ADM Energy Plc - Receipt of Winding Up Petition
PR Newswire
LONDON, United Kingdom, July 15
15 July 2026
ADM Energy PLC
("ADM" or the "Company")
Receipt of Winding Up Petition
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resource investing company, announces that on 10 July 2026 a winding-up petition was published and gazetted by the Commissioners for His Majesty's Revenue and Customs ("HMRC") against the Company in the High Court of Justice, under case number CR-2026-004486. The petition is listed to be heard at 10.30 a.m. on 22 July 2026 at the Rolls Building, London.
The Company disputes the quantum of the amount claimed, believing it to be materially lower. Further, the Company has engaged a solicitor from Gunnercooke LLP, who following discussions with HMRC, is confident that an adjournment of the hearing will be granted to allow time for the amount claimed to be reconciled and to enable negotiations with HMRC to continue . It has already been confirmed by HMRC that the amount outstanding is less than 50 per cent. of the amount claimed in the petition.
The Company has entered into a short-term funding agreement with TN Black Gold, LLC ("TBG") which would assist the Company to discharge any agreed liability. Further, the Company is in ongoing discussions with a party regarding the provision of additional funding and continues to explore longer-term structured financing solutions. While the funding agreement with TBG will provide short term funds, in the absence of additional funding or an agreement with HMRC, the Board will continue to evaluate the full range of options available to the Company.
Trading in the Company's ordinary shares remains suspended from AIM, pending publication of its annual report and accounts for the year ended 31 December 2025. The Company will make a further announcement immediately upon any material development, granting of adjournment and, in any event, following the hearing on 22 July 2026.
Although the Board remains confident, it notes that there can be no certainty that an adjournment will be granted or that an agreement will be reached with HMRC.
Related Party Transaction
TBG is a company managed by Robert Lucas. Claudio Coltellini, a director of the Company, is a material shareholder of TBG. The funding agreement with TBG constitutes a related party transaction pursuant to Rule 13 of the AIM Rules for Companies (the "Transaction").
With the exception of Claudio Coltellini, the Directors of the Company consider, having consulted with its nominated adviser, Cairn Financial Advisers LLP, that the terms of the Transaction are fair and reasonable insofar as its shareholders are concerned.
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, Executive Director | |
| www.admenergyplc.com | |
| Cairn Financial Advisers LLP | +44 (0) 20 7213 0880 |
| (Nominated Adviser) | |
| Jo Turner, Liam Murray | |
| Capital Plus Partners Limited | +44 (0) 20 7432 0501 |
(Broker) Jonathan Critchley | |
About ADM Energy PLC
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC) is a natural resources investing company with investments including a 100.0% ownership interest in Vega Oil and Gas, LLC; a 60% economic interest in Eco Oil; a 42% economic interest in OFX Technologies, LLC ( www.ofxtechnologies.com ); a 25% asset interest in Vega Upstream JV, a business established to identify and coordinate investment opportunities in US onshore oil and gas assets; 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.
