7th Jan 2016 15:07
ADAMAS FINANCE ASIA LIMITED
("ADAM" or the "Company")
UPDATE ON PROPOSED IPO of HKMH
Adamas Finance Asia Limited (AIM: ADAM) announces that Hong Kong Mining Holdings Limited ("HKMH") has been notified by the Hong Kong Stock Exchange that its application for listing has not been successful.
HKMH is a resources company whose primary asset is a large dolomite magnesium limestone mine in the province of Shanxi, China. Through its wholly owned subsidiary, Dynamite Win Limited, ADAM holds an interest of 10.95% in HKMH, together with a put option under which the Company can sell the interest to HKMH's major shareholder.
The Directors of ADAM will review options in relation to the holding in HKMH together with the Company's Investment Manager. Further announcements will be made as appropriate.
Enquiries:
Adamas Finance Asia Limited John Croft | +44 (0) 1825 830587
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Nominated Adviser | |
W H Ireland Limited Tim Feather Liam Gribben | +44 (0) 113 394 6600 |
Broker Edmond de Rothschild Securities (UK) Limited |
+44 (0) 20 7845 5950 |
John Armstrong-Denby Hiroshi Funaki | |
Public Relations Advisers | |
Ryan Communication (Hong Kong) Scott McFarlane | +852 6297 3801
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