Adamas Finance Asia Limited Share Issue (8899P)
February 13 2019 - 04:22AM
UK Regulatory
TIDMADAM
RNS Number : 8899P
Adamas Finance Asia Limited
13 February 2019
13 February 2019
ADAMAS FINANCE ASIA LIMITED
("ADAM" or the "Company")
Share Issue
Adamas Finance Asia Limited, the London quoted pan-Asian
diversified investment vehicle, is pleased to announce that it has
agreed to issue 6,108,017 ordinary shares of no par value in the
capital of ADAM ("Ordinary Shares") to CASIL Clearing Limited
("CASIL"), a subsidiary of China Aerospace International Holdings
Ltd in consideration for CASIL:
(a) waiving a put-option which it held in relation to its
shareholding in Hong Kong Mining Holdings Limited ("HKMH") pursuant
to which it had the right to require HKMH to buy back the majority
of its 6.8% shareholding in HKMH (Buy Back Shares); and
(b) transferring the Buy Back Shares as directed by ADAM.
The number of Ordinary Shares to be issued to CASIL is referable
to the original agreed consideration by HKMH for the Buy Back
Shares of HK$29,000,000 under the put-option (the
"Consideration").
The aggregate number of Ordinary Shares to be allotted in order
to satisfy the Consideration (the "Consideration Shares") shall be
6,108,017 (being the Consideration divided by US$0.605, the average
closing price of ADAM's shares in the thirty trading days
immediately before the signing of the share allotment and transfer
agreement between CASIL and the Company dated 12 February
2019).
The Company will make an application for the Consideration
Shares to be admitted to trading on AIM and trading is expected to
commence on 19 February 2019 ("Admission"). The Consideration
Shares will rank pari passu in all respects with the existing
Ordinary Shares.
Following Admission, the Company's enlarged issued share capital
will comprise 88,573,222 Ordinary Shares. The Company does not hold
any shares in treasury. The total voting rights in the Company is
therefore 88,573,222 Ordinary Shares. 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.
HKMH a subsidiary of Dynamite Win Limited, owns a dolomite
magnesium limestone mine in Shanxi Province, China, a key region
for dolomite magnesium limestone production, a vital material in a
variety of chemical and industrial applications. ADAM's equity
interest in HKMH remains unchanged at 84.81 percent on completion
of this transaction.
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
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.
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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