Business
Delay in Interims & Suspension of trading on AIM
Delay in Interims & Suspension of trading on AIM.
About this update from Tomco Energy Plc
[{"type":"text","content":"\n\n28 June 2024\nTOMCO ENERGY PLC\n(\"TomCo\" or the \"Company\")\n \nDelay in publication of 2024 Interim Results\nand Suspension of trading on AIM\n \nTomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, provides the following update in relation to its unaudited interim results for the six-month period ended 31 March 2024 (the \"2024 Interim Results\").\n \nThe Company notifies that it will not be in a position to publish its 2024 Interim Results by 30 June 2024, as stipulated by Rule 18 of the AIM Rules for Companies (the \"AIM Rules\"), as it is currently in the process of seeking to raise additional equity and/or debt capital to provide sufficient working capital for the group to enable it to finalise and release its 2024 Interim Results. The Company currently has very limited cash resources but is carefully managing its trade creditors and deferring Directors' salaries and all non-essential expenditure whilst it assesses potential funding options. Whilst the Board remains confident in its ability to raise such additional funding, it cannot be guaranteed.\n \nAccordingly, as a result of the current funding uncertainty and impact on the finalisation of the interim accounts, trading in the Company's ordinary shares on AIM will be suspended with effect from 7.30 a.m. on 1 July 2024 pending publication of the 2024 Interim Results. It is expected that suspension from trading will be lifted upon funding being secured and publication of the 2024 Interim Results in due course. Further announcements will be made as and when appropriate. The Company is targeting the publication of its 2024 Interim Results as soon as practically possible.\n \nNotwithstanding the suspension of trading in the Company's ordinary shares, the Company will continue to make announcements as and when there are any developments that require announcement in accordance with its obligations under the AIM Rules.\n \nEnquiries:\n \nTomCo Energy plc\nMalcolm Groat (Chairman) +44 (0)20 3934 6630\n \nStrand Hanso...