27th Apr 2018 07:00
ADAMAS FINANCE ASIA LIMITED
(the "Company")
UPDATE ON DISPOSAL OF INTEREST IN GLOBAL PHARM
Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle, announces that it has been notified by Fortune Insight Limited ("Fortune") that, as a result of a change in the identity of the principal investor in a fundraising being undertaken by Fortune it is no longer in a position to complete the acquisition of the interest in Global Pharm Holdings Inc. (the "GP Interest") on the terms set out in the announcement on 15 September 2017.
The Company is in discussions with Fortune with a view to agreeing revised terms, with the principal objective of ensuring completion of the disposal of the GP Interest.
Any revised agreement with Fortune would constitute a related party transaction under the AIM Rules for Companies.
A further announcement will be made when appropriate.
Enquiries:
Adamas Finance Asia Limited | |
John Croft
| +44 (0) 1825 830587 |
WH Ireland Limited - Nominated Adviser | |
Tim Feather James Sinclair-Ford
| +44 (0) 113 394 6600
|
finnCap Limited - Broker | |
William Marle Grant Bergman
| +44 (0) 20 7220 0500 |
Buchanan - Financial PR Charles Ryland Victoria Hayns Henry Wilson |
+44 (0) 20 7466 5000 |
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
Related Shares:
ADAM.L