Less Ads, More Data, More Tools Register for FREE

Pin to quick picksADAM.L Share News (ADAM)

  • There is currently no data for ADAM

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Adamas Finance gets another $0.75m from Global Pharm

Mon, 15th Jun 2015 12:59

Adamas Finance Asia said on Monday that it has received a further payment of $0.75m from Global Pharm Holdings Group following the sale of its interest in the company.In May, Adamas updated the market on the disposal of its interest in Global Pharm, saying it had received $0.75m. Under the redemption agreement announced in December 2014, Adamas was due to receive an initial payment of $2.4m on 31 December 2014, a further $9n on 31 March 2015 and a final payment of $13.6m on 30 April 2015.The initial payment was received, but the second and third payments were not made in accordance with the agreement."The company has now received two payments of $0.75 million which have been offset against the $9 million which was due on 31 March 2015," said Adamas. "Overdue amounts from the two payments due on 31 March 2015 and 30 April 2015 are subject to penalty interest of 26% per annum, compounded on a daily basis."It said that the company's investment manager, Adamas Global Alternative Investment Management is in discussions with Global Pharm to resolve the matter and negotiate a revised redemption schedule.
More News
6 Jun 2014 11:32

Adamas Finance Asia Loss Narrows As It Enters New Phase

LONDON (Alliance News) - Adamas Finance Asia Ltd Friday reported an increase in its net asset value and a narrower loss in its last financial year. In a statement, Adamas Finance Asia, which changed its name from China Private Equity Investment Holdings Ltd after a reverse takeover in Febru

Read more
28 May 2014 10:11

Adamas Investment Makes Profitable Exit From Project

LONDON (Alliance News) - Adamas Finance Asia Ltd Wednesday said an investment fund in which it invested USD500,000 in April 2014 has achieved a gross internal rate of return from a newly exited project. In a statement, Adamas said that BRJ China Credit Fund Ltd's exit from Project Renheng c

Read more
29 Apr 2014 12:13

Adamas Finance Asia Says BRJ China Credit Fund Achieves Strong Exit

LONDON (Alliance News) - Adamas Finance Asia Ltd Tuesday said an investment fund in which it invested USD500,000 earlier this month has achieved a gross internal rate of return of 31.83% from a newly-exited project, Project Changlelu. BRJ China Credit Fund Ltd was launched in August 2013 by

Read more
9 Apr 2014 10:09

Adamas Finance Asia To Invest USD500,000 Into Investment Fund

LONDON (Alliance News) - Adamas Finance Asia Ltd Wednesday said it has agreed to invest USD500,000 into an investment fund launched by Adamas Asset Management HK Ltd, the Hong Kong-based investment management firm which has been acting as its investment manager. The fund is an investment ve

Read more
1 Apr 2014 12:18

Adamas Gets First Dividend Distribution From Greater China Credit Fund

LONDON (Alliance News) - Adamas Finance Asia Ltd said Tuesday that it had received its first dividend distribution of USD75,300 from its investment in the Greater China Credit Fund. The fund is an investment vehicle established by Hong Kong-based Adamas Asset Management Ltd, which became Ad

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.