Secondary Listing on Berlin and Frankfurt Exchange

RNS Number : 1177R

ADM Energy PLC

25 June 2020

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.  UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

25  June 2020

ADM Energy PLC 

("ADM" or the "Company") 

Secondary Listings on the Berlin Stock Exchange and Frankfurt Stock Exchange

ADM Energy PLC (AIM: ADME), an oil and gas investing company quoted on AIM, is pleased to announce that it has successfully applied for secondary listings of all the Company's ordinary shares of 1 pence each ("Ordinary Shares") on the Quotation Board Segment of the Open Market of the Berlin Stock Exchange ("BER") and Frankfurt Stock Exchange ("FSE"). Trading commenced at 9am CET on 25 June 2020.  

The Board's decision to list ADM's shares on the Berlin and Frankfurt stock exchanges is part of the Company's strategy to broaden its shareholder base and channels to future financing. Earlier this year, management conducted an investor marketing programme in Germany and received highly encouraging feedback and interest from prospective institutional investors. The Board therefore believes the secondary listings will now help to further increase the visibility of ADM and ease of access to its shares in both Germany as well as continental Europe.

The Ordinary Shares (ISIN: GB00BJFDXW97) have been admitted to trading on the BER under ticker P4JC and on the FSE under ticker P4JC. These new listings do not affect the trading of the Company's shares on AIM. 

Osamede Okhomina, Chief Executive Officer of ADM Energy, said: "We have been actively looking at ways to complement the shareholder base built though our AIM listing in order to broaden ADM's shareholder register and options for future funding requirements. Our decision to list ADM's shares on the German börses has been led by the exciting level of interest received from a host of German investors, who had an excellent understanding of the opportunities that exist in Africa, specifically in the oil and gas sector.

"We have a strong growth strategy centred around our core oil producing asset in OML 113 offshore Nigeria and are confident that the new listings will enable us to progress this strategy to the benefit of all our investors."

Enquiries:

ADM Energy plc	[phone]
Osamede Okhomina, CEO
www.admenergyplc.com
Cairn Financial Advisers LLP	[phone]
(Nominated Adviser)
Jo Turner, James Caithie
Hybridan LLP	[phone]
(Lead Broker) Claire Louise Noyce
Pello Capital Limited	[phone]
(Joint Broker)
Dan Gee
Luther Pendragon	[phone]
(Financial PR) Harry Chathli, Alexis Gore, Joe Quinlan

About ADM Energy PLC

ADM Energy (AIM: ADME) is a natural resources investment company with an existing asset base in Nigeria. ADM Energy holds a 5% profit interest in the Aje Field, part of OML 113, which covers an area of 858km²offshore Nigeria, and in February 2020 entered into an agreement with EER (Colobos) Nigeria Limited to acquire a further 4.2% profit interest. Aje has multiple oil, gas and gas condensate reservoirs in the Turonian, Cenomanian and Albian sandstones with five wells drilled to date.

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, route to early cash flow and exploration upside.

 

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