LONDON (Alliance News) - Adamas Finance Asia Ltd Wednesday said it has been informed by its investment manager that there will be a delay in the receipt of USD9 million due from the sale of Global Pharm Holdings Group Inc.
Adamas said its investment manager, Adamas Global Alternative Investment Management Inc, is in talks with Global Pharm to resolve the matter and will negotiate a revised redemption schedule. The funds had been due on March 31.
Adamas Finance shares were untraded Wednesday, having last traded at 0.735 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.