27 June
2024
ADM Energy
PLC
("ADM" or
the "Company")
Temporary Suspension of trading on AIM pending publication of 2023
Annual Report & Accounts
ADM Energy PLC (AIM: ADME; BER and
FSE: P4JC), a natural resource investing company, provides the
following update in relation to its Annual Report and Financial
Statements for its financial year ended 31 December 2023 (the "2023
Annual Report").
Pursuant to Rule 19 of the AIM Rules
for Companies (the "AIM Rules"), the Company is required to publish
its 2023 Annual Report by 30 June 2024. The Company confirms,
however, that the investments made by the Company in the US, which
were announced during and post year end, have resulted in a delay
in the expected timetable and the auditors require additional time
to complete their audit.
Accordingly, the Company no longer
expects to be able to publish the 2023 Annual Report by 30 June
2024. The Company is now targeting the publication of the
2023 Annual Report before end of August 2024.
Trading in the Company's ordinary
shares on AIM will be suspended with effect from 7.30 a.m. on 1
July 2024, pending publication of its 2023 Annual Report and
Accounts. Suspension from trading is expected to be lifted with the
publication of the 2023 Annual Report in due course.
The Company will continue to make
announcements regarding any developments that need to be disclosed
in accordance with its obligations under the AIM Rules, whilst the
temporary suspension is in place.
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018. Upon the publication of
this announcement via Regulatory Information Service , this inside
information is now considered to be in the public
domain.
Enquiries:
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ADM Energy
plc
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+44 7495 779520
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Stefan Olivier, Chief Executive
Officer
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www.admenergyplc.com
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Cairn
Financial Advisers LLP
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+44 20 7213 0880
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(Nominated Adviser)
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Jo Turner, James Caithie
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ODDO BHF
Corporates & Markets AG
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+49 69 920540
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(Designated Sponsor)
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Michael B. Thiriot
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Gracechurch
Group
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+44 20 4582 3500
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(Financial PR)
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Harry Chathli, Alexis Gore, Henry
Gamble
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About ADM Energy PLC
ADM Energy PLC (AIM: ADME; BER and
FSE: P4JC) is a natural resources investing company with
investments including a 30.6% economic interest in JKT Reclamation,
LLC; a 46.8% economic interest in OFX Technologies, LLC
(www.ofxtechnologies.com);
and a 9.2% profit interest in the Aje Field, part of OML 113, which
covers an area of 835km² offshore Nigeria. Aje has multiple oil,
gas, and gas condensate reservoirs in the Turonian, Cenomanian and
Albian sandstones with five wells drilled to date.
Forward Looking Statements
Certain statements in this
announcement are, or may be deemed to be, forward-looking
statements. Forward looking statements are identified by their use
of terms and phrases such as "believe", "could", "should",
"envisage'', "estimate", "intend", "may", "plan", "potentially",
"expect", "will" or the negative of those, variations or comparable
expressions, including references to assumptions. These
forward-looking statements are not based on historical facts but
rather on the Directors' current expectations and assumptions
regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the
amount, nature and sources of funding thereof), competitive
advantages, business prospects and opportunities. Such
forward-looking statements reflect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.