Adamas Finance Asia Limited Co-Investment in Infinity Capital Group (4550F)

TIDMADAM

RNS Number : 4550F

Adamas Finance Asia Limited

15 July 2019

15 July 2019

ADAMAS FINANCE ASIA LIMITED

("ADAM" or the "Company")

Co-Investment in Infinity Capital Group

Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle, is pleased to announce that, further to the announcement on 6 December 2018, a Hong Kong based family office (the "Family Office") has agreed (the "Co-Investment Agreement") to participate alongside the Company in its senior secured loan note facility (the "Loan Facility") provided to Infinity Capital Group ("ICG"). ICG develops premium residential projects in Hirafu Village, a world-class ski village in Niseko, Japan - one of the most popular winter travel destinations in the world.

The terms of the Loan Facility remain the same, being a principal amount of US$4.0 million, capable of being drawn down by ICG in two equal tranches of $2.0 million and paying a coupon of 17.5% per annum in cash. The first tranche of the Loan Facility was drawn down by ICG on 31 January 2019.

Upon completion of the Co-Investment Agreement, the Family Office will pay $1.0 million in cash to the Company, being 50% of such first tranche draw down. The second tranche of the Loan Facility will also be funded 50:50 by the Company and the Family Office. The Family Office shall share 50% of the economic benefit and obligations related to the Loan Facility announced on 6 December 2018 (including the outstanding obligation to fund the undrawn amount of the loan Facility).

The Loan Facility is secured by real estate assets which form part of ICG's portfolio in Niseko.

The Directors believe that in securing the Family Office's co-investment, the Company's investment manager has leveraged an extensive pan-Asian network to find a highly attractive co-investment partner, thereby enabling the Company to re-allocate capital within the Company's strong pipeline of high-growth Asian small and medium-sized enterprises across the region.

Enquiries

 
 Adamas Finance Asia Limited        [phone] 
 John Croft 
 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 
 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

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 focused 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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July 15, 2019 02:00 ET (06:00 GMT)