23 Jul 2018 09:44
ADAMAS FINANCE ASIA LIMITED
(the "Company" or "ADAM")
Disposal of Interest in Global Pharm
Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle, announces that, further to the announcement on 15 June 2018, the Company has now received US$3.0 million from Fortune Insight Limited ("Fortune"), being the cash component of the consideration payable by Fortune in respect of its acquisition of ADAM's interest in Global Pharm Holdings Inc. ("Global Pharm") (the "Disposal").
The Disposal is in line with the Company's objective of a managed disposal programme of its legacy portfolio where commercially viable and reinvesting the proceeds in pan-Asian income producing assets with capital gain potential.
A further announcement will be made upon Fortune completing its subscription for shares in ADAM with a value of US$12.6 million as agreed under the revised terms for the Disposal.
Enquiries:
Adamas Finance Asia Limited John Croft |
+44 (0)1825 830587 | ||||
Nominated Adviser |
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WH Ireland Limited Tim Feather James Sinclair-Ford | +44 (0) 113 394 6600 | ||||
Broker |
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| +44 (0) 20 7186 9967 | ||||
Public Relations Advisers |
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Buchanan Charles Ryland Henry Wilson | +44 (0) 20 7466 5000 |
About Adamas Finance Asia ("ADAM")
ADAM is a London quoted investment company focusing on delivering long-term income and capital growth to shareholders through a diverse portfolio of pan-Asian investments. It aims to provide uncorrelated returns through a combination of capital growth and dividend income from a broad spectrum of national geographies and asset classes.
The Company's investment manager, Harmony Capital, which has a dedicated team with real Asian expertise, is focused on the strategy of creating income and capital growth. Harmony Capital is sourcing predominately private opportunities and has created a strong pipeline of income generating assets include potential investments in fintech, healthcare, property, mining, pharmaceuticals and telecoms across Asia.