ADM Energy Plc - Corporate Update, Delay to the Publication of Annual Results and Half-year Report, Continued Suspension to Trading on AIM
PR Newswire
LONDON, United Kingdom, October 02
02 October 2025
ADM Energy PLC
("ADM" or the "Company")
Corporate Update
Delay to the Publication of 2024 Annual Results and 2025 Half-year Report
and Continued Suspension to Trading on AIM
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resource investing company, provides the following update in relation to trading activity of its investee company, JKT Reclamation, LLC, working capital position and its continued suspension.
The Company was advised that on 29 September 2025, JKT Reclamation, LLC ("JKT"), ADM's investee company, signed an 18 month funded ISDA (International Swaps and Derivatives Association, Inc.) swap agreement (effective 25 November 2025) with a large privately held US corporation ("Purchaser") for the forward sale of 1,200 barrels of oil a month (the "Swap Agreement"). The proceeds of the Swap Agreement, approximately US$223,000, which were received on 30 September 2025, will be used by JKT to continue to develop the reclamation operations at the site and the Company expects to provide further updates on JKT's development as the funds are deployed. The Company has a 41.4% economic interest in JKT Reclamation, LLC, through its subsidiary ADM Energy (USA), Inc.
In March 2025, the Company raised £587,000 via a Subscription and Broker Option, which was used to provide further capital to increase the Company's interest in its portfolio of investments, including JKT and the Altoona Lease in Kern County, California. Despite the positive progress made by its investee companies and the recent funding being sourced by the Swap Agreement for JKT, limited funds are being returned to the Company to support its ongoing operations and the Company's working capital remains very constrained as previously announced.
Since this fundraise, the Board has been carefully managing the Company's working capital while it explores longer-term structured solutions. It has reduced creditor liabilities and remains in discussions with key stakeholders to manage the financial position of the Company. Further, the Company is in continued discussions with an interested party in relation to further funding of its investee companies, and at the PLC level. However, in the event that these discussions do not progress, the Board will need to carefully consider the company's financial position and solvency.
Delay to the Publication of 2024 Annual Results and 2025 Half-year Report
Further to the announcement made on 1 July 2025, the Company announces that it anticipates being able to publish its Annual Report and Financial Statements for its financial year ended 31 December 2024 ("2024Annual Report") and its Half-year Report for the six months ended 30 June 2025 ("2025Half-year Report") by 31 December 2025.
As announced previously, pursuant to Rule 19 of the AIM Rules for Companies (the "AIM Rules"), the Company was required to publish its 2024 Annual Report by 30 June 2025 and its 2025 Half-year Report by 30 September 2025. Trading in the Company's ordinary shares on AIM will remain suspended pending publication of its 2024 Annual Report and Accounts and its 2025 Half-year Report.
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.
Market Abuse Regulation (MAR) Disclosure
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:
| ADM Energy plc | +1 214 675 7579 |
| Randall Connally, Chief Executive Officer | |
| www.admenergyplc.com | |
| Cairn Financial Advisers LLP | +44 207 213 0880 |
| (Nominated Adviser) | |
| Jo Turner / Liam Murray / Ed Downes | |
| Novum Securities Limited | +44 207 399 9400 |
| (Broker) | |
| Gavin Burnell / Colin Rowbury | |
| ODDO BHF Corporates & Markets AG | +49 69 920540 |
| (Designated Sponsor, Frankfurt Stock Exchange) | |
| Michael B. Thiriot |
About ADM Energy PLC
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC) is a natural resources investing company with investments including a 100% interest in Vega Oil and Gas, LLC ("Vega") and through Vega holds a 25% carried working interest in the Altoona Lease, California ("Altoona"); a 41.4% economic interest in JKT Reclamation, LLC ("JKT"); a 42.2% economic interest in OFX Technologies, LLC (www.ofxtechnologies.com) ("OFXT"), and through OFXT holds 100% of Efficient Oilfield Solutions, LLC ("EOS"); 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.
