Business
Commencement of ADR Programme
Commencement of ADR Programme.
About this update from Tomco Energy Plc
[{"type":"text","content":"\n TomCo Energy PLC\n10 August 2007\n\n\n TomCo Energy Plc\n ('TomCo' or 'the Company')\n\n Commencement of ADR Programme\n\nFollowing the announcement on 31 July 2007, the Company is pleased to announce\nthe commencement, at market opening, of the American Depositary Receipt ('ADR')\nprogramme on the Pink Sheets quotation service, under the symbol TMCGY.\n\nThe ratio of ordinary shares to each ADR is 200:1, with the Bank of New York\nacting as the ADR issuer for TomCo.\n\nThe terms of the ADRs are governed by the Deposit Agreement filed along with\nForm F-6 with the Securities and Exchange Commission ('SEC'), available on the\nCompany's website or at the EDGAR website of the SEC.\n\nContact:\n\nFor further information, contact:\n\nTomCo Energy Plc +44 (0)20 7808 4857\nStephen Komlosy\n\nStrand Partners Ltd. +44 (0)20 7409 3494\nWarren Pearce\nThomas Lockyer\n\nBankside Consultants Ltd. +44 (0)20 7367 8888\nSimon Rothschild\nLouise Maison\n\nNotes:\n\nTomCo is an AIM listed company which continues to actively develop a\nconventional oil production profile in the South-Western United States. The\nCompany also owns leases on approximately 3000 acres of shale oil holdings in\nUtah, estimated by SRK (an independent firm of mining consultants) to contain\nsome 230 million barrels of oil. For further information on the Company visit:\nwww.tomcoenergy.com\n\nAbout ADRs\n\nAn ADR is a negotiable US security which is issued by a US based depositary bank\nand represents underlying shares of a non-US company. ADRs are priced in US\ndollars, and allow US investors to buy and sell ADRs of non-US companies in a\nsimilar way to buying or selling shares of US domestic companies, reducing or\neliminating settlement delays, high transaction costs, and other potential\ninconveniences associated with international securities trading.\n\nAn ADR is created when a broker purchases a company's shares on the home stock\nmarket and delivers those shares to the depositary's local custodian bank, which\nthen instructs the depositary bank to issue ADRs. ADRs are treated in the same\nmanner as other US securities for clearance, settlement, transfer and ownership\npurposes.\n\n\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2568,"tagName":"div"}]