Placing Update

ADAMAS FINANCE ASIA LIMITED

("ADAM" or the "Company")

Placing Update

Further to the announcement on 7th October 2020, the Company is still awaiting receipt of the remaining placement monies from one of its Placees for the amount of GBP1,142,794. The funds have been delayed due to issues raised by the remitting financial institution. The Company has received written confirmation from the Placee that regulatory issues have now been resolved and that a second transfer (of equivalent value) will be initiated to cover the receipt of outstanding funds.  The Company remains confident in the receipt of funds.

A further announcement will be made once the monies are received and a further 4,571,177 Placing Shares (together with 237,942 Placing Commission Shares) are issued.

For further information on ADAM, please visit the Company's website at http://adamasfinance.com and follow the Company on Twitter (@AdamasFinance).

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About Adamas Finance Asia

Adamas Finance Asia Limited (ADAM) 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.