ADM Energy PLC Further re: ADM cooperation agreement with DBI (9998Y)
18 May 2021 - 07:34PM
UK Regulatory
TIDMADME
RNS Number : 9998Y
ADM Energy PLC
18 May 2021
18 May 2021
ADM Energy PLC
("ADM" or the "Company")
Further re: ADM cooperation agreement with Dubai Bridge
Investments
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural
resources investing company, notes comments made in the press in
respect of Dubai Bridge Investments LLC ("DBI") and provides
further information on DBI and the collaboration agreement
announced on 14 October 2020.
DBI was incorporated in 2013 by Zubair Abdur-Razzaq Al Zubair
and describes itself as a sector agnostic, Dubai-based investment
vehicle. Mr Al Zubair was formerly a Partner and CEO of AWGAL
Investments, the Dubai-based private investment vehicle of Mr
Abdulwahab Galdari, where he oversaw a number of investments in the
leisure, hospitality and property sectors. Since his time at AWGAL
Investments, Mr Al Zubair has been involved with financing
opportunities in the natural resources and energy sectors.
Mr Al Zubair is not connected to the Al Zubair family in Oman
and is a US citizen with business interests in the United Arab
Emirates and the US. The Company has been advised that the use of
the title His Excellency by Mr Al Zubair relates to social and
cultural adoption rather than it having been awarded in connection
with a senior governmental, or such other, position.
ADM's intention is to continue to target undervalued producing
or proven but undeveloped investment opportunities principally in
sub-Saharan Africa. In this regard, DBI has expressed an interest
in introducing funds into several projects considered by ADM. It is
likely that any funds introduced would be at a project level and,
in the event that ADM and DBI were to proceed with an investment
opportunity, this would be subject to separate agreement,
satisfactory conclusion of due diligence and confirmation of
funding at the time. No funds have been introduced by DBI to date
and no charges have been paid to DBI by the Company.
There is no certainty that any funds will be provided or
introduced by DBI for investment opportunities that ADM is
considering.
Enquiries:
ADM Energy plc +44 20 7459 4718
Osamede Okhomina, CEO
www.admenergyplc.com
Cairn Financial Advisers LLP +44 20 7213 0880
(Nominated Adviser)
Jo Turner, James Caithie
Arden Partners plc +44 20 7614 5900
(Lead Broker)
Paul Shackleton, Daniel Gee-Summons
Hybridan LLP +44 20 3764 2341
(Joint Broker)
Claire Louise Noyce
ODDO BHF Corporates & Markets AG +49 69 920540
(Designated Sponsor)
Michael B. Thiriot
Luther Pendragon +44 20 7618 9100
(Financial PR)
Harry Chathli, Alexis Gore, Joe Quinlan
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END
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