(Alliance News) - Adamas Finance Asia Ltd said Tuesday it has placed 1.3 million shares with a syndicate of three third-party investors.
The placing was priced at GBP0.161 per share, raising a total of GBP203,504.
Chair John Croft said: "Pursuant to the company's share buyback announcement in December, I am pleased to announce the successful placing by the company of shares with third-party long-term investors in the company at the same price that the company acquired the shares.
"This placing successfully concludes the previously announced placing that the company planned to complete, and the remaining shares will continue to be held in treasury by the company. This placing underlines the strength of investor support for the significant opportunities offered by Adamas's strategy to deliver further shareholder value."
Adamas has 104.9 million shares in issue, including the 2.1 million held in treasury.
Shares in Adamas Finance Asia were untraded in London on Tuesday but last closed at 25.00 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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