Adamas Finance Asia Limited Disposal of Interest in Global Pharm (4345V)

TIDMADAM

RNS Number : 4345V

Adamas Finance Asia Limited

23 July 2018

ADAMAS FINANCE ASIA LIMITED

(the "Company" or "ADAM")

Disposal of Interest in Global Pharm

Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle, announces that, further to the announcement on 15 June 2018, the Company has now received US$3.0 million from Fortune Insight Limited ("Fortune"), being the cash component of the consideration payable by Fortune in respect of its acquisition of ADAM's interest in Global Pharm Holdings Inc. ("Global Pharm") (the "Disposal").

The Disposal is in line with the Company's objective of a managed disposal programme of its legacy portfolio where commercially viable and reinvesting the proceeds in pan-Asian income producing assets with capital gain potential.

A further announcement will be made upon Fortune completing its subscription for shares in ADAM with a value of US$12.6 million as agreed under the revised terms for the Disposal.

Enquiries:

 
 Adamas Finance Asia Limited 
  John Croft                      +44 (0)1825 830587 
 Nominated Adviser 
 WH Ireland Limited 
  Tim Feather 
  James Sinclair-Ford           +44 (0) 113 394 6600 
 Broker 
  Shard Capital Partners LLP 
   Philip Pooley                +44 (0) 20 7186 9967 
 Public Relations Advisers 
 Buchanan 
  Charles Ryland 
  Henry Wilson                  +44 (0) 20 7466 5000

About Adamas Finance Asia ("ADAM")

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.

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 Capital is sourcing predominately private opportunities and has created a strong pipeline of income generating assets include potential investments in fintech, healthcare, property, mining, pharmaceuticals and telecoms across Asia.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DISGIGDRGSDBGIX

(END) Dow Jones Newswires

July 23, 2018 04:44 ET (08:44 GMT)

Jade Road Investments (LSE:JADE)
Historical Stock Chart
From Mar 2024 to Apr 2024