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TomCo Energy PLC - oil development group operating in US - Draws down first GBP250,000 tranche from GBP1.0 million convertible loan facility, with the funds expected to be received on or around Wednesday. In accordance with the terms of the facility, the convertible loan subscribers will be issued with 41.7 million warrants with the drawdown of the first tranche, exercisable for a period of three years from the date of drawdown, with each warrant granting the right to subscribe for shares at an exercise price of 0.60 pence per share. Novum Securities Ltd will be issued 10.0 million warrants.
Current stock price: 0.30 pence, down 9.1%
12-month change: down 43%
By Greg Rosenvinge, Alliance News reporter
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