warrants issued to Pegasus Petroleum Ltd; a company beneficially owned by Jeremy Asher\n‡Excludes share options \n \nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n Contacts\n \n\n\n\nTower Resources plc\n\n\[email protected]\n\n\n\n\nJeremy Asher\nChairman and CEO\n\n\n \n\n\n\n\n \nAndrew Matharu\nVP - Corporate Affairs\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nSP Angel Corporate Finance LLP\nNominated Adviser and Joint Broker\n\n\n+44 20 3470 0470\n\n\n\n\nStuart Gledhill\nCaroline Rowe\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nTurner Pope Investments (TPI) Limited\nJoint Broker\nAndy Thacker\n \n\n\n+44 20 3621 4120\n\n\n\n\nWhitman Howard Limited\nJoint Broker\nNick Lover...