12 Aug 2020 08:26
RNS Reach
ADAMAS FINANCE ASIA LIMITED
("ADAM" or the "Company")
Asset Overview: Meize Energy Industries Holdings Limited
Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle focused on providing shareholders with attractive uncorrelated, risk adjusted long-term returns, is pleased to make the following announcement regarding its portfolio assets, Meize Energy Industries Holdings Limited ("Meize Energy").
Swift Wealth Investments Limited, a 100% (2018: 100%) owned subsidiary of the Company incorporated in the British Virgin Islands, holds a 7.2% stake in Meize through a redeemable preference share structure.
Meize Energy is one of the largest wind turbine design and wind turbine blade manufacturing companies in China producing internationally certified blades used in wind power generation.
Meize Energy's production facilities are located in Ningxia and Inner Mongolia, primarily producing onshore wind turbine blades. A new production facility has recently been established in Jiangsu. The new production facility is estimated to produce 400 sets of wind turbine blades per annum at full capacity and produces offshore wind turbine blades
Several of the most significant wind energy companies in China deploy Meize Energy wind turbine blades, including Dongfang Electric Corporation, a publicly traded wind energy business. The market is underpinned by inelastic demand, mainly due to Chinese Government support in the form of subsidies, which management believe benefit the long-term prospects of the sector.
For the avoidance of doubt, this RNS contains information already in the public domain, which can be found in the Company's latest annual report and accounts.
For further information, please visit the Company's website at http://adamasfinance.com and follow the Company on Twitter (@AdamasFinance).
FOR FURTHER INFORMATION, PLEASE CONTACT:
Adamas Finance Asia Limited | +44 (0) 778 531 5588 |
John Croft | |
WH Ireland Limited - Nominated Adviser | +44 (0) 20 7220 1666 |
James Joyce | |
James Sinclair Ford | |
Pello Capital Limited - Joint Corporate Broker | +44 (0) 20 3700 2500 |
Mark Treharne | |
Maitland/AMO - Communications Advisor | +44 (0) 20 7379 5151 |
James Benjamin | |
Peter Hamid |
About Adamas Finance Asia
Adamas Finance Asia Limited (ADAM) is quoted on the AIM Market of the London Stock Exchange and is committed to providing shareholders with attractive uncorrelated, risk adjusted long-term returns from a combination of realising sustainable capital growth and delivering dividend income.
The Company is focused on providing growth capital and financing to emerging and established Small and Medium Enterprises (SME) sector throughout Asia, well diversified by national geographies, instruments and asset classes. This vital segment of the economy is underserved by the traditional banking industry for regulatory and structural reasons.
The Company's investment manager, Harmony Capital, seeks to capitalise on its team's established investment expertise and broad networks across Asia. Through rigorous diligence and disciplined risk management, Harmony Capital is dedicated to delivering attractive income and capital growth for shareholders with significant downside protection through selectively investing in assets and proactively managing them.
Harmony Capital is predominately sourcing private opportunities and continues to create a strong pipeline of attractive income generating assets from potential investments in growth sectors across Asia, including healthcare, fintech, hospitality, IT and property.