25 Feb 2019 07:01
25 February 2019
ADAMAS FINANCE ASIA LIMITED
("ADAM" or the "Company")
Share Allotment
Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle, is pleased to announce that it has issued 159,847 ordinary shares of no par value in the capital of ADAM at US$1.20 per share ("Ordinary Shares") to a minority shareholder (the "Vendor") of Hong Kong Mining Holdings Limited ("HKMH") (the "Vendor Shares").
The Vendor Shares are the first of two tranches to be issued to the Vendor as outlined in the announcement "Increased Ownership in Hong Kong Mining Holdings Limited" (RNS 98021) made on 26 March 2018. The Vendor Shares are being issued as part of the consideration agreed in respect of the Company's acquisition of certain minority shareholdings in HKMH.
The Company will make an application for the Vendor Shares to be admitted to trading on AIM and trading is expected to commence on 29 February 2019 ("Admission"). The Vendor Shares will rank pari passu in all respects with the existing Ordinary Shares.
The Company's total issued share capital will then comprise 88,733,069 Ordinary Shares, including 730,529 Ordinary Shares held in treasury. This figure of 88,733,069 Ordinary Shares 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.
Enquiries:
Adamas Finance Asia Limited | |
John Croft | +44 (0) 1825 830587 |
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WH Ireland Limited - Nominated Adviser | |
James Joyce James Sinclair Ford | +44 (0) 20 7220 1666
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VSA Capital Limited - Corporate Broker |
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Andrew Monk Andrew Raca | +44 (0) 20 3005 5000 |
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Buchanan - Financial PR Charles Ryland Victoria Hayns Henry Wilson | +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 focussed 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.