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 raised gross proceeds of £50,000 by way of a subscription for 50,000,000 new ordinary shares of no-par value each in the capital of the Company at a price of 0.10 pence per share. The Subscription has been undertaken with Matthew Jones, an existing shareholder in the Company.
The Subscription Shares will represent approximately 1.5 per cent. of the Company’s enlarged issued share capital. The Subscription price represents a premium of approximately 5.3 per cent. to the mid-market closing price on AIM of 0.095 pence per Ordinary Share on 29 December 2023, being the latest practicable business day prior to the date of this announcement.
