7 Sep 2020 15:10
7th of September 2020
ADAMAS FINANCE ASIA LIMITED
("ADAM" or the "Company")
Share Buyback
Adamas Finance Asia Limited (AIM: ADAM), the London quoted company focused on providing shareholders with attractive uncorrelated, risk adjusted returns from a diversified portfolio of pan-Asian investments, announces that as of 7th September 2020, it has purchased a total of 295,000 Ordinary Shares of no par value in its share capital for an aggregate consideration of GBP77,821 (USD102,452) (the "Share Buyback"). These shares were bought on the 2nd, 3rd and 4th of September.
It is the Company's current intention to hold these shares in Treasury.
As previously announced, the Company has the authority to purchase up to a total of GBP543,340 (USD700,000) of its own stock.
John Croft, Chairman of Adamas Finance Asia Limited, commented:
"This transaction provided the Company the opportunity to acquire shares at an attractive price in a carefully managed way. The Company is continuing to work hard and proactively to ensure that the wider market understands the significant opportunities offered by our strategy to deliver shareholder value."
The Company's issued share capital (excluding 2,347,804 now held as treasury shares) will now consist of 102,724,422 Ordinary Shares. All of the shares, excluding those in treasury, have equal voting rights. The Company's total issued share capital (including those now held in treasury) is 105,072,226 Ordinary Shares. This figure of 102,724,422 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
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:
Adamas Finance Asia Limited | +44 (0) 778 531 5588 |
John Croft | |
WH Ireland Limited - Nominated Adviser | +44 (0) 20 7220 1666 |
James Joyce | |
James Sinclair Ford | |
Pello Capital Limited - Corporate Broker | +44 (0) 20 3700 2500 |
Mark Treharne | |
Maitland/AMO - Communications Advisor | +44 (0) 20 7379 5151 |
James Benjamin | |
Peter Hamid |
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.