Business
Statement re share price and exercise of warrants
Statement re share price and exercise of warrants.
About this update from Tomco Energy Plc
[{"type":"text","content":"\n \n \n RNS Number : 7078S\n TomCo Energy PLC\n 10 July 2020\n \n \n \n \n \n \n \n \n \n \n 10 July 2020\n \n \n \n \n \n TOMCO ENERGY PLC \n \n \n (\"TomCo\" or the \"Company\") \n \n \n \n \n \n Statement re. share price movement\n \n \n and exercise of warrants\n \n \n \n \n \n TomCo Energy plc (AIM: TOM), the oil shale exploration, development and technology group focused on using innovative technology to unlock unconventional hydrocarbon resources, \n notes the recent increase in the Company's share price and confirms that it is not aware of any reason for the significant increase.\n \n \n \n \n \n Following completion of the recent placing, announced on 2 July 2020, the Company is now working with its JV partner, Valkor LLC, to seek to finalise the planned upgrades and the proposed work programme to \n Petroteq Energy Inc's existing oil sands plant at Asphalt Ridge, Utah (the \"POSP\").\n \n \n \n \n \n As set out in the announcement of 2 July 2020, the Company believes that it will take approximately three months to complete the upgrade works to the POSP, with the test programme expected to then take approximately a further 4-6 weeks, with third party verification of the process to then be undertaken following the testing.\n \n \n \n \n \n The Company will keep shareholders updated in respect of the proposed upgrades to and the planned work programme at the POSP and further announcements will be made as appropriate.\n \n \n \n \n \n Exercise of Warrants\n \n \n \n \n \n TomCo Energy plc (AIM: TOM), \n the oil shale exploration, development and technology group focused on using innovative technology to unlock unconventional hydrocarbon resources\n , announces that it has received notice of exercise of warrants by \n Novum Securities Ltd (\"NSL\"), the Company's joint broker, \n to subscribe for a total of 18,375,000 new ordinary shares of no par value each in the capital of the Company (\"Ordinary Shares\"). The new Ordinary Shares are being issued at a price of 0.4 pence per share and relate to the warrants issued to NSL as part of the Company's placing announced on 2 July 2020.\n \n \n \n \n \n Admission and Total Voting Rights\n \n \n \n \n \n The new Ordinary Shares will rank pari passu with the existing Ordinary Shares and applicatio...