TIDMTOM

RNS Number : 9223A

TomCo Energy PLC

04 June 2021

4 June 2021

TOMCO ENERGY PLC

("TomCo" or the "Company")

Directorate Change

TomCo Energy plc (AIM: TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces the resignation of Mr Robert Kirchner as a Non-Executive Director of the Company with immediate effect.

The Company has entered into an agreement with Mr Kirchner by which his departure arrangements have been settled, including that the Company can avail itself of Mr Kirchner's expertise and advice in the oil and gas sector over the next 12 months. The total amount paid under this agreement is GBP32,500.

Entry into the agreement constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. Accordingly, the independent directors, being Mr Malcolm Groat, Mr John Potter, Mr Louis Castro and Mr Richard Horsman, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, consider that the terms of the agreement are fair and reasonable insofar as the Company's shareholders are concerned.

Malcolm Groat, Non-Executive Chairman of TomCo, commented:

"I would like to thank Rob for his contribution to TomCo and for agreeing to be available to provide consultancy services over the next 12 months as required. We wish him well with his future endeavours."

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)

   Charlie Brook-Partridge / Jon Belliss                                          +44 (0)20 7399 9402

IFC Advisory Limited (Financial PR)

   Tim Metcalfe / Graham Herring                                                 +44 (0)20 3934 6630

For further information, please visit www.tomcoenergy.com .

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END

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