Adamas Finance Asia Limited Share Buyback Programme (9385Q)

TIDMADAM

RNS Number : 9385Q

Adamas Finance Asia Limited

25 February 2019

ADAMAS FINANCE ASIA LIMITED

("ADAM" or the "Company")

Share Buyback Programme

The Board of Adamas Finance Asia Limited ("ADAM"), the London quoted pan-Asian diversified investment vehicle, has approved a share buyback programme ("Programme") to repurchase ordinary shares of no par value ("Ordinary Shares") up to an aggregate value of US$500,000.

The Programme will commence on 25 February 2019 and is due to be completed by the end of 2019. ADAM plans to hold any Ordinary Shares purchased under the Programme in treasury.

Ordinary Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors. The Company has appointed VSA Capital Limited ("VSA") to manage an irrevocable, non-discretionary share buyback programme to repurchase Ordinary Shares on its behalf, subject to pre-agreed parameters including a maximum price of US$0.79 per Ordinary Share (being a 25% discount to the proforma net asset value per share of US$1.06, calculated by dividing the estimated net assets of the Company as at 30 September 2018 by the current number of Ordinary Shares in issue of 88,733,069).

Any purchases of Ordinary Shares by the Company in relation to this announcement will be carried out on the London Stock Exchange and will be effected in accordance with (and subject to the limits prescribed by) (i) the general authority granted by shareholders to the Board at the Company's 2018 annual general meeting that the Company may purchase or repurchase up to 14.99% of the number of shares of the Company in issue as at 17 August 2018; and (ii) the Market Abuse Regulation 596/2014 ("MAR") and the AIM Rules.

This announcement includes inside information for the purposes of Article 7 of MAR.

Enquiries

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

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 [e-mail] or visit www.rns.com.

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(END) Dow Jones Newswires

February 25, 2019 02:03 ET (07:03 GMT)