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ADAM unit gets further payment for TTS sale

22 June 2017 09:47

Adamas Finance Asia's wholly-owned subsidiary, Lead Winner Ltd, has received a further payment of HK$50,545,526 following the sale of its interest in the Tian Tong Shan villa project announced on 15 June.

ADAM said that together with previous payments totalling approximately US$8.5m, LWL had now received approximately US$15.1m in relation to the disposal.

ADAM said: "Following receipt of the payments, LWL has no remaining interest in S&T Group Holdings Limited or the Tian Tong Shan villa project.

"The remaining consideration payable for the disposal is RMB12m (approximately US$1.8m), which is the subject of a zero coupon, two year loan to the purchaser."

At 9:47am: (LON:ADAM) Adamas Finance Asia Limited Ord Npv share price was 0p at 0.57p

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