Tower Gate Capital Limited

June 17, 2011 09:11 ET

Resignation of Subsidiary Director

17 June 2011
                                            TOWER GATE CAPITAL PLC
                                                ("the Company")

                                      Resignation of Subsidiary Director

The  Board  of  Tower Gate Capital PLC announces the resignation of Shahram Shoraka as a director  of  its  FSA
subsidiary TGC Ventures Limited as of 10 June 2011.

A  Company connected to Mr. Shoraka was allotted 405,405 Ordinary Shares in the Company and these have now been
acquired by Matthew Hudson at 18.5 pence per share.

As a result of this transaction, directors' holdings are as follows:
Matthew Hudson                                                                  24,606,776                80.31
Patrick Kealy                                                                      400,742                 1.31
Timothy Hudson                                                                     325,000                 1.06
Total                                                                           25,332,518                82.67

Matthew Hudson's total shareholding includes 3,752,697 ordinary shares (12.25%) held by his wife.

The total number of shares in issue is 30,641,118 Ordinary Shares of 0.5 pence each

The directors of the Company accept responsibility for this announcement.

Contact Information

  • Tower Gate Capital Limited