Adamas Finance Asia Limited Issue of Equity (5027I)

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                            [phone] 
 
 WH Ireland Limited - Nominated Adviser 
 James Joyce 
  James Sinclair Ford                 [phone] 
 
 VSA Capital Limited - Corporate 
  Broker 
 Andrew Monk                          [phone] 
 Andrew Raca 
 
 Buchanan - Financial PR 
  Charles Ryland 
  Victoria Hayns 
  Henry Wilson                        [phone] 
 

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November 26, 2018 06:45 ET (11:45 GMT)