StockMarketWire.com - Adamas Finance Asia said it had launched Future Metal Holdings to more accurately reflect the nature of operations of its investment in the magnesium mine located in China.

Following the restructuring of this investment, the large open pit dolomite magnesium limestone operation located in Shanxi Province, China and owned by Linfen Zhuangpeng Magnesium Co, previously described as Hong Kong Mining Holdings, would be referred to as Future Metal Holdings.

ADAM's aggregate ownership interest in Linfen Zhuangpeng Magnesium Co., which owned a large open pit dolomite magnesium limestone operation located in Shanxi Province, China, would remain unchanged at 84.8%, but now be held through two wholly owned special purpose vehicles, Future Metal and Dynamite Win Limited.

'The Directors believe that the Restructuring comes at an opportune time as ADAM prepares for the restart of operations at the Asset in the second half of 2019,' the company said.

'The restructuring is also in line with ADAM's objective of repositioning and eventually monetising this investment, as the new name Future Metal more accurately depicts the nature of the Asset's business and its growth prospects.'

At 8:52am: [LON:ADAM] Adamas Finance Asia Ltd share price was 0p at 32.5p



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