Adams is an investing company with an investing policy under which the directors of Adams (“the Directors”) sought to acquire interests in special situation investment opportunities that have an element of distress, dislocation, dysfunction or other special situation attributes and that the Directors perceive to be undervalued.

However, on 25 October 2024 the Company announced proposals to:

  • cancel the admission of the Company's shares to trading on AIM (“the Cancellation”); and
  • persue an orderly realisation of investments strategy and a return of capital to shareholders over the short to medium term; and
  • use the Company's existing share buyback authority to purchase shares to help enable shareholders who wish to sell their shares at 4 pence each ahead of the Cancellation.

 The resolution to approve the Cancellation was passed by shareholders at an Extraordinary General Meeting on 27 November 2024 and the delisting from AIM became effective at 7.00 a.m. on 5 December 2024.

 

Realisation of investments and return of capital to shareholders

The Company was able to dispose of its entire investment portfolio during the year ended 31 March 2026 and made two return of capital distributions to shareholders in that year. The first of these was the payment of a 2.10 pence per share capital distribution on 12 November 2025 amounting to a total value of £3.062 million and the second was a further capital distribution of 1.58 pence per share paid on 12 February 2026 amounting a total value of £2.304 million.

Subsequently on 20 April 2026, the Directors approved the payment of a final capital distribution of 0.1913 pence per share payable on 1 May 2026 amounting to a total value of £0.279 million and which will have the resultant effect of eliminating the Company’s surplus assets and reducing the capital and reserves to £nil.

Dissolution of the Company under section 190 of the Isle of Man Companies Act

A notice of dissolution of the Company was sent to all shareholders on 23 February 2026 and on 20 April 2026, Adams received confirmation from the Isle of Man Companies Registry that it was entitled to make a final distribution of surplus assets and for the Company to then be dissolved.

It is now expected that Adams will be dissolved shortly after 1 May 2026. The date of the actual dissolution will then be notified here on the Company’s website. This website will remain in operation for a further period of around three months to 31 July 2026 post the expected dissolution of the Company.