TomCo Energy PLC Partial Repayment & Extension of Valkor Loan (8699C)
14 Octubre 2022 - 1:00AM
UK Regulatory
TIDMTOM
RNS Number : 8699C
TomCo Energy PLC
14 October 2022
14 October 2022
TOMCO ENERGY PLC
("TomCo" or the "Company")
Partial Repayment and Further Extension of the Valkor Loan
TomCo Energy plc (AIM: TOM), the US operating oil development
group focused on using innovative technology to unlock
unconventional hydrocarbon resources, announces a repayment of
US$250,000 and further extension to the repayment date for the
remaining US$1,000,000 outstanding principal amount of the
unsecured loan from Valkor Oil & Gas LLC ("Valkor") to the
Company's wholly owned subsidiary, Greenfield Energy LLC (the
"Valkor Loan"), which was used for the acquisition of the initial
10% of the Membership Interests in Tar Sands Holdings II LLC , as
detailed in the Company's announcement of 16 November 2021.
On 31 May 2022, 28 June 2022, 1 August 2022 and 1 September
2022, the Company announced that the terms of the Valkor Loan had
been varied in order to extend the repayment date, with the last
extension being to on or before 14 October 2022. The Company
announces that the terms of the Valkor Loan have now been further
varied to extend the repayment date for the remaining US$1,000,000
principal amount of the loan to on or before 31 October 2022.
As a former joint venture partner, Valkor is considered to be a
related party of the Company (as defined in the AIM Rules for
Companies) and, accordingly, the further variation of the Valkor
Loan's terms is deemed to constitute a related party transaction
pursuant to AIM Rule 13. The TomCo directors, having consulted with
Strand Hanson Limited, the Company's Nominated Adviser, consider
that the further variation of the Valkor Loan's terms is 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 .
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCMJBMTMTJBTMT
(END) Dow Jones Newswires
October 14, 2022 02:00 ET (06:00 GMT)
Tomco Energy (AQSE:TOM.GB)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Tomco Energy (AQSE:TOM.GB)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024