TomCo Energy PLC Waiver of Options (4480Z)
January 25 2022 - 2:00AM
UK Regulatory
TIDMTOM
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 GBP30,000 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 .
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