Adamas Finance Asia Limited Open Offer and Placing Update and Portfolio Update (7739A)

TIDMADAM

RNS Number : 7739A

Adamas Finance Asia Limited

01 October 2020

1 October 2020

ADAMAS FINANCE ASIA LIMITED

(" ADAM " or the " Company ")

Open Offer and Placing Update

And

Portfolio Update

Further to the announcement on 18th September 2020, the Company has received confirmation that remaining subscription monies due under the Placing have now been transferred with funds expected to be credited to its bank account shortly. The Company remains confident that it can proceed with the admission of the Placing, Open Offer and Placing Commission Shares (a total of 13,165,782 New Ordinary Shares) to trading on AIM on 7th October 2020 ("Admission"). Dispatch of share certificates in respect of the New Ordinary Shares in certificated form (certificated holders only) is expected to occur by approximately 14(th) October 2020.

Upon Admission the Company's issued share capital (excluding 2,647,804 shares held in Treasury by the Company) will then consist of 115,590,204 Ordinary Shares. All of the shares, excluding those in Treasury, have equal voting rights. The Company's total issued share capital (including those now held in Treasury) comprises 118,238,008 Ordinary Shares. This figure of 115,590,204 Ordinary Shares 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

With reference to the Company's 2020 Interim Report, financial guidance for Future Metal Holdings Limited for the 2020 year was to be provided in September 2020. The Company will now provide an update of this asset within its Quarterly Portfolio Update for the period ending 30 September 2020. This update should be released by the end of October or early November.

Also with reference to the Company's 2020 Interim report, Infinity TNP's asset, Tellus Niseko, has opened for online bookings for the 2020/2021 Winter period.

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 
                                            --------------------- 
 
 WH Ireland Limited - Nominated Adviser      +44 (0) 20 7220 1666 
                                            --------------------- 
 James Joyce 
                                            --------------------- 
 James Sinclair Ford 
                                            --------------------- 
 
 Pello Capital Limited - Corporate Broker    +44 (0) 20 3700 2500 
                                            --------------------- 
 Mark Treharne 
                                            --------------------- 
 
 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.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDEASEFELNEFEA

(END) Dow Jones Newswires

October 01, 2020 02:00 ET (06:00 GMT)

Jade Road Investments (LSE:JADE)
Historical Stock Chart
From Jun 2024 to Jul 2024