ADM Energy PLC Disposal of Interest in Superdielectrics (2153Z)
20 May 2021 - 4:00PM
UK Regulatory
TIDMADME
RNS Number : 2153Z
ADM Energy PLC
20 May 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF
DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT
2018). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
20 May 2021
ADM Energy PLC
("ADM" or the "Company")
Disposal of Interest in Superdielectrics
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural
resources investing company, is pleased to announce that it has
completed the sale of 188,778 shares in Superdielectrics Ltd
("Superdielectrics") for a total consideration of GBP849,501, a
profit of GBP656,003.55 on ADM's original investment.
In 2017 and 2018, ADM invested a total of GBP199,875 to acquire
195,000 shares in Superdielectrics at an average cost per share of
GBP1.025. Superdielectrics' most recent funding round in October
2020 at a price of GBP4.50 per share, valued ADM's holding at
GBP877,500, representing a total book profit of GBP677,625 and an
increase in value of approximately 340%. The Board approved the
sale of 188,778 shares at a price of GBP4.50 per share to
shareholders of Superdielectrics, leaving ADM with a holding of
6,222 shares following the sale. ADM has received the proceeds from
the sale of the investment.
Osamede Okhomina, CEO of ADM Energy plc, said: "We are delighted
to complete this successful transaction with an excellent return on
our investment. The proceeds of the sale, together with our recent
fundraise, will be used to support our growth strategy as we
advance our current assets at Aje and the Barracuda Field, while
continuing to identify and pursue new projects that can bring value
to the Company. In line with ADM's investment strategy, the Company
is open to considering further renewable energy investments in
future, such as solar and wind power projects."
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
About ADM Energy PLC
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC) is a natural
resources investing company with an existing asset base in Nigeria.
ADM Energy holds a 9.2% profit interest in the oil producing Aje
Field, part of OML 113, which covers an area of 835km(2) offshore
Nigeria. Aje has multiple oil, gas, and gas condensate reservoirs
in the Turonian, Cenomanian and Albian sandstones with five wells
drilled to date.
The Company also holds an investment in the development of the
Barracuda Field, an existing discovery and near-term production
asset in OML 141, which covers 1,295 km(2) in the swamp/shallow
waters of the Niger Delta. Four existing wells have been drilled to
date and a fifth is intended to be drilled in Q4 2021.
ADM Energy is seeking to build on its existing asset base in
Nigeria and target other investment opportunities across the West
African region in the oil and gas sector with attractive risk
reward profiles such as proven nature of reserves, level of
historic investment, established infrastructure and route to early
cash flow.
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