- ADM Energy said it had entered into agreements to raise £832,000 before expenses from Zark Capital and other investors.

The company intended to raise £832,000 issuing 11,885,713 new ordinary shares. The subscription included a £269,640 subscription by Zark, an independent fixed income boutique firm based in London, through the issue of 3,852,000 shares at 7p per, further £150,360 subscription by Zark through the issue of 2,148,000 shares; a £412,000 subscription from other investors through the issue of 5,885,713.

'Conditional upon shareholder approval, up to 14,874,601 warrants will be issued to investors, with an exercise price of 8p per share,' the company said.

Following the issue of the initial subscription shares, Zark would hold 3,852,000 shares, representing 7.18% of the company's enlarged issued share capital.

At 9:27am: [LON:ADM] Admiral Group PLC share price was +23.5p at 2123.5p

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