Partial Divestment in Meize Energy Industries

RNS Number : 1176T

Jade Road Investments Limited

20 July 2022

 

20 July 2022

JADE ROAD INVESTMENTS LIMITED

("Jade Road Investments ", " JADE ", the "Company" or the "Group")

Jade Road Investments Limited (AIM: JADE), the London quoted pan-Asian diversified investment vehicle focused on providing shareholders with attractive uncorrelated, risk-adjusted long-term returns, is pleased to announce that the Company has successfully received the Second Tranche Price of USD400,000 from Meize Energy Industries Holdings Limited ("Meize"), one of the leading privately-owned wind turbine blade manufacturing companies in China, currently the second-largest holding in the Company's portfolio (12.1% of NAV as at announcement).

The Company expects to receive the Third Tranche Price in late August 2022 as agreed in the SPA. 

The total consideration of USD1.2 million for 112,500 shares of the Series B Preferred Equity in Meize implies a valuation of USD10.0 million for the Company's investment in Meize, which indicates a 22.0% premium to the carrying value as at the 31^st of December 2021 (USD8.2 million).

For further information on JADE, please visit the Company's website at  www.jaderoadinvestments.com   and follow the Company on Twitter (@ JadeFinance ).

FOR FURTHER INFORMATION, PLEASE CONTACT:

Jade Road Investments Limited	[phone]
John Croft
WH Ireland Limited - Nominated Adviser	[phone]
James Joyce
Andrew de Andrade
Hybridan LLP - Corporate Broker	[phone]
Claire Noyce
Lionsgate Communications - Communications Adviser	[phone]
Jonathan Charles

About Jade Road Investments

Jade Road Investments Limited 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. 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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