Adams, which used to be (until March 2013) and eastern European property company, Carpathian, and is now focused on the technology and life sciences sectors, sold or shut down the last of its legacy assets over the year ended 31 March 2015. It is one of the smallest listed investment companies.
The Company delivered a gain of €172,000 on its technology and life science investments in the year to 31 March 2015 versus a corresponding loss of €18,000 in the previous year. The Board kept a tight control of expenses with net operating costs for the year of €196,000 and which resulted in a loss after tax of €25,000 compared to a reported loss of €121,000 in the previous year.
At the year end, the Company held two investments both of which were quoted on AIM and had a carrying value of €174,000. These were sold after the year end for €198,035.
ADA : Adams sells last of legacy assets