Dear client
We have been notified that the ADM Energy PLC has proposed Capital Reorganisation and conditional Subscription require the Company to reduce the nominal value of its ordinary shares, as the current share price is below their nominal value. It is expected that Admission of the Admission Shares will become effective and that dealings in the Admission Shares will commence at 8:00 a.m. on 24 March 2025.
The foundation upon which ADM will grow shareholder value comprises two investments in the United States of America (the "US Investments") both of which are revenue and cash generative:
1. JKT Reclamation, LLC ("JKT") in which the Company acquired a 30.6% economic interest effective 1 January 2024 (announced on 8 April 2024); and,
2. Vega Oil and Gas, LLC ("Vega") in which the Company acquired a 100.0% equity interest effective 1 June 2024 (announced on 26 June 2024).
The Company is also proposing to change its name to "Vega Energy PLC.
Conditional on the Resolutions being passed at the General Meeting, the Company has raised £313,000 via a Subscription for 313,000,000 New Ordinary Shares at a subscription price of £0.001 (0.1 pence) per New Ordinary Share (the "Subscription Shares") ("Conditional Subscription"). The Subscription has been undertaken with new and existing shareholders participating.
Please see link to the original notification received: https://www.londonstockexchange.com/news-article/ADME/replacement-posting-of-circular-and-notice-of-gm/16922996
There are currently no shareholders on the platform.
Kind regards
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