Source - RNS
RNS Number : 8581I
Adamas Finance Asia Limited
22 June 2017
 

Adamas Finance Asia Limited

("ADAM")

 

FURTHER PAYMENT OF PROCEEDS FOR TTS PROJECT DISPOSAL

 

 

Further to the announcement on 15 June 2017 in relation to the disposal of its interest in the Tian Tong Shan Villa Project (the "Disposal"), the Directors of ADAM are pleased to announce that the Company's wholly owned subsidiary, Lead Winner Limited ("LWL"), has received a further payment of HK$50,545,526 (approximately US$6.6 million).

 

Together with previous payments totalling approximately US$8.5 million, LWL has now received approximately US$15.1 million in relation to the Disposal.

 

Following receipt of the payments, LWL has no remaining interest in S&T Group Holdings Limited or the Tian Tong Shan Villa Project.

 

The remaining consideration payable for the Disposal is RMB 12 million (approximately US$1.8 million), which is the subject of a zero coupon, two year loan to the purchaser.

 

 

Enquiries:

 

Adamas Finance Asia Limited

John Croft

+44 (0) 1825 830587


WH Ireland Limited - Nominated Adviser

Tim Feather

Ed Allsopp

+44 (0) 113 394 6600

+44 (0) 117 945 3444



finnCap Limited  - Broker


William Marle

Grant Bergman

+44 (0) 20 7220 0500



First City Public Relations (Hong Kong)

+852 2854 2666

Allan Piper

+44 (0) 7438 148968

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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