# TomCo Energy converts remainder of convertible loan facility

- Link: https://www.directorstalkinterviews.com/tomco-energy-converts-remainder-of-convertible-loan-facility/4121123217
- Published: 2023-07-04T07:05:17+01:00
- Author: Madison Wilson

**TomCo Energy plc** (LON:TOM), the US operating oil development group focused on
using innovative technology to unlock unconventional hydrocarbon resources, has 
announced that the Company has received a conversion notice from a Convertible Loan
subscriber to convert the remaining £25,000 principal amount of the Convertible 
Loan and associated interest theron of £1,250 (5%), into new ordinary shares of 
no-par value in the capital of the Company. Following this final conversion, there
is no amount outstanding under the Convertible Loan facility, full details of which
were set out in the Company’s announcement of 30 March 2023.

The conversion price per new Ordinary Share under the terms of the facility is the
lower of: (i) 0.60 pence; and (ii) the volume-weighted average price of an Ordinary
Share during any five of the fifteen business days prior to service or deemed service
of a conversion notice, as selected by the noteholder concerned and sourced from
Bloomberg L.P., discounted by 15%.  Accordingly, the conversion price has been determined
to be 0.061999 pence per new Ordinary Share such that the conversion will result
in 42,339,393 new Ordinary Shares being issued to the subscriber concerned.

**Admission to trading**

Application will be made to the London Stock Exchange for the 42,339,393 Conversion
Shares to be admitted to trading on AIM. It is expected that Admission will become
effective and that dealings in the Conversion Shares on AIM will commence at 8.00
a.m. on or around 10 July 2023.

**Total Voting Rights**

On Admission, TomCo Energy’s issued share capital will consist of 3,062,408,610 
Ordinary Shares, each with one voting right.  There are no shares held in treasury.
Therefore, the Company’s total number of Ordinary Shares and voting rights will 
be 3,062,408,610 and this figure 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 Company
under the FCA’s Disclosure Guidance and Transparency Rules.

Capitalised terms not otherwise defined in this announcement have the same meanings
as ascribed to them in the Company’s announcement of 30 March 2023.

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