Adamas Finance Asia Limited Completion of SPA with Infinity Capital Group (4996T)
15 Novembre 2019 - 8:00AM
UK Regulatory
TIDMADAM
RNS Number : 4996T
Adamas Finance Asia Limited
15 November 2019
15 November 2019
ADAMAS FINANCE ASIA LIMITED
(the "Company" or "ADAM")
Completion of the share sale and purchase agreement with
Infinity Capital Group Limited
Further to its announcement on 21 October 2019, Adamas Finance
Asia Limited (AIM: ADAM), the London quoted company focused on
providing shareholders with attractive uncorrelated, risk adjusted
returns from a diversified portfolio of pan-Asian investments, is
pleased to announce that all conditions precedent in relation to
the proposed equity investment in Infinity TNP have been fulfilled
and the share sale and purchase agreement ("SPA") has now
completed.
As agreed in the SPA, the Company today issued Infinity Capital
Group Limited, parent of Infinity TNP, 16,179,310 new ordinary
shares in the Company at a price of 34.8p per ordinary share (the
"Consideration Share Price"). The Consideration Share Price
represents a premium of 20% to the 30-day weighted average price
per share in ADAM immediately prior to the execution of the
SPA.
Application has been made for the new ordinary shares issued to
be admitted to trading on AIM ("Admission") and it is expected that
Admission will become effective on 20 November 2019.
Following Admission, the Company's enlarged issued share capital
will comprise 104,912,379 ordinary shares. The Company holds
916,804 shares in treasury. The total voting rights in the Company
are 103,995,575 ordinary shares. 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 Company under
the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.
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) 1825 830587
John Croft
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WH Ireland Limited - Nominated Adviser +44 (0) 20 7220 1666
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James Joyce
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James Sinclair Ford
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Pello Capital Limited - Corporate
Broker +44 (0) 20 3700 2500
---------------------
Tim Sohal
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Maitland/AMO - Communications Advisor +44 (0) 20 7379 5151
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James Benjamin
---------------------
Peter Hamid
---------------------
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
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.
END
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