ADM Energy PLC's (LON:ADME) Thato Mngomezulu, Head of New Ventures at ADM speaks to Proactive London about the completion of its transaction to acquire an additional 2.25% interest in OML 113.
The company’s stake in the project increases to 4.9% as a result of the transaction. The corresponding profit and cost bearing interests increase to 9.2% and 12.3% respectively.
Mngomezulu also explains their strategy to use their stock as currency which 'this deal demonstrates'.