Information  X 
Enter a valid email address

ADM Energy PLC (ADME)

  Print   

Tuesday 18 May, 2021

ADM Energy PLC

Further re: ADM cooperation agreement with DBI

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


 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
FURAPMLTMTTBMLB

a d v e r t i s e m e n t