Last checked at 23 Aug 2019 07:00
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.
23 August 2019
ADM Energy plc
("ADM Energy" or the "Company")
Holdings in Company
ADM Energy plc, an oil and gas investing company quoted on AIM, announces that it has been notified that His Highness Sheikh Ahmed Bin Dalmook Al Maktoum has resigned from his non-Board role as President of ADM Energy with immediate effect.
As part of the process of stepping down from the position, the Company has today been informed that His Highness has, or shortly will have, disposed of all of his shareholding in the Company, comprising 13,350,000 ordinary shares, through the market.
Osamede Okhomina, Chief Executive Officer, commented, "His Highness' departure has no material impact to the implementation of our business plan. We are grateful for his financial support which has helped the Company get to this exciting juncture. We have recently raised further investment funds which will assist us in exploring a number of opportunities. Production at our Aje investment remains stable such that we expect to be advised of a further lifting of oil shortly and performance remains in-line with our expectations. I look forward to updating the market in due course."
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Enquiries:
ADM Energy plc | +44 20 7786 3555 |
Osamede Okhomina, Chief Executive Officer | |
Cairn Financial Advisers LLP | +44 20 7213 0880 |
(Nominated Adviser) | |
Jo Turner, James Caithie | |
Pello Capital Limited | +44 20 3700 2500 |
(Broker) | |
Dan Gee | |
Luther Pendragon | +44 20 7618 9100 |
(Financial PR) Harry Chathli, Alexis Gore, Joe Quinlan | |