ADM Energy PLC Issue of Equity (8870U)
April 08 2021 - 10:35AM
UK Regulatory
TIDMADME
RNS Number : 8870U
ADM Energy PLC
08 April 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF
DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT
2018). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
8 April 2021
ADM Energy PLC
("ADM" or the "Company")
Issue of Equity
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural
resources investing company, announces that it has issued the
following shares in respect of accrued interest on loans.
ADM has issued a total of 443,627 Ordinary Shares to a
participant ("the Lender") of the GBP200,000 loan facility
announced on 27 April 2020 and the GBP200,000 loan facility
announced on 25 August 2020 to settle the GBP15,000 interest
accrued on the Lender's original loans. Pursuant to the terms of
the loans, 208,333 ordinary shares have been issued at a price of
2.4 pence per share and 235,294 ordinary shares have been issued at
a price 4.25 pence per share to settle the interest accrued on the
April and August loans respectively. The Lender has GBP25,000 of
principal loan outstanding on the first loan facility and
GBP100,000 of principal loan outstanding on the second loan
facility.
Admission to AIM and Total Voting Rights
Application will be made for the new ordinary shares, which
total 443,627, to be admitted to trading on AIM. The new ordinary
shares will rank pari passu with the existing ordinary shares. It
is expected that Admission of the Shares will become effective and
that dealings will commence at 8.00 a.m. on or around 14 April
2021.
Following Admission of the shares, the Company's enlarged issued
share capital will comprise 151,922,950 Ordinary Shares of 1 pence
each with voting rights in the Company. This figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in the interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
Enquiries:
ADM Energy plc +44 20 7459 4718
Osamede Okhomina, CEO
www.admenergyplc.com
Cairn Financial Advisers LLP +44 20 7213 0880
(Nominated Adviser)
Jo Turner, James Caithie
Arden Partners plc +44 20 7614 5900
(Lead Broker)
Paul Shackleton, Dan Gee-Summons
Hybridan LLP +44 20 3764 2341
(Joint Broker)
Claire Louise Noyce
Oddo Seydler Bank AG +49 69 920540
(Designated Sponsor)
Michael B. Thiriot
Luther Pendragon +44 20 7618 9100
(Financial PR)
Harry Chathli, Alexis Gore, Joe Quinlan
About ADM Energy PLC
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC) is a natural
resources investing company with an existing asset base in Nigeria.
ADM Energy holds a 9.2% profit interest in the oil producing Aje
Field, part of OML 113, which covers an area of 835km(2) offshore
Nigeria. Aje has multiple oil, gas, and gas condensate reservoirs
in the Turonian, Cenomanian and Albian sandstones with five wells
drilled to date.
The Company has also agreed an investment in the development of
the Barracuda Field, an existing discovery and near-term production
asset in OML 141, which covers 1,295 km2 in the swamp/shallow
waters of the Niger Delta. Four existing wells have been drilled to
date and a fifth is intended to be drilled in Q4 2021.
ADM Energy is seeking to build on its existing asset base in
Nigeria and target other investment opportunities across the West
African region in the oil and gas sector with attractive risk
reward profiles such as proven nature of reserves, level of
historic investment, established infrastructure and route to early
cash flow.
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END
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