REG - ADM Energy PLC - Temporary Suspension

Adm EnergyAnnouncement

27/06/2024 14:30

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RNS Number : 2033U  ADM Energy PLC  27 June 2024

 

 

27 June 2024

 

 

ADM Energy PLC

 

("ADM" or the "Company")

 

 

     Temporary Suspension of trading on AIM pending publication of 2023
Annual Report & Accounts

 

 

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resource investing
company, provides the following update in relation to its Annual Report and
Financial Statements for its financial year ended 31 December 2023 (the "2023
Annual Report").

Pursuant to Rule 19 of the AIM Rules for Companies (the "AIM Rules"), the
Company is required to publish its 2023 Annual Report by 30 June 2024. The
Company confirms, however, that the investments made by the Company in the US,
which were announced during and post year end, have resulted in a delay in the
expected timetable and the auditors require additional time to complete their
audit.

Accordingly, the Company no longer expects to be able to publish the 2023
Annual Report by 30 June 2024.  The Company is now targeting the publication
of the 2023 Annual Report before end of August 2024.

Trading in the Company's ordinary shares on AIM will be suspended with effect
from 7.30 a.m. on 1 July 2024, pending publication of its 2023 Annual Report
and Accounts. Suspension from trading is expected to be lifted with the
publication of the 2023 Annual Report in due course.

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.

 

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                                       +44 7495 779520
 Stefan Olivier, Chief Executive Officer
 www.admenergyplc.com (http://www.admenergyplc.com/)

 Cairn Financial Advisers LLP                         +44 20 7213 0880
 (Nominated Adviser)
 Jo Turner, James Caithie

 ODDO BHF Corporates & Markets AG                      +49 69 920540
 (Designated Sponsor)
 Michael B. Thiriot

 Gracechurch Group                                    +44 20 4582 3500
 (Financial PR)
 Harry Chathli, Alexis Gore, Henry Gamble

 

About ADM Energy PLC

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC) is a natural resources investing
company with investments including a 30.6% economic interest in JKT
Reclamation, LLC; a 46.8% economic interest in OFX Technologies, LLC
(www.ofxtechnologies.com (http://www.ofxtechnologies.com) ); 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.

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