Last checked at 22 Jul 2020 07:00
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.
22 July 2020
ADM Energy PLC
("ADM" or the "Company")
Directorate Changes
Dr Stefan Liebing, Chairman of the German-African Business Association, joins ADM Energy
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, is pleased to announce the appointment of Dr Stefan Liebing to the Board of Directors with immediate effect. In addition, Sergio Lopez, Non-executive Director, is stepping down from the Board to pursue other business interests.
Dr Stefan Liebing is the Chairman of Afrika-Verein der deutschen Wirtschaft e.V., the prestigious German-African Business Association, where as part of his role, he advises the German Government on investment in Africa. He chaired the G20 Compact with Africa investment summits in 2018 and 2019, held under the patronage of Chancellor Angela Merkel. Dr Liebing is the CEO of Conjuncta GmbH, a boutique investment and project development company. Previously, Dr Liebing was a Director of International Gas Business at EnBW Energie Baden-Wuerttemberg AG, one of the largest energy supply companies in Europe, and earlier in his career held various senior positions at Royal Dutch Shell.
Peter Francis, Non-executive Chairman of ADM, said: "It is a great pleasure to welcome Dr Liebing to ADM Energy. We are assembling a Board and management team with the expertise and calibre to match the ambition of the Company. ADM is entering a busy period as it plans to close deals and expand its investments in projects across Nigeria and West Africa. The addition of Stefan, who has chaired global economic and investment forums, will prove invaluable as we grow the Company.
"On behalf of the Board we would like to extend our thanks to Sergio for his valuable contribution to ADM over the years and we wish him well in the future."
On his appointment, Dr Stefan Liebing commented: "ADM Energy has a driven team with a clear strategy and impressive plans to grow the business. With its focus in West Africa and recent listing in Germany, my experience of the industry and investment in Africa, as well as my contacts within the German investment community, complements the rest of the team and I look forward to helping ADM grow."
The newly appointed director is currently or has been a director of the following companies within the previous five years:
Director | Current directorships/partnerships | Past directorships/partnerships
|
Dr. Stefan Liebing (43) | AT Africa Technology GmbH Conjuncta GmbH | AEE Power GmbH JCM Germany Solar GmbH |
There is no further information required to be disclosed pursuant to Schedule Two, paragraph (g) of the AIM rules.
Enquiries:
ADM Energy plc | +44 20 7786 3555 |
Osamede Okhomina, CEO | |
www.admenergyplc.com | |
Cairn Financial Advisers LLP | +44 20 7213 0880 |
(Nominated Adviser) | |
Jo Turner, James Caithie | |
Hybridan LLP | +44 20 3764 2341 |
(Lead Broker) | |
Claire Louise Noyce | |
Pello Capital Limited | +44 20 3700 2500 |
(Joint Broker) | |
Dan Gee | |
Oddo Seydler Bank 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 (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 858km² offshore 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.