29th Mar 2018 07:00
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 |
Related Shares:
ADAM.L