ADM Energy plc ( (GB:ADME) ) just unveiled an update.
ADM Energy PLC has announced the posting of a circular to shareholders, seeking approval for a capital reorganisation and a conditional subscription to raise £313,000 through the issuance of new ordinary shares. This move is part of ADM’s strategy to rebuild and grow shareholder value, focusing on cash-generating investments in the United States and considering the divestiture of its interests in the Aje Oil Field. The capital reorganisation aims to adjust the nominal value of shares to facilitate the subscription, which is not contingent on the proposed divestiture.
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 investments that are revenue and cash generative, particularly in the oil and gas sector.
YTD Price Performance: -40.0%
Average Trading Volume: 438,382
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £941.8K
See more data about ADME stock on TipRanks’ Stock Analysis page.