ADAM.L Regulatory News (ADAM)

ADAMAS FINANCE ASIA LIMITED

("ADAM" or the "Company")

Result of Open Offer

Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle focused on providing shareholders with attractive uncorrelated, risk adjusted long-term returns, would like to confirm that the Open Offer closed for acceptances at 11.00 a.m. on 21 August 2020 with final valid applications from Qualifying Shareholders in respect of 494,464 Open Offer Shares. Accordingly, ADAM has raised a total of GBP123,616 (before expenses) via the Open Offer.

The Company has received binding commitments from multi-family offices from Asia, the Middle East and North America in relation to the Placing for the full value of the Open Offer. Following the closure of the Open Offer and as per the terms of the Placing, the Company will issue 12,044,376 New Ordinary Shares to the Placees. In addition, 626,942 Placing Commission Shares will be issued to the Placees in accordance with the terms of the Placing and representing 5% of their respective Placing Commitments. Total proceeds to be raised under the Placing amount to GBP3,011,094

Total proceeds to be raised under the Open Offer and Placing are GBP3,134,710 in aggregate. A total of 12,538,840 New Ordinary Shares will be issued pursuant to the Open Offer and the Placing, alongside 626,942 Placing Commission Shares. All of the New Ordinary Shares are expected to start trading on or around 7th September 2020.

The Placing Manager is WH Ireland, who has agreed to advise the Company in respect of the Placing pursuant to the terms of the Placing Manager Engagement Letter.

Full details of the Open Offer and Placing are available in the Circular, published on 17 July 2020 and posted to Qualifying Shareholders. The Circular is also available on the Company's website at http://adamasfinance.com.

EXPECTED TIMETABLE OF PRINCIPAL EVENTS POST OPEN OFFER COMPLETION

Latest date for settlement of subscription monies due 5.00 p.m. on 1 September 2020

from Placees under the Placing

Admission effective and trading expected to commence 8.00 a.m. on 7 September 2020

in the New Ordinary Shares

CREST members' accounts credited in respect of As soon as possible after 8.00 a.m.

the New Ordinary Shares in uncertificated form on 7 September 2020

Expected date of dispatch of share certificates in respect By 11 September 2020

of the New Ordinary Shares in certificated form (certificated holders only)

For further information on ADAM, please visit the Company's website at http://adamasfinance.com and follow the Company on Twitter (@AdamasFinance).

FOR FURTHER INFORMATION, PLEASE CONTACT:

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.