Last checked at 21 Oct 2020 10:07
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.
21 October 2020
ADM Energy PLC
("ADM" or the "Company")
Superdielectrics Investment Update
ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, provides an update on its investee company Superdielectrics Ltd ("Superdielectrics"), a UK energy technology business with a highly disruptive patented technology which has the potential to help solve the world's renewable energy storage problem.
Superdielectrics, a company in which ADM has a minority interest, has advised the Company that it has recently raised approximately £13 million. The financing round was closed at a price of £4.50 per share, which values ADM's holding of 195,000 shares at £877,500. In 2017 and 2018, ADM invested a total of £199,875 to acquire its Superdielectrics shares at an average cost per share of £1.025.
Superdielectrics is developing high energy density, low cost, low environmental impact electrical energy storage devices that will help create a clean and sustainable global energy and transportation system.
Whilst this is a legacy investment, it is still in line with the Company's investing policy to invest in opportunities within the natural resources sector, the oil services, power and energy sectors and in technology opportunities related to these sectors that the Directors believe either are of strategic value or represent a significant value opportunity. The Company is very pleased with the progress of Superdielectrics and its uplift in value and looks forward to monitoring Superdielectrics continued development in the future.
For more information about Superdielectrics, please visit: https://www.superdielectrics.com/our-technology.html
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 | |
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 PLC (AIM: ADME; BER and FSE: P4JC) is a natural resources investing 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 835km² 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 and route to early cash flow.