TIDMADAM

RNS Number : 8581I

Adamas Finance Asia Limited

22 June 2017

Adamas Finance Asia Limited

("ADAM")

FURTHER PAYMENT OF PROCEEDS FOR TTS PROJECT DISPOSAL

Further to the announcement on 15 June 2017 in relation to the disposal of its interest in the Tian Tong Shan Villa Project (the "Disposal"), the Directors of ADAM are pleased to announce that the Company's wholly owned subsidiary, Lead Winner Limited ("LWL"), has received a further payment of HK$50,545,526 (approximately US$6.6 million).

Together with previous payments totalling approximately US$8.5 million, LWL has now received approximately US$15.1 million in relation to the Disposal.

Following receipt of the payments, LWL has no remaining interest in S&T Group Holdings Limited or the Tian Tong Shan Villa Project.

The remaining consideration payable for the Disposal is RMB 12 million (approximately US$1.8 million), which is the subject of a zero coupon, two year loan to the purchaser.

Enquiries:

 
 Adamas Finance Asia Limited 
 John Croft                     +44 (0) 1825 830587 
 
 WH Ireland Limited - Nominated Adviser 
                                    +44 (0) 113 394 
                                               6600 
 Tim Feather                        +44 (0) 117 945 
  Ed Allsopp                                   3444 
 
 finnCap Limited - Broker 
 William Marle                      +44 (0) 20 7220 
  Grant Bergman                                0500 
 
 First City Public Relations 
  (Hong Kong)                        +852 2854 2666 
 Allan Piper                    +44 (0) 7438 148968

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 22, 2017 03:46 ET (07:46 GMT)

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