DGAP-News: ADM Energy PLC
/ Key word(s): Miscellaneous
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. The Subscription The Company has raised, conditional on Admission (defined below), £561,000 before costs, at a subscription price of 1.11 pence per share through the issue of 51,000,000 new ordinary shares ("Subscription Shares) to Optima Resources, which will hold 19.96 per cent. of the Company's enlarged issued share capital on Admission. In connection with the Subscription, the Company will, on Admission, issue 15.3 million warrants to Optima Resources to subscribe for ordinary shares at an exercise price of 4.5 pence per share with an exercise period of two years from the date of Admission ("Warrants"). Use of Proceeds The funds will be used for general working capital including business development and due diligence on target assets, appraisals and technical evaluation. The Company continues to evaluate investment opportunities, which the board considers may have the potential to add and bring in significant value to ADM. Admission to AIM and Total Voting Rights Application has been made for the Subscription Shares, which total 51,000,000 new ordinary shares and which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission of the Subscription Shares will become effective and that dealings will commence at 08.00 a.m. on or around 26 January 2022. Following Admission, the Company's enlarged issued share capital will comprise 255,480,863 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. Osamede Okhomina, CEO of ADM Energy plc, said: "We are pleased to secure funding from a new long-term shareholder, which will be used to continue to assess several prospects. I would like to thank our shareholders and our new shareholder for their ongoing support and look forward to updating them as we progress." Enquiries:
21.01.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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: | London |
EQS News ID: | 1271183 |
End of News | DGAP News Service |
1271183 21.01.2022