27 Aug 2019 07:00
27 August 2019
ADAMAS FINANCE ASIA LIMITED
("ADAM" or the "Company")
HKMH Restructuring
Launch of Future Metal Holdings Limited
Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle, is pleased to announce the restructuring of its equity and debt interests in Hong Kong Mining Holdings ("HKMH") which is the special purpose vehicle ("SPV") holding its interest in Linfen Zhuangpeng Magnesium Co., Ltd ("LZM"), which owns a large open pit dolomite magnesium limestone operation located in Shanxi Province, China (the "Asset") (the "Restructuring").
The Restructuring will see the launch of a new British Virgin Islands ("BVI") incorporated wholly owned subsidiary of the Company, Future Metal Holdings Limited ("Future Metal"). As a result of the Restructuring, ADAM's aggregate ownership interest in LZM will remain unchanged at 84.8%, but will now be held through two wholly owned SPVs, Future Metal and Dynamite Win Limited.
The Directors believe that the Restructuring comes at an opportune time as ADAM prepares for the restart of operations at the Asset in the second half of 2019. The Restructuring is also in line with ADAM's objective of repositioning and eventually monetising this investment, as the new name Future Metal more accurately depicts the nature of the Asset's business and its growth prospects
Following the restructuring of this investment, the Asset, previously described as HKMH, will be referred to as Future Metal Holdings.
Future Metal's website can be viewed here: www.futuremetalholdings.com
Enquiries
Adamas Finance Asia Limited +44 (0) 1825 830587 | |
John Croft | |
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WH Ireland Limited - Nominated Adviser | +44 (0) 20 7220 1666 |
James Joyce James Sinclair Ford |
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VSA Capital Limited - Joint Corporate Broker | +44 (0) 20 3005 5000 |
Andrew Monk Andrew Raca | |
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Pello Capital Limited - Joint Corporate Broker Tim Sohal
Buchanan - Financial PR Charles Ryland Victoria Hayns Henry Wilson | +44 (0) 20 3700 2500
+44 (0) 20 7466 5000 |
About Adamas Finance Asia
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 from the Asian Small and Medium Enterprise (SME) sector.
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 is sourcing predominately private opportunities and has created a strong pipeline of income generating assets from potential investments in industries such as healthcare, fintech, hospitality, IT and property across Asia.