REG - TomCo Energy PLC - Partial Conversion of Convertible Loan Note

TomCo EnergyAnnouncement

01/06/2023 17:30

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RNS Number : 4118B  TomCo Energy PLC  01 June 2023

1 June 2023

TOMCO ENERGY PLC

("TomCo" or the "Company")

 

Partial Conversion of Tranche One of the Convertible Loan Note Facility

and Issue of Equity

 

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on
using innovative technology to unlock unconventional hydrocarbon resources,
announces that the Company has received a conversion notice from certain
Convertible Loan subscribers to convert £25,000 principal amount of the
initial £250,000 tranche of the Convertible Loan and the associated interest
of £1,250 (5%), into new ordinary shares of no-par value in the capital of
the Company ("Ordinary Shares"). Following this conversion, there is £25,000
principal amount outstanding under the Convertible Loan facility, full details
of which were set out in the Company's announcement of 30 March 2023.

 

The conversion price per new Ordinary Share under the terms of the facility is
the lower of: (i) 0.60 pence; and (ii) the volume-weighted average price of an
Ordinary Share during any five of the fifteen business days prior to service
or deemed service of a conversion notice, as selected by the noteholder(s)
concerned and sourced from Bloomberg L.P., discounted by 15%.  Accordingly,
the conversion price has been determined to be 0.1287 pence per new Ordinary
Share such that the conversion will result in 20,396,270 new Ordinary Shares
being issued to the subscriber(s) concerned (the "Conversion Shares").

 

Admission to trading

 

Application will be made to the London Stock Exchange for the 20,396,270
Conversion Shares to be admitted to trading on AIM ("Admission"). It is
expected that Admission will become effective and that dealings in the
Conversion Shares on AIM will commence at 8.00 a.m. on or around 7 June 2023.

 

Total Voting Rights

 

On Admission, the Company's issued share capital will consist of 2,395,069,217
Ordinary Shares, each with one voting right.  There are no shares held in
treasury. Therefore, the Company's total number of Ordinary Shares and voting
rights will be 2,395,069,217 and this figure may be used by shareholders
following Admission 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 Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

Capitalised terms not otherwise defined in this announcement have the same
meanings as ascribed to them in the Company's announcement of 30 March 2023.

 

Enquiries:

 

TomCo Energy plc

Malcolm Groat (Chairman) / John Potter (CEO)
  +44 (0)20 3823 3635

 

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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