TomCo Energy Receives GBP100,000 Loan From Christopher Brown (ALLISS)

28th Mar 2018 18:45

LONDON (Alliance News) - TomCo Energy PLC said Wednesday Christopher Brown had provided a furtehr GBP100,000 unsecured loan to the firm to support working capital requirements.

Brown - a former director of TomCo and major shareholder - issued the loan with an 8.0% per annum interest attached. This follows a similar GBP100,000 loan provided by Brown previously.

The loan will be payable monthly in arrears with a repayment date of March 31, 2019.

Following receipt of the loan, TomCo had GBP177,000 in cash. This is "sufficient" for its capital requirements until August.

Shares in TomCo were 11% lower at 2.00 pence on Wednesday.

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