ADM Energy PLC Fundraising including Offer via PrimaryBid.com (6205I)
August 09 2019 - 10:30AM
UK Regulatory
TIDMADME
RNS Number : 6205I
ADM Energy PLC
09 August 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF ADM ENERGY PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
9 August 2019
ADM Energy PLC
("ADM" or the "Company")
Fundraising including Offer via PrimaryBid.com
ADM Energy PLC (LSE: ADME), an oil and gas investing company
quoted on AIM, is pleased to announce its intention to conduct a
fundraising by the issue and allotment of new ordinary shares of 1
pence each in the Company ("New Ordinary Shares") at an issue price
of 16 pence per New Ordinary Share (the "Issue Price"), being a
discount of 15.8 per cent to the closing mid-price on 8 August
2019. The fundraising comprises a placing (the "Placing") in
conjunction with an offer via PrimaryBid (the "Offer"), together
the "Fundraising".
The Placing will be conducted by way of an accelerated bookbuild
which will be launched immediately following this announcement.
Pello Capital Limited will be acting as sole bookrunner in
connection with the Placing.
The Offer, via the PrimaryBid.com platform, will be open to
individual and institutional investors from 4.30 p.m. on 9 August
2019 to 5.00 p.m. on 11 August 2019. The Offer may close early if
it is oversubscribed. A further announcement will be made,
following the closure of the Offer and the Placing, which will
contain details of the results of the Fundraising.
The funds raised will be used for general working capital
purposes, to allow the Company to appraise further investment
opportunities and to provide funds for investment.
Details of the Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the Offer. The Company is therefore pleased to
provide private and other investors the opportunity to participate
in the Offer by applying exclusively through the www.PrimaryBid.com
platform and the PrimaryBid mobile app available on the Apple App
Store and Google Play. PrimaryBid does not charge investors any
commission for this service.
Subscriptions under the Offer will be considered by the Company
on a "first come, first served" basis, subject to conditions (which
are available to view on PrimaryBid.com).
No commission is charged to investors on applications to
participate in the Offer made through PrimaryBid. It is vital to
note that once an application for New Ordinary Shares has been made
and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid.com or the procedure for
applications under the Offer, visit www.PrimaryBid.com or call
PrimaryBid.com on +44 (0) 20 3026 4750.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
ADM Energy PLC +44 20 7786 3555
Osamede Okhomina, CEO
Cairn Financial Advisers LLP +44 20 7213 0880
(Nominated Adviser)
Jo Turner, James Caithie
PrimaryBid Limited +44 20 7491 6519
Kieran D'Silva
Pello Capital Limited +44 20 3700 2500
(Broker)
Dan Gee
Luther Pendragon +44 20 7618 9100
(Financial PR)
Harry Chathli, Alexis Gore, Joe Quinlan
Additional Details of the Offer
Retail and other investors may participate in the Offer of New
Ordinary Shares on a "first come, first served" basis, exclusively
through PrimaryBid.com.
The Offer is made under the exemptions against the need for a
prospectus allowed under the Prospectus Rules. As such, there is no
need for publication of a prospectus pursuant to the Prospectus
Rules, or for approval of the same by the Financial Conduct
Authority in its capacity as the UK Listing Authority. The Offer is
not being made into any Restricted Jurisdiction or any other
jurisdiction where it would be unlawful to do so.
There is a minimum subscription of GBP100 per investor under the
terms of the Offer which is open to existing shareholders and other
investors subscribing via PrimaryBid.com.
For further details please refer to the PrimaryBid.com website
at www.PrimaryBid.com. The terms and conditions on which the Offer
is made, including the procedure for application and payment for
New Ordinary Shares, is available to all persons who register with
PrimaryBid.com.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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