Temporary Suspension

ADM Energy PLC

27 June 2024

 

27 June 2024

ADM Energy PLC

("ADM" or the "Company")

     Temporary Suspension of trading on AIM pending publication of 2023 Annual Report & Accounts

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resource investing company, provides the following update in relation to its Annual Report and Financial Statements for its financial year ended 31 December 2023 (the "2023 Annual Report").

Pursuant to Rule 19 of the AIM Rules for Companies (the "AIM Rules"), the Company is required to publish its 2023 Annual Report by 30 June 2024. The Company confirms, however, that the investments made by the Company in the US, which were announced during and post year end, have resulted in a delay in the expected timetable and the auditors require additional time to complete their audit.

Accordingly, the Company no longer expects to be able to publish the 2023 Annual Report by 30 June 2024.  The Company is now targeting the publication of the 2023 Annual Report before end of August 2024.

Trading in the Company's ordinary shares on AIM will be suspended with effect from 7.30 a.m. on 1 July 2024, pending publication of its 2023 Annual Report and Accounts. Suspension from trading is expected to be lifted with the publication of the 2023 Annual Report in due course.

The Company will continue to make announcements regarding any developments that need to be disclosed in accordance with its obligations under the AIM Rules, whilst the temporary suspension is in place.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service , this inside information is now considered to be in the public domain.

Enquiries:

ADM Energy plc	[phone]
Stefan Olivier, Chief Executive Officer
www.admenergyplc.com
Cairn Financial Advisers LLP	[phone]
(Nominated Adviser)
Jo Turner, James Caithie
ODDO BHF Corporates & Markets AG	[phone]
(Designated Sponsor)
Michael B. Thiriot
Gracechurch Group	[phone]
(Financial PR)
Harry Chathli, Alexis Gore, Henry Gamble

About ADM Energy PLC

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC) is a natural resources investing company with investments including a 30.6% economic interest in JKT Reclamation, LLC; a 46.8% economic interest in OFX Technologies, LLC (www.ofxtechnologies.com); and a 9.2% profit interest in the Aje Field, part of OML 113, which covers an area of 835km² offshore Nigeria. Aje has multiple oil, gas, and gas condensate reservoirs in the Turonian, Cenomanian and Albian sandstones with five wells drilled to date.   

Forward Looking Statements

Certain statements in this announcement are, or may be deemed to be, forward-looking statements. Forward looking statements are identified by their use of terms and phrases such as "believe", "could", "should", "envisage'', "estimate", "intend", "may", "plan", "potentially", "expect", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward-looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

END