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The latest announcement is out from ADM Energy plc ( (GB:ADME) ).
ADM Energy PLC has converted several outstanding fees and liabilities into equity, issuing a total of more than 430 million new ordinary shares at 0.1 pence each to settle payments owed to advisers, a director-owned consultancy, board members, and certain U.S. subsidiary employees. The move reduces cash outflows but significantly dilutes existing shareholders, and the new shares, together with previously announced structuring and consideration shares, will bring the company’s issued share capital to about 2.56 billion shares once admitted to trading on AIM, clarifying total voting rights and formalising multiple related-party transactions deemed fair and reasonable by the board’s independent directors.
More about ADM Energy plc
ADM Energy PLC is a natural resources investing company listed on AIM in London and in Frankfurt, with a portfolio spanning oil and energy-related assets in the U.S. and Nigeria. Its interests include Vega Oil and Gas and the Altoona Lease in California, stakes in Eco Oil Disposal and related JKT entities, OFX Technologies and Efficient Oilfield Solutions, and a profit interest in the offshore Aje Field in Nigeria.
Average Trading Volume: 19,841,031
Technical Sentiment Signal: Sell
Current Market Cap: £561.2K
For a thorough assessment of ADME stock, go to TipRanks’ Stock Analysis page.