An announcement from ADM Energy plc ( (GB:ADME) ) is now available.
ADM Energy PLC has announced the posting of a circular to shareholders for a general meeting to approve a capital reorganisation and a conditional subscription to raise £313,000 through the issuance of new shares. This move is part of ADM’s strategy to rebuild and grow shareholder value, with recent investments in the US and a potential divestiture of its interest in the Aje Oil Field. The capital reorganisation is intended to adjust the nominal value of shares to facilitate the subscription, which is not contingent on the divestiture. The company aims to use the proceeds from the divestiture to benefit eligible shareholders.
More about ADM Energy plc
ADM Energy PLC is a natural resources investing company with a diverse portfolio including 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. The company focuses on cash-generating investments and is considering divesting its interest in the Aje Oil Field.
YTD Price Performance: -40.0%
Average Trading Volume: 438,382
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £941.8K
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