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ADM Energy investee company Superdielectrics raises around £13m
StockMarketWire.com
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Resources investor ADM Energy welcomed news that investee company Superdielectrics had raised around £13 million.
Superdielectrics was UK technology business focused on renewable energy storage.
The financing round was closed at a price of £4.50 per share, which valued ADM's holding of 195,000 shares at £877,500.
ADM had in 2017 and 2018 invested a total of £199,875 to acquire its Superdielectrics shares at an average cost per share of £1.025.
'Whilst this is a legacy investment, it is still in line with the company's investing policy to invest in opportunities within the natural resources sector, the oil services, power and energy sectors and in technology opportunities related to these sectors that the directors believe either are of strategic value or represent a significant value opportunity,' ADM Energy said.
'The company is very pleased with the progress of Superdielectrics and its uplift in value and looks forward to monitoring Superdielectrics continued development in the future.'
At 1:15pm: (LON:ADME) share price was -0.05p at 6.45p
Story provided by StockMarketWire.com
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