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Adams proposes change of investing policy

09 August 2017 07:42

Adams is to seek shareholder approval for a change of investing policy.

It said that under the existing investing policy adopted by the company at an EGM on 8 March 2013, the focus of the board "is to seek to acquire an interest or interests in undervalued or pre-commercialisation projects and assets in the biotechnology sector, while also considering opportunities in the wider technology sector as well as opportunities that may arise in other sectors.

"The principal geographic focus is on opportunities in the UK or Europe but the board will also consider possible opportunities anywhere in the world." It said the board now believed that the company and its shareholders would benefit from the adoption of a revised investing policy which provided the directors with a broader, more flexible approach to creating shareholder value.

It said the proposed revised investing policy is: "The board will seek to acquire a direct and/or indirect interests in special situation investment opportunities that have an element of distress, dislocation, dysfunction or other special situation attributes and that they perceive to be undervalued.

"The principal focus will be in the small to middle-market capitalisation sectors in the UK or Europe but the directors will also consider possible special situation opportunities anywhere in the world if they believe there is an opportunity to generate added value for shareholders."

Approval will be sought at a general meeting on 8 September.

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