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The latest update is out from ADM Energy plc ( (GB:ADME) ).
ADM Energy PLC announced significant changes in its board with the resignation of Stefan Olivier as CEO, and the anticipated appointment of Randall Connally, pending necessary checks. Claudio Coltellini, a former director, returns as a Non-executive Director to help focus on U.S. investments and stabilize the company during this transitional phase. The company, which is operating under constrained working capital conditions, secured a £120,000 financing package from major shareholder OFX Holdings to meet immediate obligations. This financing, structured as a 12-month loan, is expected to sustain working capital needs until June 2025, highlighting ongoing financial challenges and the need for continued support from creditors and stakeholders.
More about ADM Energy plc
ADM Energy PLC is a natural resources investing company, holding a 100% interest in Vega Oil and Gas, a 30.6% economic interest in JKT Reclamation, LLC, a 46.8% economic interest in OFX Technologies, LLC, and a 9.2% profit interest in the Aje Field, offshore Nigeria.
YTD Price Performance: -30.0%
Average Trading Volume: 479,282
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £1.1M
For detailed information about ADME stock, go to TipRanks’ Stock Analysis page.
