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China Private Equity Investment, Adamas agree $20m coinvestment plan

4 Jul 2013

AIM-listed China Private Equity Investment Holdings has confirmed a seven-year $20m joint investment programme with Hong Kong-based investment management firm, Adamas Asset Management.

The strategic partnership was initially agreed last November. The programme will target investments in income-generating assets in Greater China and will initially be funded by $5m of new capital to be raised by a placing. The timing and details of the placing are still to be announced.

CPE Chairman, John Croft, said, “Our decision last year to develop a strategic partnership with Adamas recognised the potential benefits to be realised by combining the operational private equity experience of CPE with Adamas’ proven investment and risk management processes in the Greater China region.”

As part of the arrangement, CPE will issue options over 1.5 million ordinary shares in CPE to Adamas, exercisable within three years, half at $.010 per share and half at $0.15 per share.

Adamas managing partner Barry Lau said the co-investment plan and the grant of the new options represent another step towards Adamas’ goal of becoming a significant long term shareholder in the CPE.

Adamas managing partner Barry Lau, added, “For Adamas, the execution of the co-investment plan and the grant of the new Options represents another step towards our goal of becoming a significant long term shareholder in the Company. With our broad regional experience and institutional reach, we are looking forward to completing new asset acquisitions that will strengthen both Adamas and CPE and underpin our collective long-term strategic growth.”

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