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Adamas Finance realises Global Pharm convertible

Adamas Finance Asia is getting $25m from the redemption of the convertible bond it holds in Global Pharm Holdings. ADAM will receive an initial payment of US$2.4 million on 31 December 2014, a further US$9 million on 31 March 2015 and a final payment of US$13.6 million on 30 April 2015, yielding an aggregate of US$25 million.

The value of the Convertible Bond in the ADAM balance sheet is US$22.4 million and the Redemption is expected to generate a profit on disposal of US$2.6million.

ADAM : Adamas Finance realises Global Pharm convertible

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