REG - TomCo Energy PLC - Delay in Interims & Suspension of trading on AIM

TomCo EnergyAnnouncement

28/06/2024 18:00

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RNS Number : 4575U  TomCo Energy PLC  28 June 2024

28 June 2024

TOMCO ENERGY PLC

("TomCo" or the "Company")

 

Delay in publication of 2024 Interim Results

and Suspension of trading on AIM

 

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on
using innovative technology to unlock unconventional hydrocarbon resources,
provides the following update in relation to its unaudited interim results for
the six-month period ended 31 March 2024 (the "2024 Interim Results").

 

The Company notifies that it will not be in a position to publish its 2024
Interim Results by 30 June 2024, as stipulated by Rule 18 of the AIM Rules for
Companies (the "AIM Rules"), as it is currently in the process of seeking to
raise additional equity and/or debt capital to provide sufficient working
capital for the group to enable it to finalise and release its 2024 Interim
Results. The Company currently has very limited cash resources but is
carefully managing its trade creditors and deferring Directors' salaries and
all non-essential expenditure whilst it assesses potential funding options.
Whilst the Board remains confident in its ability to raise such additional
funding, it cannot be guaranteed.

 

Accordingly, as a result of the current funding uncertainty and impact on the
finalisation of the interim accounts, trading in the Company's ordinary shares
on AIM will be suspended with effect from 7.30 a.m. on 1 July 2024 pending
publication of the 2024 Interim Results. It is expected that suspension from
trading will be lifted upon funding being secured and publication of the 2024
Interim Results in due course. Further announcements will be made as and when
appropriate. The Company is targeting the publication of its 2024 Interim
Results as soon as practically possible.

 

Notwithstanding the suspension of trading in the Company's ordinary shares,
the Company will continue to make announcements as and when there are any
developments that require announcement in accordance with its obligations
under the AIM Rules.

 

Enquiries:

 

TomCo Energy plc

Malcolm Groat (Chairman)
                         +44 (0)20 3934 6630

 

Strand Hanson Limited (Nominated Adviser)

James Harris / Matthew Chandler
                +44 (0)20 7409 3494

 

Novum Securities Limited (Broker)

Jon Belliss / Colin Rowbury
                          +44 (0)20 7399 9402

 

IFC Advisory Limited (Financial PR)

Tim Metcalfe / Florence Chandler
                  +44 (0)20 3934 6630

 

For further information, please visit www.tomcoenergy.com
(http://www.tomcoenergy.com/) .

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

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