Adamas Finance Asia Limited Issue of Equity (5027I)
November 26 2018 - 6:45AM
UK Regulatory
TIDMADAM
RNS Number : 5027I
Adamas Finance Asia Limited
26 November 2018
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 Ordinary shares of no par value in Adamas Finance
instrument Asia Limited
Identification code VGG008271246
------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Acquisition of shares
------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
nil 1,400,832
-----------
------------------------------------------------------- -------------------------------------------------------
d) Aggregated information
- Aggregated volume
1,400,832
- Price
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
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
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