Business
Open Offer raises ?1.04 million
Open Offer raises ?1.04 million.
About this update from Tower Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4294L Tower Resources PLC 12 August 2013 \n \n\n12 August 2013\nTower Resources plc\nOpen Offer raises £1.04 million\nTower Resources plc (the \"Company\" (TRP.L, TRP LN)), the AIM listed Africa focused oil and gas exploration company, announced on 25 July 2013 the details of the firm £9.0m Placing at 1.125 pence per share and the Open Offer of up to £4.1m at 1.125 pence per share. \nThe Open Offer has now closed in accordance with its terms. The Company has received valid acceptances from non-Placee Qualifying Shareholders, including for excess applications, in respect of 89,106,104 Open Offer Shares. This represents 24.7 per cent of the maximum Open Offer Shares available under the Open Offer and applications from 43.5% of the number of registered qualifying shareholders. The Company has therefore raised gross proceeds of approximately £1.04 million through the Open Offer. \nApplication has been made for these 89,106,104 Open Offer Shares, which will rank pari passu in all respects with the existing Ordinary Shares, to be admitted to trading on the AIM Market of the London Stock Exchange. It is expected that Admission of the Open Offer Shares will occur and dealings will commence at 8.00 a.m. on 16 August 2013.\nFollowing Admission of the Open Offer Shares and in accordance with Disclosure and Transparency Rules, the Company's issued ordinary share capital is now comprised of 2,516,512,515 Ordinary Shares of 0.1 pence each with voting rights.\nThe above figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Tower under the FCA's Disclosure and Transparency Rules. \nThe following table sets out the Directors' shareholding and percentage interest in the issued share capital of the Company after the Placing and Open Offer, together with their interests in warrants and options:\n\n\n\n\nDirector\n\n\nShareholding Post Placing and Open Offer\n\n\n% of Issued Share Capital post Placing and Open Offer\n\n\nNumber of Options\n\n\nNumber of Warrants\n\n\n\n\nJeremy Asher\n\n\n275,000,000\n\n\n10.93%\n\n\n\n\n\n11,453,130\n\n\n\n\nGraeme Thomson\n\n\n16,500,000\n\n\n0.66%\n\n\n20,000,000\n\n\n5,998,351\n\n\n\n\nPeter Blakey\n\n\n98,296,882\n\n\n3.91%\n\n\n\n\n\n9,196,615\n\n\n\n...