Share Buyback

25 February 2019

ADAMAS FINANCE ASIA LIMITED

("ADAM" or the "Company") 

Share Buyback

Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle, is pleased to announce it has reached agreement for the off-market purchase of 730,529 Ordinary Shares of no par value in the capital of ADAM for an aggregate purchase price of US$73,053 (the "Shares") (being a price of US$0.10 per ordinary share). The Shares have been purchased from Deloitte Financial Advisory Pty Ltd (as liquidators of the Avestra Accelerator Fund and Avestra Maximiser Fund) and Oak Point Partners, an investment firm specialising in the acquisition of remnant assets.

The trades have not yet completed, and a further announcement will be made when this occurs.

Following the purchase of these Shares, ADAM will hold the Shares as treasury shares. The Company's issued share capital (excluding those held as treasury shares) will then consist of 87,842,693 ordinary shares. All of the shares, excluding those in treasury, have equal voting rights. The Company's total issued share capital (including those now held in treasury) comprises 88,573,222 Ordinary Shares. This figure of 88,573,222 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Commenting on the buyback, John Croft, Chairman of ADAM said: "This marks another positive development in addressing historic outstanding issues. ADAM remains focused on investing in the Asian Small and Medium-sized Enterprise sector as it looks to build a portfolio which is representative of the diverse nature of Asia."

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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.