21st Jan 2022 10:38
ADM Energy PLC - London-based natural resource investor - Raises GBP561,000 through a subscription from Optima Resources Holding Ltd, a natural resources investment company based in UAE. Says 51.0 million new ordinary shares issued to Optima Resources, at price of 1.11 pence each. Will represent 20% stake of enlarged share capital. ADM to issue 15.3 million warrants to Optima Resources to subscribe for ordinary shares at an exercise price of 4.5p each, with exercise period of two years.
The funds will be used for general working capital purposes, while ADM assesses investment opportunities. ADM's total enlarged share capital will be made up of 255.5 million shares.
Osamede Okhomina, ADM Chief Exeuctive Officer, said: "We are pleased to secure funding from a new long-term shareholder, which will be used to continue to assess several prospects."
Current stock price: 1.05 pence, up 14% on Friday
12-month change: down 80%
By Elizabeth Winter; [email protected]
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