ADA Adams Plc

TIDMADA

RNS Number : 1342X

Adams PLC

17 December 2019

Adams plc

("Adams" or the "Company")

Disposal

The Directors announce that, on 16 December 2019, Adams sold the whole of its remaining holding of 275,643 ordinary shares of US$0.02 each in Petrofac Limited on the Main Market of the London Stock Exchange at a price of GBP4.01 per share for a total cash consideration of GBP1,104,656. Following this disposal, the Company will have cash balances of approximately GBP1,600,000. The Directors intend to reinvest the proceeds of the disposal in accordance with the Company's Investing Policy.

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

 
Adams plc 
Mike Bretherton                       Tel: +44 1534 719 761 
 
Nomad 
Cairn Financial Advisers LLP 
Sandy Jamieson, James Caithie         Tel: +44 207 213 0880 
 
Broker 
Peterhouse Corporate Finance Limited 
Lucy Williams, Duncan Vasey           Tel: +44 207 469 0930 
 

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END

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December 17, 2019 03:57 ET (08:57 GMT)

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