REG - Tower Resources PLC - Board Changes

Tower ResourcesAnnouncement

30/09/2020 07:00

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RNS Number : 4895A  Tower Resources PLC  30 September 2020

 

30 September 2020

 

Tower Resources plc

Board Changes

 

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM listed
oil and gas company with its focus on Africa, announces the following board
changes with immediate effect.

The Company is pleased to announce that Paula Brancato has agreed to join the
board as an independent Non-Executive Director. Paula is an investment advisor
with Barnum Financial Group in New York, where she works with clients and also
in new venture and market development. Paula holds an MBA from Harvard
Business School and FINRA qualifications in the US as both a broker and
investment advisor, as well as being a member of the CFA Society New York.
Paula will also serve as Chair of the Audit Committee.

The Company also announces that David M Thomas, Non-Executive Director, has
decided to step down from the board to pursue his other business interests,
notably his interest in Orion Energy plc. The board would like to thank David
for his contribution to Tower since joining in 2017, during which time Tower
completed its G&G work on the Njonji structure, planned and designed the
NJOM-3 well, and prepared the drilling site for the well itself, in addition
to obtaining the PEL-96 license in Namibia. The board wishes him the very best
in his future endeavours.

Jeremy Asher, Chairman and CEO, commented: "We are delighted to welcome Paula
to the board, even as we are sorry to say goodbye to David. Paula will fill a
gap left by Graeme Thomson last year, for a well qualified financial
professional to oversee our audit committee, and she will also bring a fresh
set of eyes to all of our commercial and risk management. We anticipate
further additions to the board as we ramp up operations again after the
pandemic, which we hope will be soon."

Paula Concetta Brancato, also known as Paula Concetta Fritsch, (age 63),
currently has no other Directorships and has held none during the past five
years.

There are no further disclosures required under Schedule 2(g) of the AIM Rules
for Companies.

Market Abuse Regulation (MAR) Disclosure

Certain 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.

 

Contacts

 

 Tower Resources plc                    +44 20 7157 9625
 Jeremy Asher

Chairman and CEO

 Andrew Matharu

VP - Corporate Affairs

 SP Angel Corporate Finance LLP         +44 20 3470 0470

Nominated Adviser and Joint Broker
 Stuart Gledhill

 Caroline Rowe

 Turner Pope Investments (TPI) Limited  +44 20 3657 0050

Joint Broker

 Andy Thacker

 Zoe Alexander

 Panmure Gordon (UK) Limited                                   +44 20 7886 2500

Joint Broker

 Nick Lovering

 Hugh Rich

 

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