LONDON: Adamas Finance Asia Limited has announced that all conditions precedent in relation to the proposed equity investment in Infinity TNP have been fulfilled and the share sale and purchase agreement (SPA) has now completed.
As agreed in the SPA, the Company today issued Infinity Capital Group Limited, parent of Infinity TNP, 16,179,310 new ordinary shares in the Company at a price of 34.8p per ordinary share.
The Consideration Share Price represents a premium of 20% to the 30-day weighted average price per share in ADAM immediately prior to the execution of the SPA.
Application has been made for the new ordinary shares issued to be admitted to trading on AIM and it is expected that Admission will become effective on 20 November 2019.
Following Admission, the Company’s enlarged issued share capital will comprise 104,912,379 ordinary shares. The Company holds 916,804 shares in treasury. The total voting rights in the Company are 103,995,575 ordinary shares.
This figure 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 Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
Adamas Finance Asia Limited (ADAM) is quoted on the AIM Market of the London Stock Exchange and is committed to providing shareholders with attractive uncorrelated, risk adjusted long-term returns from a combination of realising sustainable capital growth and delivering dividend income.
The Company is focused on providing growth capital and financing to emerging and established Small and Medium Enterprises (SME) sector throughout Asia, well diversified by national geographies, instruments and asset classes. This vital segment of the economy is underserved by the traditional banking industry for regulatory and structural reasons.