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ADM Energy PLC - Further re: ADM cooperation agreement with Dubai Bridge Investments

·3-min read

DGAP-News: ADM Energy PLC / Key word(s): Agreement
18.05.2021 / 12:05
The issuer is solely responsible for the content of this announcement.

18 May 2021

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

Further re: ADM cooperation agreement with Dubai Bridge Investments

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, notes comments made in the press in respect of Dubai Bridge Investments LLC ("DBI") and provides further information on DBI and the collaboration agreement announced on 14 October 2020.

DBI was incorporated in 2013 by Zubair Abdur-Razzaq Al Zubair and describes itself as a sector agnostic, Dubai-based investment vehicle. Mr Al Zubair was formerly a Partner and CEO of AWGAL Investments, the Dubai-based private investment vehicle of Mr Abdulwahab Galdari, where he oversaw a number of investments in the leisure, hospitality and property sectors. Since his time at AWGAL Investments, Mr Al Zubair has been involved with financing opportunities in the natural resources and energy sectors.

Mr Al Zubair is not connected to the Al Zubair family in Oman and is a US citizen with business interests in the United Arab Emirates and the US. The Company has been advised that the use of the title His Excellency by Mr Al Zubair relates to social and cultural adoption rather than it having been awarded in connection with a senior governmental, or such other, position.

ADM's intention is to continue to target undervalued producing or proven but undeveloped investment opportunities principally in sub-Saharan Africa. In this regard, DBI has expressed an interest in introducing funds into several projects considered by ADM. It is likely that any funds introduced would be at a project level and, in the event that ADM and DBI were to proceed with an investment opportunity, this would be subject to separate agreement, satisfactory conclusion of due diligence and confirmation of funding at the time. No funds have been introduced by DBI to date and no charges have been paid to DBI by the Company.

There is no certainty that any funds will be provided or introduced by DBI for investment opportunities that ADM is considering.

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

 

 

 

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.


18.05.2021 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:

1197818


 

End of News

DGAP News Service

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