Partial Divestment in Meize Energy Industries

RNS Number : 5156W

Jade Road Investments Limited

18 August 2022

 

18 August 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 further to its previous announcements on the 22^nd of June 2022 and the 20^th of July 2022, the third and final Tranche payment of USD400,000 has been received from Meize Energy Industries Holdings Limited ("Meize"), thereby completing the partial divestment of JADE's holding in Meize. Following this transaction, JADE retains a 6.3% stake in Meize.

John Croft, Chairman of JADE commented: "We are pleased to have completed this partial divestment from Meize, whilst retaining an ongoing interest in its future development. As I stated in our 2021 Annual Report, achieving divestments in privately owned companies in China requires patience and persistence. This divestment demonstrates that JADE has the expertise and in-country resources to work closely with portfolio companies to achieve investment returns. Our investment management team continues to focus on realisations from other portfolio companies and I look forward to providing updates on progress in due course."

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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