03:44 Tue 27 Mar 2018
Adamas Fin Asia Ltd - Increased Ownership in HKMH
("ADAM" or the "Company")
Increased Ownership in
The Company has issued 4,277,568 new ordinary shares of no par value each ("New Ordinary Shares") at
HKMH is a natural resources company whose primary asset is a large dolomite magnesium limestone mine that has 113.4 million tonnes of ore reserve. The mine is located in the province of
ADAM has entered into agreements with the Vendors to transfer their shareholdings in HKMH to the Company in exchange for the New Ordinary Shares. The Vendors shall also waive repayment of outstanding loans to HKMH subsidiaries totalling
The Company has, therefore, today allotted 4,277,568 new Ordinary Shares which will rank pari passu in all respects with the existing Ordinary Shares.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM which is expected to occur on or around
Following the issue of the New Ordinary Shares, the Company's enlarged issued share capital comprises 81,064,373 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure of 81,064,373 Ordinary Shares 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 share capital of the Company under the
Enquiries:
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+44 (0) 1825 830587 |
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Nominated Adviser |
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+44 (0) 113 394 6600 |
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Broker |
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finnCap Limited |
+44 (0) 20 7220 0500 |
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Public Relations Advisers |
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+44 (0) 20 7466 5000 |
About
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