Appointment of Broker

RNS Number : 2183Z

ADM Energy PLC

09 January 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.

9 January 2020

ADM Energy PLC 

("ADM" or the "Company") 

Appointment of Broker

ADM Energy PLC (AIM:ADME), an oil and gas investing company quoted on AIM, is pleased to announce that Fox-Davies Capital Limited ("Fox-Davies Capital") has been appointed as the Company's Lead Broker, and Fox-Davies Capital DIFC as financial adviser, with immediate effect.

Fox-Davies Capital is a corporate finance broker-dealer specialising in the oil & gas and mining industries with a proven history of raising capital for natural resource companies with assets in Africa.  Having founded a specialist broker-dealer in 2001, Fox-Davies Capital's principals have nearly 20 years' experience advising and rasing capital for natural resource companies.  With a global network that includes relationships in Asia, Australia, the Middle East, Europe, the UK and North America, Fox-Davies Capital can provide ADM with unique market and industry insights.

With offices in London (UK) and Dubai (UAE), Fox-Davies Capital works with corporate clients and institutional investors located around the world.  In addition, Fox-Davies Capital DIFC, which is authorised and regulated by the Dubai Financial Services Authority, specialises in providing strategic advice on acquisitions and capital raising in the Middle East and Asia.

Osamede Okhomina, CEO of ADM, said: "As ADM moves forward to execute on its business plan to build on its exsiting asset base, we are delighted to be working with a specialist broker with a deep knowledge of the industry and the African Markets.  As a broker, Fox-Davies Capital's wide network of relationships with specialist oil investors in Asia, the Middle East, Europe and Africa, will complement the work of our existing advisers and help the Company to maximise its potential."

For further information please contact:

ADM Energy plc	[phone]
Osamede Okhomina, CEO
Cairn Financial Advisers LLP	[phone]
(Nominated Adviser)
Jo Turner, James Caithie
Fox-Davies Capital Ltd	[phone]
(Lead Broker)
Daniel Fox-Davies, Lionel Therond
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% equity investment in the Aje Field, part of OML 113, which covers an area of 835 sq km offshore Nigeria. 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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