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Adamas Fin Asia Ltd - Future Metal Holdings Limited: Asset Overview

RNS Number : 1898V
Adamas Finance Asia Limited
05 August 2020
 

05 August 2020

ADAMAS FINANCE ASIA LIMITED

("ADAM" or the "Company")

Future Metal Holdings Limited: Asset Overview

Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle focused on providing shareholders with attractive uncorrelated, risk adjusted long-term returns, is pleased to make the following announcement regarding its asset, Future Metal Holdings Limited ("FMHL").

FMHL is a natural resources company which operates an open-pit dolomite quarry in Shanxi Province, China.

FMHL is the largest quarry of its kind in the local region, encompassing a total area of 2.3 km2. Its major end products are Dolomite and Wall Rock.  Importantly, Wall Rock, is a key building material used for roads, bridges and other construction projects in the country.  Dolomite is used in the production of the metal, Magnesium, which is present in countless products used in daily life including personal computers, airplanes and automobiles.

In early 2020, quarry operations paused temporarily due to the COVID-19 pandemic but resumed in mid-March as China gradually recovered from the crisis.

Due to China's continuing rapid urbanisation, demand for FMHL's products is expected to remain robust.

For the remainder of 2020, the quarry is expected to operate at full production and the Company expects to provide its first financial guidance for the quarry for the 2020 year in late August or early September of this year.

For further information, please visit FMHL's website at  www.futuremetalholdings.com or the Company's website at http://adamasfinance.com and follow the Company on Twitter (@AdamasFinance).

FOR FURTHER INFORMATION, PLEASE CONTACT:

Adamas Finance Asia Limited

+44 (0) 778 531 5588

John Croft




WH Ireland Limited - Nominated Adviser

+44 (0) 20 7220 1666

James Joyce


James Sinclair Ford




Pello Capital Limited - Joint Corporate Broker

+44 (0) 20 3700 2500

Mark Treharne




Maitland/AMO - Communications Advisor

+44 (0) 20 7379 5151

James Benjamin


Peter Hamid


 

About Adamas Finance Asia

Adamas Finance Asia Limited (ADAM) is quoted on the AIM Market of the London Stock Exchange and is committed to providing shareholders with attractive uncorrelated, risk adjusted long-term returns from a combination of realising sustainable capital growth and delivering dividend income.

 

The Company is focused on providing growth capital and financing to emerging and established Small and Medium Enterprises (SME) sector throughout Asia, well diversified by national geographies, instruments and asset classes. This vital segment of the economy is underserved by the traditional banking industry for regulatory and structural reasons.

 

The Company's investment manager, Harmony Capital, seeks to capitalise on its team's established investment expertise and broad networks across Asia. Through rigorous diligence and disciplined risk management, Harmony Capital is dedicated to delivering attractive income and capital growth for shareholders with significant downside protection through selectively investing in assets and proactively managing them.

 

Harmony Capital is predominately sourcing private opportunities and continues to create a strong pipeline of attractive income generating assets from potential investments in growth sectors across Asia, including healthcare, fintech, hospitality, IT and property. 

 


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 rns@lseg.com or visit www.rns.com.
 
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Quick facts: Adamas Finance Asia Limited

Price: 24.5

Market: AIM
Market Cap: £25.17 m
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