TomCo Energy PLC
10 August 2007
TomCo Energy Plc
('TomCo' or 'the Company')
Commencement of ADR Programme
Following the announcement on 31 July 2007, the Company is pleased to announce
the commencement, at market opening, of the American Depositary Receipt ('ADR')
programme on the Pink Sheets quotation service, under the symbol TMCGY.
The ratio of ordinary shares to each ADR is 200:1, with the Bank of New York
acting as the ADR issuer for TomCo.
The terms of the ADRs are governed by the Deposit Agreement filed along with
Form F-6 with the Securities and Exchange Commission ('SEC'), available on the
Company's website or at the EDGAR website of the SEC.
Contact:
For further information, contact:
TomCo Energy Plc +44 (0)20 7808 4857
Stephen Komlosy
Strand Partners Ltd. +44 (0)20 7409 3494
Warren Pearce
Thomas Lockyer
Bankside Consultants Ltd. +44 (0)20 7367 8888
Simon Rothschild
Louise Maison
Notes:
TomCo is an AIM listed company which continues to actively develop a
conventional oil production profile in the South-Western United States. The
Company also owns leases on approximately 3000 acres of shale oil holdings in
Utah, estimated by SRK (an independent firm of mining consultants) to contain
some 230 million barrels of oil. For further information on the Company visit:
www.tomcoenergy.com
About ADRs
An ADR is a negotiable US security which is issued by a US based depositary bank
and represents underlying shares of a non-US company. ADRs are priced in US
dollars, and allow US investors to buy and sell ADRs of non-US companies in a
similar way to buying or selling shares of US domestic companies, reducing or
eliminating settlement delays, high transaction costs, and other potential
inconveniences associated with international securities trading.
An ADR is created when a broker purchases a company's shares on the home stock
market and delivers those shares to the depositary's local custodian bank, which
then instructs the depositary bank to issue ADRs. ADRs are treated in the same
manner as other US securities for clearance, settlement, transfer and ownership
purposes.
This information is provided by RNS
The company news service from the London Stock Exchange