Business and Economy

#BusinessNews: ADM Energy Plc completes sale of 188,778 units of shares in Superdielectrics Ltd

ADM Energy PLC has announced that it has completed the sale of 188,778 shares in Superdielectrics Ltd for a total consideration of £849,501, a profit of £656,003.55 on ADM’s original investment.

In 2017 and 2018, ADM invested a total of £199,875 to acquire 195,000 shares in Superdielectrics at an average cost per share of £1.025. Superdielectrics’ most recent funding round in October 2020 at a price of £4.50 per share, valued ADM’s holding at £877,500, representing a total book profit of £677,625 and an increase in value of approximately 340%. 

The Board approved the sale of 188,778 shares at a price of £4.50 per share to shareholders of Superdielectrics, leaving ADM with a holding of 6,222 shares following the sale. ADM has received the proceeds from the sale of the investment.

Osamede Okhomina, CEO of ADM Energy plc, said: “We are delighted to complete this successful transaction with an excellent return on our investment. The proceeds of the sale, together with our recent fundraise, will be used to support our growth strategy as we advance our current assets at Aje and the Barracuda Field, while continuing to identify and pursue new projects that can bring value to the Company. In line with ADM’s investment strategy, the Company is open to considering further renewable energy investments in future, such as solar and wind power projects.”

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