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ADM Energy completes second phase of funding round

ADM raised £283,000 earlier in the month and intends to raise a further £150,000 for a total funding round of £562,000.

ADM Energy Plc -
ADM owns 5% of the OML 113 licence

ADM Energy Plc (LON:ADME) has completed a second round of funding worth £129,000 through a subscription at 7p per share by Mrs Olanike Olakunmi Anani.

Mrs Anani is already is a shareholder in the Nigerian oil group and her stake in the business rises to 6% following this latest subscription.

ADM raised £283,000 earlier in the month and intends to raise a further £150,000 for a total funding round of £562,000.

The company owns 5% of the producing Aje field on licence OML 113.

Quick facts: ADM Energy Plc

Price: 4.6 GBX

AIM:ADME
Market: AIM
Market Cap: £2.74 m
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