About Us

History

In November 2012, the Company entered into a memorandum of understanding relating to the formation of a strategic partnership with Adamas Asset Management.

Under the partnership, Adamas Asset Management would act as a strategic consultant to the Company. In addition, the Board identified a number of assets controlled by Adamas Asset Management that they considered would be attractive additions to the Company and the memorandum of understanding recognized an injection of assets from Adamas Asset Management as one of the objectives of the partnership and that Adamas Asset Management may become a significant Shareholder in due course.

The relationship between the Company and Adamas Asset Management strengthened in July 2013 when each party announced a program to co-invest a total of up to US$22 million over a seven year period in opportunities in predominantly income-generating assets located in Greater China.

The Company announced that on 30 December 2013 it signed a conditional agreement with Elypsis Solutions Limited (“Elypsis”, a wholly owned subsidiary of a fund managed by Adamas Asset Management) to acquire interests in four special purpose vehicles which, in turn, hold interests in four domestic Chinese businesses.

Due to the size of the transaction in relation to the Company, the Proposed Acquisition constituted a reverse takeover under the AIM Rules when the Admission Document was published on 19 February, 2014.

The Admission was completed on 19 February, 2014, since then Elypsis has become a largest shareholder of the Company through the consideration shares issued by the Company to complete the Proposed Acquisition.