Adamas Finance Asia Limited Placing Update (2851K)
31 Diciembre 2020 - 05:00AM
UK Regulatory
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
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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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Hybridan LLP - Corporate Broker +44 (0) 20 3764 2341
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Claire Louise Noyce
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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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END
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