Business
Issue of Equity to P.D.F. Limited
Issue of Equity to P.D.F. Limited.
About this update from Tower Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1802S Tower Resources PLC 05 November 2013 \n \n\n5 November 2013\n \nTower Resources plc\nIssue of Equity to P.D.F. Limited \nTower Resources plc (the \"Company\" or \"Tower\" (TRP.L, TRP LN)), the AIM listed Africa focussed oil and gas exploration company, is pleased to announce the following issue of equity, subject to the Admission on the AIM market, to P.D.F. Limited (\"PDF\").\nTower has agreed to issue 1,805,702 Ordinary Shares in the capital of the Company (\"Ordinary Shares\") to PDF, the company's Outsourced Exploration Department (OE-xD™), in part payment for services provided during the calendar quarter ending 30 September 2013 as part of a previously announced quarterly contractual arrangement. The new Ordinary Shares will be issued at a price of 1.29p per share representing the average share price of the last 10 days of the calendar quarter ending 30 September 2013. The shares will rank pari passu in all respects with the Company's existing Ordinary Shares and application has been made for the new Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange. Dealings are likely to commence at 8:00am on Friday 8 November 2013.\nPDF now holds a total of 12,105,509 Ordinary Shares in Tower representing 0.46% of the issued share capital. \nFollowing admission of the new shares and in accordance with Disclosure and Transparency Rules, the Company's issued ordinary share capital will be comprised of 2,638,318,217 Ordinary Shares of 0.1 pence each with voting rights.\n \nContacts\nTower Resources plc\nGraeme Thomson (CEO)\nAndrew Matharu (VP - Corporate Affairs)\n+44 20 7253 6639\nPeel Hunt LLP (Nominated Adviser and Joint Broker)Richard Crichton/Charles Batten\n+44 20 7418 8900\nGMP Securities Europe LLP (Joint Broker) \nRob Collins/Liz Williamson\n+44 20 7647 2800\n \nVigo Communications\nChris McMahon/ Peter Reilly\n+44 20 7016 9570 \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END IOENKQDQKBDBBDK\n ","length":2929,"tagName":"div"}]