TomCo Energy PLC Equity Placing and PDMR Shareholding (7665I)
02 September 2016 - 4:00PM
UK Regulatory
TIDMTOM
RNS Number : 7665I
TomCo Energy PLC
01 September 2016
2(nd) September 2016
TomCo Energy plc (AIM: TOM )
("TomCo" or the "Company")
EQUITY PLACING & NOTIFICATION AND PUBLIC DISCLOSURE OF
TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND
PERSONS CLOSELY ASSOCIATED WITH THEM
TomCo is pleased announce that it has raised GBP400,000 before
expenses (GBP371,000 net of commissions payable by the Company), by
way of a placing ("Placing") of 571,428,571 new Ordinary Shares of
no par value in the Company ("Placing Shares") at a placing price
of 0.07 pence per share ("Placing Price").
The Placing is conditional only upon admission of the Placing
Shares to trading on AIM.
The Company intends to use the proceeds of the Placing to
advance its Palm Oil business and for working capital purposes.
In addition, and further to the Company's announcement of 20(th)
May 2016, the Convertible Loan of GBP150,000 provided to the
Company by Christopher Brown, TomCo's Chief Executive, will be
converted into 214,285,714 Ordinary Shares at the Placing Price
("Conversion Shares") in accordance with the previously announced
terms. Also in accordance with the terms of the Convertible Loan,
Mr. Brown has been issued 107,142,857 warrants giving the right to
acquire new shares at a price of 0.17p for a period of two
years.
The Placing Shares and the Conversion Shares will rank pari
passu with the existing Ordinary Shares and application will be
made for the Placing Shares and Conversion Shares to be admitted to
trading on AIM ("Admission"). It is expected that Admission will
become effective and dealings in the Placing Shares will commence
at 8.00 a.m. on 8(th) September 2016.
Following Admission Mr. Brown will hold an interest in an
aggregate in 214,285,714 Ordinary Shares (representing
approximately 7.5% of the Company's enlarged share capital), Mr.
Brown is also the life tenant and settlor of the BBCK Family Trust
in Jersey, and therefore an indirect beneficiary of Kenglo One Ltd,
a Jersey-based company that is the largest shareholder of TomCo
with an interest in 492,920,548 Ordinary Shares (representing
approximately 17.3% of the Company's enlarged share capital).
Following Admission of the Placing Shares and the Conversion
Shares, the Company's issued share capital will consist of
2,847,189,198 Ordinary Shares with voting rights. There are no
Ordinary Shares held in treasury. This number 2,847,189,198 may be
used by shareholders, following Admission, as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, the
share capital of the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
Special note concerning the Market Abuse Regulation
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014
("MAR"). Market soundings, as defined in MAR, were taken in respect
of the Placing, with the result that certain persons became aware
of inside information, as permitted by MAR. That inside information
is set out in this announcement. Therefore, those persons that
received inside information in a market sounding are no longer in
possession of inside information relating to the Company and its
securities.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1. Details of the person discharging managerial responsibilities/person
closely associated
------- ------------------------------------------------------------------------
a) Name: Christopher Brown
------- ----------------------------------------- -----------------------------
2. Reason for the notification
------- ------------------------------------------------------------------------
a) Position/status: Chief Executive Officer
------- ----------------------------------------- -----------------------------
b) Initial notification/amendment: Initial notification
------- ----------------------------------------- -----------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
------- ------------------------------------------------------------------------
a) Name: TomCo Energy plc
------- ----------------------------------------- -----------------------------
b) LEI:
------- ----------------------------------------- -----------------------------
4. i) Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
------- ------------------------------------------------------------------------
a) Description of the financial instrument, Ordinary shares of
type of instrument: no par value
Identification code: GB0031782278
------- ----------------------------------------- -----------------------------
b) Nature of the transaction: Conversion of loan
------- ----------------------------------------- -----------------------------
c) Price(s) and volume(s): Prices(s) Volume(s)
------------ ------------
0.07 pence 214,285,714
------------ ------------
------- ----------------------------------------- -----------------------------
d) Aggregated information: Single transaction
as in 4 i) c) above
Aggregated volume: Prices(s) Volume(s)
------------ ------------
Price: 0.07 pence 214,285,714
------------ ------------
------- ----------------------------------------- -----------------------------
e) Date of transaction: 2 September 2016
------- ----------------------------------------- -----------------------------
f) Place of transaction Outside a trading
venue
------- ----------------------------------------- -----------------------------
4. ii) Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
------- ------------------------------------------------------------------------
a) Description of the financial instrument, Warrants over ordinary
type of instrument: shares of no par value
Identification code: GB0031782278
------- ----------------------------------------- -----------------------------
b) Nature of the transaction: Grant of warrants
over ordinary shares
------- ----------------------------------------- -----------------------------
c) Price(s) and volume(s): Prices(s) Volume(s)
------------ ------------
0.17 pence 107,142,857
------------ ------------
------- ----------------------------------------- -----------------------------
d) Aggregated information: Single transaction
as in 4 ii) c) above
Aggregated volume: Prices(s) Volume(s)
------------ ------------
Price: 0.17 pence 107,142,857
------------ ------------
------- ----------------------------------------- -----------------------------
e) Date of transaction: 2 September 2016
------- ----------------------------------------- -----------------------------
f) Place of transaction Outside a trading
venue
------- ----------------------------------------- -----------------------------
Enquiries:
For further information, please visit www.tomcoenergy.uk.com or
contact:
TomCo Energy plc
Telephone +44 (0) 20 3823
3635
Chris Brown (CEO) chris@tomcoenergy.uk.com
Andrew Jones (Chairman) andrew@tomcoenergy.uk.com
SP Angel Corporate Finance LLP (Nomad & Broker)
Telephone +44 (0) 20 3470 0470
Stuart Gledhill stuart.gledhill@spangel.co.uk
Richard Hail richard.hail@spangel.co.uk
Tavistock Communications (Financial PR)
Telephone +44 (0) 20 7920 3150
Ed Portman/Jos Simson eportman@tavistock.co.uk
-------------------------- ------------------------------
- ENDS-
This information is provided by RNS
The company news service from the London Stock Exchange
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