Adamas Finance Asia Limited Share Buyback (2631Y)
September 07 2020 - 10:10AM
UK Regulatory
TIDMADAM
RNS Number : 2631Y
Adamas Finance Asia Limited
07 September 2020
7th of September 2020
ADAMAS FINANCE ASIA LIMITED
(" ADAM " or the " Company ")
Share Buyback
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 , announces that as of 7(th) September 2020,
it has purchased a total of 295,000 Ordinary Shares of no par value
in its share capital for an aggregate consideration of GBP77,821
(USD102,452) (the "Share Buyback"). These shares were bought on the
2(nd) , 3(rd) and 4(th) of September.
It is the Company's current intention to hold these shares in
Treasury.
As previously announced, the Company has the authority to
purchase up to a total of GBP543,340 (USD700,000) of its own
stock.
John Croft, Chairman of Adamas Finance Asia Limited,
commented:
"This transaction provided the Company the opportunity to
acquire shares at an attractive price in a carefully managed way.
The Company is continuing to work hard and proactively to ensure
that the wider market understands the significant opportunities
offered by our strategy to deliver shareholder value."
The Company's issued share capital (excluding 2,347,804 now held
as treasury shares) will now consist of 102,724,422 Ordinary
Shares. All of the shares, excluding those in treasury, have equal
voting rights. The Company's total issued share capital (including
those now held in treasury) is 105,072,226 Ordinary Shares. This
figure of 102,724,422 Ordinary Shares 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 Financial Conduct Authority's Disclosure Guidance
and Transparency Rules.
For further information on ADAM, 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
---------------------
Pello Capital Limited - Corporate Broker +44 (0) 20 3700 2500
---------------------
Mark Treharne
---------------------
Maitland/AMO - Communications Advisor +44 (0) 20 7379 5151
---------------------
James Benjamin
---------------------
Peter Hamid
---------------------
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.
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