UK markets close in 7 hours 53 minutes
  • FTSE 100

    7,117.98
    +8.01 (+0.11%)
     
  • FTSE 250

    22,488.48
    -21.64 (-0.10%)
     
  • AIM

    1,238.81
    +0.33 (+0.03%)
     
  • GBP/EUR

    1.1646
    -0.0018 (-0.15%)
     
  • GBP/USD

    1.3909
    -0.0012 (-0.08%)
     
  • BTC-GBP

    24,472.82
    +564.22 (+2.36%)
     
  • CMC Crypto 200

    816.78
    +30.16 (+3.83%)
     
  • S&P 500

    4,266.49
    +24.65 (+0.58%)
     
  • DOW

    34,196.82
    +322.58 (+0.95%)
     
  • CRUDE OIL

    73.38
    +0.08 (+0.11%)
     
  • GOLD FUTURES

    1,782.50
    +5.80 (+0.33%)
     
  • NIKKEI 225

    29,066.18
    +190.95 (+0.66%)
     
  • HANG SENG

    29,273.43
    +390.97 (+1.35%)
     
  • DAX

    15,556.35
    -32.88 (-0.21%)
     
  • CAC 40

    6,627.34
    -3.81 (-0.06%)
     

ADM Energy PLC: Disposal of Interest in Superdielectrics

·4-min read

DGAP-News: ADM Energy PLC / Key word(s): Disposal
20.05.2021 / 11:40
The issuer is solely responsible for the content of this announcement.

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.


20 May 2021

ADM Energy PLC
("ADM" or the "Company")

Disposal of Interest in Superdielectrics

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, is pleased to announce that it has completed the sale of 188,778 shares in Superdielectrics Ltd ("Superdielectrics") for a total consideration of £849,501, a profit of £656,003.55 on ADM's original investment.

In 2017 and 2018, ADM invested a total of £199,875 to acquire 195,000 shares in Superdielectrics at an average cost per share of £1.025. Superdielectrics' most recent funding round in October 2020 at a price of £4.50 per share, valued ADM's holding at £877,500, representing a total book profit of £677,625 and an increase in value of approximately 340%. The Board approved the sale of 188,778 shares at a price of £4.50 per share to shareholders of Superdielectrics, leaving ADM with a holding of 6,222 shares following the sale. ADM has received the proceeds from the sale of the investment.

Osamede Okhomina, CEO of ADM Energy plc, said: "We are delighted to complete this successful transaction with an excellent return on our investment. The proceeds of the sale, together with our recent fundraise, will be used to support our growth strategy as we advance our current assets at Aje and the Barracuda Field, while continuing to identify and pursue new projects that can bring value to the Company. In line with ADM's investment strategy, the Company is open to considering further renewable energy investments in future, such as solar and wind power projects."

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, Daniel Gee-Summons

 

 

 

Hybridan LLP

+44 20 3764 2341

(Joint Broker)

 

Claire Louise Noyce

 

 

 

ODDO BHF Corporates & Markets 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 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.

The Company also holds 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.

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.


20.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

ADM Energy PLC

60 Gracechurch street

EC3V 0HR London

United Kingdom

Phone:

+44 (0)2077863555

E-mail:

hello@admenergyplc.com

Internet:

www.admenergyplc.com

ISIN:

GB00BJFDXW97

WKN:

A2PLC1

Listed:

Foreign Exchange(s) London

EQS News ID:

1198893


 

End of News

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting