25 Jan 2022 07:00
25 January 2022
TOMCO ENERGY PLC
("TomCo" or the "Company")
Waiver of Options
TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces that further to Richard Horsman stepping down from the Board yesterday, he has agreed to waive all his rights in connection with his holding of 7,500,000 options to subscribe for new ordinary shares in the Company with effect from the receipt of a payment of £30,000 from the Company (the "Agreement").
Such Agreement with a former director constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. Accordingly, the independent directors, being Malcolm Groat, John Potter, Louis Castro and Zac Phillips, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, consider that the terms of the Agreement are fair and reasonable insofar as the Company's shareholders are concerned.
Enquiries:
TomCo Energy plc
Malcolm Groat (Chairman) / John Potter (CEO) +44 (0)20 3823 3635
Strand Hanson Limited (Nominated Adviser)
James Harris / Matthew Chandler +44 (0)20 7409 3494
Novum Securities Limited (Broker)
Jon Belliss / Colin Rowbury +44 (0)20 7399 9402
IFC Advisory Limited (Financial PR)
Tim Metcalfe / Florence Chandler +44 (0)20 3934 6630
For further information, please visit www.tomcoenergy.com.
Tomco Energy (TOM)