TIDMADAM
RNS Number : 9429W
Adamas Finance Asia Limited
24 August 2020
ADAMAS FINANCE ASIA LIMITED
(" ADAM " or the " Company ")
Result of Open Offer
Adamas Finance Asia Limited, the London quoted pan-Asian
diversified investment vehicle focused on providing shareholders
with attractive uncorrelated, risk adjusted long-term returns ,
would like to confirm that the Open Offer closed for acceptances at
11.00 a.m. on 21 August 2020 with final valid applications from
Qualifying Shareholders in respect of 494,464 Open Offer Shares.
Accordingly, ADAM has raised a total of GBP123,616 (before
expenses) via the Open Offer.
The Company has received binding commitments from multi-family
offices from Asia, the Middle East and North America in relation to
the Placing for the full value of the Open Offer. Following the
closure of the Open Offer and as per the terms of the Placing, the
Company will issue 12,044,376 New Ordinary Shares to the Placees.
In addition, 626,942 Placing Commission Shares will be issued to
the Placees in accordance with the terms of the Placing and
representing 5% of their respective Placing Commitments. Total
proceeds to be raised under the Placing amount to GBP3,011,094
Total proceeds to be raised under the Open Offer and Placing are
GBP3,134,710 in aggregate. A total of 12,538,840 New Ordinary
Shares will be issued pursuant to the Open Offer and the Placing,
alongside 626,942 Placing Commission Shares. All of the New
Ordinary Shares are expected to start trading on or around 7(th)
September 2020.
The Placing Manager is WH Ireland, who has agreed to advise the
Company in respect of the Placing pursuant to the terms of the
Placing Manager Engagement Letter.
Full details of the Open Offer and Placing are available in the
Circular, published on 17 July 2020 and posted to Qualifying
Shareholders. The Circular is also available on the Company's
website at http://adamasfinance.com .
EXPECTED TIMETABLE OF PRINCIPAL EVENTS POST OPEN OFFER
COMPLETION
Latest date for settlement of subscription monies due 5.00 p.m. on 1 September 2020
from Placees under the Placing
Admission effective and trading expected to commence 8.00 a.m. on 7 September 2020
in the New Ordinary Shares
CREST members' accounts credited in respect of As soon as possible after 8.00 a.m.
the New Ordinary Shares in uncertificated form on 7 September
2020
Expected date of dispatch of share certificates in respect By 11
September 2020
of the New Ordinary Shares in certificated form (certificated
holders only)
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
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WH Ireland Limited - Nominated Adviser +44 (0) 20 7220 1666
---------------------
James Joyce
---------------------
James Sinclair Ford
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Pello Capital Limited - Corporate Broker +44 (0) 20 3700 2500
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Mark Treharne
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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.
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END
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