TomCo Energy PLC Statement re share price and exercise of warrants (7078S)
10 Luglio 2020 - 2:32PM
UK Regulatory
TIDMTOM
RNS Number : 7078S
TomCo Energy PLC
10 July 2020
10 July 2020
TOMCO ENERGY PLC
("TomCo" or the "Company")
Statement re. share price movement
and exercise of warrants
TomCo Energy plc (AIM: TOM), the oil shale exploration,
development and technology group focused on using innovative
technology to unlock unconventional hydrocarbon resources, notes
the recent increase in the Company's share price and confirms that
it is not aware of any reason for the significant increase.
Following completion of the recent placing, announced on 2 July
2020, the Company is now working with its JV partner, Valkor LLC,
to seek to finalise the planned upgrades and the proposed work
programme to Petroteq Energy Inc's existing oil sands plant at
Asphalt Ridge, Utah (the "POSP").
As set out in the announcement of 2 July 2020, the Company
believes that it will take approximately three months to complete
the upgrade works to the POSP, with the test programme expected to
then take approximately a further 4-6 weeks, with third party
verification of the process to then be undertaken following the
testing.
The Company will keep shareholders updated in respect of the
proposed upgrades to and the planned work programme at the POSP and
further announcements will be made as appropriate.
Exercise of Warrants
TomCo Energy plc (AIM: TOM), the oil shale exploration,
development and technology group focused on using innovative
technology to unlock unconventional hydrocarbon resources ,
announces that it has received notice of exercise of warrants by
Novum Securities Ltd ("NSL"), the Company's joint broker, to
subscribe for a total of 18,375,000 new ordinary shares of no par
value each in the capital of the Company ("Ordinary Shares"). The
new Ordinary Shares are being issued at a price of 0.4 pence per
share and relate to the warrants issued to NSL as part of the
Company's placing announced on 2 July 2020.
Admission and Total Voting Rights
The new Ordinary Shares will rank pari passu with the existing
Ordinary Shares and application will be made for the new Ordinary
Shares to be admitted to trading on AIM ("Admission"). It is
expected that Admission will become effective and dealings in the
new Ordinary Shares will commence at 8.00 a.m. on 16 July 2020.
Following Admission, the Company's issued share capital will
consist of 669,134,235 Ordinary Shares with voting rights. The
Company does not hold any Ordinary Shares in treasury. Therefore,
the total number of Ordinary Shares and voting rights in the
Company will be 669,134,235. With effect from Admission, this
figure may be used by shareholders in the Company as the
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, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Enquiries:
TomCo Energy plc
Stephen West (Chairman) / John Potter (CEO) +44 (0)20 3823 3635
Strand Hanson Limited (Nominated Adviser)
James Harris / Richard Tulloch / James Dance +44 (0)20 7409 3494
Turner Pope (Joint Broker)
Andy Thacker / Zoe Alexander +44 (0)20 3657 0050
Novum Securities Limited (Joint Broker)
Charlie Brook-Partridge +44 (0)20 7399 9402
For further information, please visit www.tomcoenergy.com .
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014.
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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July 10, 2020 08:32 ET (12:32 GMT)
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