10th Aug 2007 07:01
TomCo Energy PLC10 August 2007 TomCo Energy Plc ("TomCo" or "the Company") Commencement of ADR Programme Following the announcement on 31 July 2007, the Company is pleased to announcethe commencement, at market opening, of the American Depositary Receipt ("ADR")programme on the Pink Sheets quotation service, under the symbol TMCGY. The ratio of ordinary shares to each ADR is 200:1, with the Bank of New Yorkacting as the ADR issuer for TomCo. The terms of the ADRs are governed by the Deposit Agreement filed along withForm F-6 with the Securities and Exchange Commission ("SEC"), available on theCompany's website or at the EDGAR website of the SEC. Contact: For further information, contact: TomCo Energy Plc +44 (0)20 7808 4857Stephen Komlosy Strand Partners Ltd. +44 (0)20 7409 3494Warren PearceThomas Lockyer Bankside Consultants Ltd. +44 (0)20 7367 8888Simon RothschildLouise Maison Notes: TomCo is an AIM listed company which continues to actively develop aconventional oil production profile in the South-Western United States. TheCompany also owns leases on approximately 3000 acres of shale oil holdings inUtah, estimated by SRK (an independent firm of mining consultants) to containsome 230 million barrels of oil. For further information on the Company visit:www.tomcoenergy.com About ADRs An ADR is a negotiable US security which is issued by a US based depositary bankand represents underlying shares of a non-US company. ADRs are priced in USdollars, and allow US investors to buy and sell ADRs of non-US companies in asimilar way to buying or selling shares of US domestic companies, reducing oreliminating settlement delays, high transaction costs, and other potentialinconveniences associated with international securities trading. An ADR is created when a broker purchases a company's shares on the home stockmarket and delivers those shares to the depositary's local custodian bank, whichthen instructs the depositary bank to issue ADRs. ADRs are treated in the samemanner as other US securities for clearance, settlement, transfer and ownershippurposes. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tomco Energy