Tower Resources PLC (AIM:TRP), the oil and gas company, revealed it would be providing its non-executive directors Paula Brancato and Mark Enfield as well as chief executive officer Jeremy Asher with warrants in return for £30,000 of director fees for the upcoming three months.
Allowing the company to conserve capital, the warrants are available over the next five years and would see Asher’s stake in the company increase to 9.7% while the interest of the two other directors would jump to a 1% holding.