26 Nov 2018 11:45
Adamas Finance Asia Limited
(the "Company" or "ADAM")
Issue of Equity
The Company reported in its 2017 Annual Report and Accounts that its investment manager's incentive fee in respect of 2017 was USD 3,503,200. Under the terms of its agreement with Harmony Capital Investors Limited ('Harmony'), 50 per cent of such fee is payable in ADAM shares.
Consequently the Company has issued Harmony 1,400,832 ADAM shares calculated using the average share price prescribed in the agreement as at 31 December 2017.
The Company will make an application for these shares to be admitted to trading on AIM and trading is expected to commence on 29 November 2018 ("Admission").
Following Admission, the Company's enlarged issued share capital will comprise 82,465,205 ordinary shares. The Company does not hold any shares in treasury. The total voting rights in the Company is therefore 82,465,205 ordinary shares and this figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Harmony's shareholding in ADAM following Admission will represent 1.70% of the total issued share capital of the Company.
In this transaction, Barry Lau acquires via his indirect interest in Harmony, 1,400,832 ordinary shares of no par value each in ADAM. As a result, Mr. Lau is interested in 4,561,400 ordinary shares, representing 5.53% of the Company's issued share capital.
The attached notification gives further detail made in accordance with the requirements of the EU Market Abuse Regulation.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Barry Lau | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Indirect Interest in Harmony Capital Investors Limited | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Adamas Finance Asia Limited | ||||
b)
| LEI
| 2138005R4IVX4O3IQ543 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of no par value in Adamas Finance Asia Limited
VGG008271246
| ||||
b)
| Nature of the transaction
| Acquisition of shares | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
1,400,832
USD nil
| ||||
e) | Date(s) of the transaction
| 22 November 2018 | ||||
f) | Place of the transaction | Off market | ||||
Enquiries:
Adamas Finance Asia Limited | |
John Croft | +44 (0) 1825 830587 |
WH Ireland Limited - Nominated Adviser | |
James Joyce James Sinclair Ford | +44 (0) 207 220 1666
|
VSA Capital Limited - Corporate Broker | |
Andrew Monk | +44 (0) 20 3005 5000 |
Andrew Raca | |
Buchanan - Financial PR Charles Ryland Victoria Hayns Henry Wilson |
+44 (0) 20 7466 5000 |