Adamas Finance Asia Limited Share Buyback Programme (9385Q)
25 February 2019 - 6:03PM
UK Regulatory
TIDMADAM
RNS Number : 9385Q
Adamas Finance Asia Limited
25 February 2019
ADAMAS FINANCE ASIA LIMITED
("ADAM" or the "Company")
Share Buyback Programme
The Board of Adamas Finance Asia Limited ("ADAM"), the London
quoted pan-Asian diversified investment vehicle, has approved a
share buyback programme ("Programme") to repurchase ordinary shares
of no par value ("Ordinary Shares") up to an aggregate value of
US$500,000.
The Programme will commence on 25 February 2019 and is due to be
completed by the end of 2019. ADAM plans to hold any Ordinary
Shares purchased under the Programme in treasury.
Ordinary Share purchases will take place in open market
transactions and may be made from time to time depending on market
conditions, share price, trading volume and other factors. The
Company has appointed VSA Capital Limited ("VSA") to manage an
irrevocable, non-discretionary share buyback programme to
repurchase Ordinary Shares on its behalf, subject to pre-agreed
parameters including a maximum price of US$0.79 per Ordinary Share
(being a 25% discount to the proforma net asset value per share of
US$1.06, calculated by dividing the estimated net assets of the
Company as at 30 September 2018 by the current number of Ordinary
Shares in issue of 88,733,069).
Any purchases of Ordinary Shares by the Company in relation to
this announcement will be carried out on the London Stock Exchange
and will be effected in accordance with (and subject to the limits
prescribed by) (i) the general authority granted by shareholders to
the Board at the Company's 2018 annual general meeting that the
Company may purchase or repurchase up to 14.99% of the number of
shares of the Company in issue as at 17 August 2018; and (ii) the
Market Abuse Regulation 596/2014 ("MAR") and the AIM Rules.
This announcement includes inside information for the purposes
of Article 7 of MAR.
Enquiries
Adamas Finance Asia Limited
John Croft +44 (0) 1825 830587
WH Ireland Limited - Nominated
Adviser +44 (0) 113 394 6600
James Joyce
James Sinclair-Ford
VSA Capital Limited - Corporate
Broker +44 (0) 20 3005 5000
Andrew Monk
Andrew Raca
Buchanan - Financial PR +44 (0) 20 7466 5000
Charles Ryland
Victoria Hayns
Henry Wilson
About Adamas Finance Asia
ADAM is a London quoted investment company focusing on
delivering long-term income and capital growth to shareholders
through a diverse portfolio of pan-Asian investments. It aims to
provide uncorrelated returns through a combination of capital
growth and dividend income from a broad spectrum of national
geographies and asset classes from the Asian Small and Medium
Enterprise (SME) sector.
The company's investment manager, Harmony Capital, which has a
dedicated team with real Asian expertise, is focussed on the
strategy of creating income and capital growth. Harmony is sourcing
predominately private opportunities and has created a strong
pipeline of income generating assets from potential investments in
industries such as healthcare, fintech, hospitality, IT and
property across Asia.
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.
END
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