REG - TomCo Energy PLC - Waiver of Options

TomCo EnergyAnnouncement

25/01/2022 07:05

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RNS Number : 4480Z  TomCo Energy PLC  25 January 2022

25 January 2022

TOMCO ENERGY PLC

("TomCo" or the "Company")

 

Waiver of Options

 

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on
using innovative technology to unlock unconventional hydrocarbon resources,
announces that further to Richard Horsman stepping down from the Board
yesterday, he has agreed to waive all his rights in connection with his
holding of 7,500,000 options to subscribe for new ordinary shares in the
Company with effect from the receipt of a payment of £30,000 from the Company
(the "Agreement").

 

Such Agreement with a former director constitutes a related party transaction
pursuant to Rule 13 of the AIM Rules for Companies.  Accordingly, the
independent directors, being Malcolm Groat, John Potter, Louis Castro and Zac
Phillips, having consulted with the Company's Nominated Adviser, Strand Hanson
Limited, consider that the terms of the Agreement are fair and reasonable
insofar as the Company's shareholders are concerned.

 

 

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/) .

 

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