공고 • May 02
ADM Energy plc has completed a Follow-on Equity Offering in the amount of £0.375 million. ADM Energy plc has completed a Follow-on Equity Offering in the amount of £0.375 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,875,000,000
Price\Range: £0.0002
Transaction Features: Subsequent Direct Listing 공고 • May 22
ADM Energy plc Announces First Production At Altoona Lease ADM Energy PLC announced the initiation of production at the SPI-1 well at the Altoona Lease, Kern County, California (the "Lease"). Investment Update On 17 April 2025, the Company announced that the Board had decided to transfer the ownership of the Lease to its 100% owned investee company Vega Oil and Gas LLC ("VOG"), as a part of an investment restructuring to better manage the Company's onshore U.S. oil and gas investments. Further to the announcement, the Company has invested USD 100,000 to buy out the underlying oil and gas lease from the previous lease holder (the participation of the Company was previously via farm-in). The purchase of the lease includes in-place equipment and infrastructure including five new pump jacks and a new 150-barrel storage tank. Following completion of the investment, the SPI-1 well was put into production on 18 April 2025. As of 16 May 2025, the SPI-1 well has now produced approximately 90 barrels of oil or an average of approximately 3 barrels per day. The initial USD 150,000 of the USD 750,000 total sum from the farm-out consortium has been escrowed and will be used to fund the remainder of Phase 1. VOG is currently working with its partners to plan Phase 2 of the work program which will consist of the deepening of two wells in order to test deeper potential pay zones that are also currently producing in a neighbouring lease that is operated by Chevron (USA). As noted in the announcement on 17 April 2025, the remaining USD 600,000 has been deposited into escrow and will be released upon completion of necessary pre-drill regulatory and technical work, and will be utilised to facilitate Phase 2. 공고 • Feb 22
ADM Energy plc Announces Chief Executive Officer changes ADM Energy plc announced that, effective immediately, Stefan Olivier has resigned from his role as Chief Executive Officer of the Company. The Company has agreed that it intends to appoint Randall Connally to the Board of the Company as Executive Director and Chief Executive Officer, subject to the completion of the required due diligence and regulatory checks. 공고 • Feb 21
ADM Energy plc Announces Board Changes ADM Energy plc announced that, effective immediately, Stefan Olivier has resigned from his role as Executive Director of the Company. The Company has agreed that it intends to appoint Randall Connally to the Board of the Company as Executive Director, subject to the completion of the required due diligence and regulatory checks. A further announcement will be made in due course. Further to Stefan Olivier's resignation, Claudio Coltellini, age 52 a former director of the Company, has been appointed as a Non-executive Director of the Company. Claudio Coltellini joined the Board in April 2023 and resigned from his role as a Director in December 2024 to focus on other projects. Claudio Coltellini has be reappointed as a Director of the Company to assist with the Company's focus on its two U.S investee companies; JKT Reclamation, LLC (‘JKT’), and Vega Oil and Gas, LLC (‘Vega’), and support the Company in light of the changes to the Board. As announced on 25 April 2023, Claudio Coltellini is an Italian citizen and now resides with his family in the state of Florida, U.S. Prior to working in the U.S. onshore oil and gas sector, he joined Deutsche Bank where he worked for seven years. He has invested in the U.S. oil and gas sector for approximately 17 years and has held roles as CEO of several private U.S. oil and gas companies focused on investment in the states of Texas, California, Kansas and Louisiana. Information on Claudio Coltellini pursuant Schedule Two, paragraph (g) of the AIM Rules for Companies Current Directorships /Partnerships: ADM Energy USA, Inc; Atlantic Bridge Energy, Inc; Golem Consulting and Service, LLC; OFX Holdings, LLC; Partners & Friends Holding Corp; Partners & Friends Holding Corp; Tex Oil LLC; US Oil Consulting, LLC: Wyoming jurisdiction; Texas jurisdiction. Past Directorships /Partnerships (within the last five years): ADM Energy plc; Euramerica Acquisition Fund, LLC; Euramerica Management, LLC; Euramerica Petroleum Corp; Stradivari Oil, LLC; Tego Oil LLC. 공고 • Dec 17
ADM Energy PLC Announces Directorate Change ADM Energy PLC announced that Claudio Coltellini, a Non-executive Director of the Company, has stepped down from the Board of the Company effective immediately to pursue other opportunities. Mr. Coltellini is a director of OFX Holdings, LLC, a Texas limited liability company and substantial shareholder of the Company. Following the resignation of Mr. Coltellini, the Board of Directors of the Company will consist of three members with two independent directors. New Risk • Jul 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 70% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue has declined by 96% over the past year. Shareholders have been substantially diluted in the past year (70% increase in shares outstanding). Revenue is less than US$1m (UK£62k revenue, or US$79k). Market cap is less than US$10m (€3.15m market cap, or US$3.42m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 6.5% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m (UK£62k revenue, or US$77k). Market cap is less than US$10m (€2.03m market cap, or US$2.16m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). New Risk • Apr 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 6.5% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m (UK£62k revenue, or US$78k). Market cap is less than US$10m (€2.03m market cap, or US$2.18m). 공고 • Nov 09
ADM Energy plc Announces Board Changes ADM Energy PLC announced the appointment of Lord Henry Bellingham as Chairman of the Board of Directors of ADM Energy plc and the resignations of Oliver Andrews and Richard Carter. Lord Bellingham has served as a non-executive director of the Company since July 2020 and has enjoyed a distinguished Parliamentary career of almost 40 years and held a number of senior positions including: Foreign Office Minister for Africa, The UN, Caribbean, Overseas Territories and Conflict Issues; Chairman of the Westminster Foundation for Democracy; Chairman of the All-Party Group on the Commonwealth; and the Prime Minister`s Trade Envoy to Libya. In 2016, he was Knighted in the New Year Honours list for Parliamentary and Political Service. He sits in the House of Lords after being awarded a Life Peerage in 2020. In addition to his Parliamentary career, Lord Bellingham has held five former non-executive roles for AIM companies, and this includes chairing Pathfinder Minerals plc. He is also currently chairman of four private companies. Prior to entering Parliament, Lord Bellingham practised as a barrister having graduated from Magdalene College, Cambridge with a master's degree in Law. The appointment of Lord Bellingham follows the anticipated resignation, which had been planned since early 2023, of Mr. Oliver Andrews as Chairman of the Board, a position he has held since 2 August 2021. Mr. Andrews, who is resigning to focus on other endeavours, has provided steady guidance to the Board and Company during 2023 as the Company has transitioned its management team and diversified to include oil and gas assets in the USA. Additionally, Mr. Andrews has supported the Company financially, including investing US$100,000 in the Secured Convertible Loan Note announced in the RNS dated 25 May 2023. Mr. Richard Carter, an executive director of the Company since 26 July 2016, has also resigned to pursue other opportunities. Mr. Carter has played an important role with the Company's investment in Aje as well as providing guidance to the company as it has diversified. The appointment of Lord Bellingham and the resignation of Mr. Andrews is with effect from 8 November 2023 and the resignation of Mr. Carter will be with effect from 1 December 2023 to allow an orderly transition of affairs for the Company. With the resignations of Mr. Andrews and Mr. Carter, the Board will be reduced from six directors to four. Reported Earnings • Oct 02
First half 2023 earnings released: UK£0.001 loss per share (vs UK£0.003 loss in 1H 2022) First half 2023 results: UK£0.001 loss per share (improved from UK£0.003 loss in 1H 2022). Net loss: UK£460.0k (loss narrowed 45% from 1H 2022). New Risk • Jun 28
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: UK£662k (US$840k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£981k free cash flow). Share price has been highly volatile over the past 3 months (34% average weekly change). Earnings have declined by 8.1% per year over the past 5 years. Revenue is less than US$1m (UK£662k revenue, or US$840k). Market cap is less than US$10m (€2.04m market cap, or US$2.23m). Minor Risk Shareholders have been diluted in the past year (45% increase in shares outstanding). Reported Earnings • Jun 28
Full year 2022 earnings released: UK£0.008 loss per share (vs UK£0.016 loss in FY 2021) Full year 2022 results: UK£0.008 loss per share (improved from UK£0.016 loss in FY 2021). Net loss: UK£2.12m (loss narrowed 17% from FY 2021). 공고 • Jun 27
ADM Energy plc, Annual General Meeting, Jul 25, 2023 ADM Energy plc, Annual General Meeting, Jul 25, 2023, at 09:00 Coordinated Universal Time. Location: Shakespeare Martineau, 60 Gracechurch St, London EC3V 0HR London United Kingdom Board Change • May 03
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). COO & Executive Director Richard Carter is the most experienced director on the board, commencing their role in 2016. Independent Non-Executive Director Henry Bellingham was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.