Jade Road Investments Limited Partial divestment in Meize Energy Industries (7646P)
22 Junio 2022 - 1:39AM
UK Regulatory
TIDMJADE
RNS Number : 7646P
Jade Road Investments Limited
22 June 2022
22 June 2022
JADE ROAD INVESTMENTS LIMITED
("Jade Road Investments ", " JADE ", the "Company" or the
"Group")
Jade Road Investments Limited (AIM: JADE), the London quoted
pan-Asian diversified investment vehicle focused on providing
shareholders with attractive uncorrelated, risk-adjusted long-term
returns, is pleased to announce that the Company has successfully
negotiated a partial divestment in Meize Energy Industries Holdings
Limited ("Meize"), one of the leading privately-owned wind turbine
blade manufacturing companies in China, currently the third-largest
holding in the Company's portfolio (7.7% of NAV as at
announcement).
On the 23(rd) of November 2011, the Company , through its
wholly-owned subsidiary Swift Wealth Investments Limited,
subscribed to USD7.5MM of Series B Preferred Shares. This
investment equates to a shareholding of approximately 7.2% in
Meize.
The Company is pleased to announce that it has entered into a
share purchase agreement ("SPA") for 112,500 shares of the Series B
Preferred Equity in Meize for consideration of USD1.2 million (the
"Transaction Price"). The Transaction Price will be received by the
Company in three equal tranches. The number of shares sold in this
partial divestment represents 12.0% of the Company's holding in
Meize. The Company will hold approximately 6.3% interest in Meize
post this divestment.
Before the release of this RNS, the Company received the First
Tranche Price of USD400,000. The Company expects to receive the
Second and Third Tranche Price in late July and August 2022 as
agreed in the SPA.
The Transaction Price implies a valuation of USD10.0 million for
the Company's investment in Meize, which indicates a 22.0% premium
to the carrying value as at the 30(th) of June 2021 (USD8.2
million). The profit from this disposal is USD0.3 million.
This divestment, of which the sale consideration is settled
offshore, marks the culmination of a lengthy and successful
turnaround effort by the Company for private investment in
China.
John Croft, Chairman of Jade Road commented : "Exiting private
equity positions held in Chinese companies requires patience as
well as persistence, but as demonstrated by this announcement,
exits can be achieved, and in this case, at a premium to the value
of the asset held in our books. Whilst having no direct connection
with other privately held Chinese assets in our portfolio, it does
provide clear evidence that these assets have real value and that
in time realisations can be made delivering cash returns into the
Company."
For further information on JADE, please visit the Company's
website at www.jaderoadinvestments.com and follow the Company on
Twitter (@ JadeFinance ).
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jade Road Investments Limited +44 (0) 778 531 5588
John Croft
WH Ireland Limited - Nominated
Adviser +44 (0) 20 7220 1666
James Joyce
Andrew de Andrade
Hybridan LLP - Corporate Broker +44 (0) 203 764 2341
Claire Noyce
Lionsgate Communications - Communications
Adviser +44 (0) 779 189 2509
Jonathan Charles
About Jade Road Investments
Jade Road Investments Limited 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.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
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.
END
MSCQLLBLLQLXBBQ
(END) Dow Jones Newswires
June 22, 2022 02:39 ET (06:39 GMT)
Jade Road Investments (AQSE:JADE.GB)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
Jade Road Investments (AQSE:JADE.GB)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
