Adamas Finance Asia has announced that, further to its previous announcement on 24 February 2017 in relation to the proposed disposal of its interest in the Tian Tong Shan Villa Project, the Company’s wholly owned subsidiary, Lead Winner Limited, has received a payment of HKD$52,353,176 (approximately US$6.8 million) in final settlement of the amount due from the exercise of the Put Option (as defined in the announcement on 4 January 2017 -click here for details). Lead Winner Limited has previously received a payment of US$700,000 in part payment for the exercise of the Put Option.
About Adamas Finance Asia says that, as a result of the receipt of the payments, Lead Winner Limited ‘s holding in S&T Group Holdings Limited (S&T) has reduced from 30% to 20%. It also says that a further announcement relating to the sale of LWL’s remaining holding in S&T will be made in due course.
About Adamas Finance Asia
Adamas Finance Asia focuses on funding growth capital to small and medium enterprises (“SMEs”) throughout Asia, predominantly in Greater China, covering the credit spectrum to meet the underserved financing needs of such enterprises across various industries. It describes itself as providing flexible structures and adding value to its clients’ businesses on both operational and financial levels.
Adamas Finance Asia says that it aims to become an influential and diversified NBFI (Non-Banking Financial Institution) via credit & structured finance lending in Greater China. The focus is to benefit from the arbitrage present in the system wherein SMEs are finding it difficult to traditional bank channels. Its intention is to support smart entrepreneurs of these underserved SMEs and participate in their expansion. Through the above commitment, it says that it wants to create jobs, enhance corporate governance, and serve as a financing bridge between the high growth markets in Greater China to the rest of the world.
Adamas Finance Asia receives circa US$8.6m in relation to put option : ADAM