REG - ADM Energy PLC - Update on the Proposed Broker Option

Adm EnergyAnnouncement

18/03/2025 09:45

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RNS Number : 1110B  ADM Energy PLC  18 March 2025

18 March 2025

 

 

ADM Energy PLC

 

("ADM" or the "Company")

 

Update on the Proposed Broker Option

 

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resource investing
company, announces that on 14 March 2025, the Company's broker Novum
Securities Limited ("Novum") closed the proposed Broker Option that was
announced in the Circular published on 3 March 2025 (the "Circular"). The
Broker Option was oversubscribed and Novum received subscription orders
representing in aggregate £274,000.

 

In the Circular, the Company announced that, conditional on the Resolutions
being passed at the General Meeting taking place on 21 March 2025, and further
to the Conditional Subscription, the Company and Novum agreed to launch a
broker option to raise up to a further £250,000 for the Company through the
issue of up to 250,000,000 New Ordinary Shares ("Broker Option") at the Issue
Price, in order to provide certain eligible existing shareholders the ability
to participate in the Subscription, in the event they have not had the
opportunity to do so.

 

As at the close of business on 14 March 2025, the Broker Option was
oversubscribed and Novum had received orders representing in aggregate
£274,000. The Company has elected to receive the full amount, above the
indicated £250,000 as set out in the Circular.

The updated details of the Proposed Capital Reorganisation, including the
issue of 274,000,000 New Ordinary Shares ("Broker Option Shares") can be found
below. Admission of the Broker Option Shares and the receipt of funds will be
subject to the completion of the Capital Reorganisation.

The General Meeting is due to be held at the offices of offices of Shakespeare
Martineau LLP at 60 Gracechurch St, London, EC3V 0HR at 12:00 p.m. on 21 March
2025.

 

Capitalised terms in this announcement have the meaning ascribed to them in
the Definitions section of the Circular. The Circular can be found on the
Company's website https://admenergyplc.com/ (https://admenergyplc.com/) .

 

 

Statistics of the Proposed Capital Reorganisation,

Subscription, Broker Option, Investment, Funding Obligation And Debt
Settlements

 

                                                          Value        Number           Nominal
 Subdivision
 Capital Reorganisation Shares following the Subdivision               627,863,811      0.001
 Number of Deferred Shares following the Subdivision                   627,235,947,189  0.001

 Issue of Equity
 Subscription Shares                                                   313,000,000      0.001

 Broker Option Shares                                                  274,000,000      0.001

 Consideration Shares                                                  109,995,000      0.001

 Funding Obligation Shares                                             48,494,000       0.001

 Debt Settlement Shares                                                191,980,000      0.001

 Admission Shares                                                      1,565,332,811    0.001

 Market Capitalisation at the Issue Price                 £1,565,333

 

 

 

Expected Timetable of Events

                                                                                2025

 Publication and posting to Shareholders of the Circular                        03 March

 Latest time for receipt of Forms of Proxy for the General Meeting              12:00 p.m. on 19 March

 General Meeting                                                                12:00 p.m. on 21 March

 Record date for the subdivision and reclassification of the Existing Ordinary  6:00 p.m. on 21 March
 Shares

                                                                                On or around:

 Admission of the Admission Shares                                              8:00 a.m. on 24 March

 CREST accounts credited with the Admission Shares                              Morning of 24 March

 Dispatch of definitive share certificates in respect of the Admission Shares   No later than 07 April

 

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 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

Enquiries:

 

 ADM Energy plc                                       +44 20 7786 3555
 Lord Henry Bellingham, Non-executive Chairman
 www.admenergyplc.com (http://www.admenergyplc.com/)

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

 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 100% interest in Vega Oil and Gas; 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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