TomCo Energy PLC Partial Conversion of Convertible Loan Notes (5587C)
October 12 2022 - 2:00AM
UK Regulatory
TIDMTOM
RNS Number : 5587C
TomCo Energy PLC
12 October 2022
12 October 2022
TOMCO ENERGY PLC
("TomCo" or the "Company")
Partial Conversion of 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 a Convertible Loan subscriber
to convert the remaining GBP175,000 principal amount of the first
tranche of the Convertible Loan, together with GBP75,000 principal
amount of the second tranche of the Convertible Loan and the
associated interest on both principal amounts of GBP12,500 (5%),
into new Ordinary Shares.
The conversion price per new Ordinary Share under the terms of
the facility is the lower of: (i) 0.75 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 concerned and
sourced from Bloomberg L.P., discounted by 15%. Accordingly, the
conversion price has been determined to be 0.337892 pence per new
Ordinary Share such that the conversion will result in 77,687,545
new Ordinary Shares being issued to the subscriber concerned (the
"Conversion Shares").
Admission to trading
Application will be made to the London Stock Exchange for the
77,687,545 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 17 October 2022.
Following this latest conversion a total of GBP300,000 principal
amount remains outstanding under the Convertible Loan.
Total Voting Rights
On Admission, the Company's issued share capital will consist of
1,885,439,385 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 1,885,439,385
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 1 September 2022.
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 .
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.
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END
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