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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February 13, 2019 04:22 ET (09:22 GMT)

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