TIDMADAM

RNS Number : 3212J

Adamas Finance Asia Limited

29 March 2018

ADAMAS FINANCE ASIA LIMITED

(the "Company" or the "Group")

UPDATE ON DISPOSAL OF INTEREST IN GLOBAL PHARM

On 15 January 2018, Adamas Finance Asia Limited, a London quoted pan-Asian diversified investment vehicle announced that the payment of US$15.6m in cash that is due to Adamas for the disposal of the Group's interest in Global Pharm Holdings Group Inc to Fortune Insight Limited was due to be paid by 31 March 2018.

Fortune Insight Limited (FIL) has today confirmed that funding required to complete the transaction has been secured and that legal documentation is being finalised to enable the transaction to complete. FIL has confirmed that it is confident that the consideration of $15.6m will be paid to ADAMAS in the near future.

A further announcement will be made in due course.

Enquiries:

 
 Adamas Finance Asia Limited      +44 (0) 1825 830587 
 John Croft 
 
 WH Ireland Limited - 
  Nominated Adviser               44 (0) 113 394 6600 
 Tim Feather 
 James Sinclair-Ford 
 
 finnCap Limited - Broker        +44 (0) 20 7220 0500 
 William Marle 
 Grant Bergman 
 
 
  Buchanan - Financial 
  PR                             +44 (0) 20 4766 5000 
 Charles Ryland 
 Henry Wilson

This information is provided by RNS

The company news service from the London Stock Exchange

END

UPDDVLFLVXFXBBQ

(END) Dow Jones Newswires

March 29, 2018 02:00 ET (06:00 GMT)

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