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Share Name Share Symbol Market Type Share ISIN Share Description
Adamas Finance Asia Limited LSE:ADAM London Ordinary Share VGG008271246 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 24.50 23.00 26.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -2.1 -2.3 - 28

Adamas Finance Asia Limited Placing Update

31/12/2020 11:00am

UK Regulatory (RNS & others)


Adamas Finance Asia (LSE:ADAM)
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TIDMADAM

RNS Number : 2851K

Adamas Finance Asia Limited

31 December 2020

31 December 2020

ADAMAS FINANCE ASIA LIMITED

(" ADAM " or the " Company ")

Placing Update

Further to our announcement on 2 November 2020, the Company has yet to receive funds from one of its placees for the amount of GBP1,142,794. To date, the Company has raised GBP1,991,916 (before expenses) of its originally targeted GBP3,134,710 from the Open Offer and Placing announced on 17 July 2020. Despite the delay in receiving the outstanding funds, the Company retains a strong balance sheet with more than adequate cash for the operation of its business and planned investment activities as we enter 2021.

Strategic initiatives that have been delayed pending receipt of the final placing monies will now be progressed without any further delay, as there is no certainty of receiving the funds. However, vigorous efforts will continue to be made to collect the funds.

A further announcement will follow in January 2021 outlining the business initiatives which the Company expects to launch as we enter the New Year.

For further information, 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 
                                          --------------------- 
 
 Hybridan LLP - Corporate Broker           +44 (0) 20 3764 2341 
                                          --------------------- 
 Claire Louise Noyce 
                                          --------------------- 
 
 

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.

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December 31, 2020 06:00 ET (11:00 GMT)

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