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Adamas Fin Asia Ltd - Unaudited NAV Announcement and Portfolio Update

RNS Number : 4094J
Adamas Finance Asia Limited
19 August 2019
 

19 August 2019

 

ADAMAS FINANCE ASIA LIMITED

(the "Company" or "ADAM")

30 June 2019 Unaudited NAV Announcement and Portfolio Update

 

NET ASSET VALUE

Adamas Finance Asia Limited (AIM: ADAM), the London quoted pan-Asian diversified investment vehicle, is pleased to announce its quarterly net asset value ("NAV") update.

As at 30 June 2019, the consolidated unaudited estimated NAV per share was US$1.10/GBP0.88 per share. The Company has used the USD:GBP (US$1.00:GBP0.80) exchange rate as at 25 July 2019 to determine the GBP values.

The NAV per share remained unchanged from 31 March 2019 as at 30 June 2019.

UPDATE ON KEY PORTFOLIO INVESTMENTS

Hong Kong Mining Holdings Limited ("HKMH")

Positive progress has been made in preparation for mining operations to restart, currently expected to take place in H2 2019. HKMH has appointed an international accounting firm to support finance and operations for this business and a consulting firm to evaluate the potentially lucrative dolomite and wall rock market in China. The onshore PRC management team has applied to the Shanxi Province Forest Bureau to acquire additional land for mining activities. HKMH expects to receive approval for the acquisition in this quarter assuming there are no regulatory delays.

Fook Lam Moon Holdings ("FLMH")

Guo Fu Lou, the 1-star Michelin restaurant operated by Fook Lam Moon Holdings in Hong Kong, continues to attract domestic and international gourmands and receives regular coverage by local media including the South China Morning Post and Oriental Daily News. First opened in 2010, Guo Fu Lou is a Cantonese fine dining concept by FLMH targeting a millennial customer base. FLMH is currently exploring expansion opportunities for its catering business through allocating resources into other food & beverage opportunities.

DocDoc Pte Ltd ("DocDoc")

On 20 June 2019, DocDoc was invited to speak about their contribution to the ASEAN healthcare sector at the United Nations 'Consultative Forum on Investment in the Healthcare Industry' in Bangkok, Thailand. For the first half of 2019, DocDoc had a Net Promoter Score of 86 on a scale of 100 and an average customer satisfaction score of 9.1 on a scale of 10 as reported by the company.

Infinity Capital Group Limited ("ICG")

ICG has started the internal fitout for its Tellus Niseko project; expected to be completed this quarter. During 2Q19, ICG held marketing events across Asia to promote its various Tellus projects and have received positive responses. For the Tellus Hirafu project, the ground-breaking is expected to take place this quarter alongside the civil construction for the Tellus Villas development.

Further details of the Company and its investments are available on the Company's website www.adamasfinance.com 

Enquiries: 

 

Adamas Finance Asia Limited                                            +44 (0) 1825 830587 

John Croft 


 

 

WH Ireland Limited - Nominated Adviser 

+44 (0) 20 7220 1666

James Joyce 

James Sinclair Ford 

 

 

 

VSA Capital Limited - Joint Corporate Broker 

+44 (0) 20 3005 5000

Andrew Monk 

Andrew Raca 


 

 

Pello Capital Limited - Joint Corporate Broker

Tim Sohal

 

Buchanan - Financial PR 

Charles Ryland 

Victoria Hayns 

Henry Wilson 

 +44 (0) 20 3700 2500   

 

+44 (0) 20 7466 5000

 

About Adamas Finance Asia 

ADAM is a London quoted investment company focusing on delivering long-term income and capital growth to shareholders through a diverse portfolio of pan-Asian investments.  It aims to provide uncorrelated returns through a combination of capital growth and dividend income from a broad spectrum of national geographies and asset classes from the Asian Small and Medium Enterprise (SME) sector. 

 

The company's investment manager, Harmony Capital, which has a dedicated team with real Asian expertise, is focussed on the strategy of creating income and capital growth. Harmony is sourcing predominately private opportunities and has created a strong pipeline of income generating assets from potential investments in industries such as healthcare, fintech, hospitality, IT and property across Asia. 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Adamas Finance Asia Limited

Price: 28.5

Market: AIM
Market Cap: £25.05 m
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