28 June 2024
TOMCO ENERGY
PLC
("TomCo"
or the "Company")
Delay in publication of 2024
Interim Results
and Suspension of trading on
AIM
TomCo 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").
The 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.
Accordingly, 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.
Notwithstanding 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.
Enquiries:
TomCo Energy plc
Malcolm Groat (Chairman)
+44 (0)20 3934 6630
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.
The information contained within this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.