Adams puts new investment strategies on hold

Adams said it intends to table proposals regarding changes to its existing investment policy at its next annual general meeting.

The firm's current policy is to "acquire an interest or interests in undervalued or pre-commercialisation projects and assets in the biotechnology sector, whilst also considering opportunities in the wider technology sector as well as opportunities that may arise in other sectors."

However, it plans to adopt a "broader, more flexible approach," saying it would seek interests in, "special situation investment opportunities that have an element of distress, dislocation, dysfunction or other special situation attributes and that they perceive to be undervalued."

While focussing primarily in the UK and Europe, the company noted it would consider global opportunities if it saw an ability to generate added value for shareholders, and would be looking at anything from minority investment to total ownership.

"There will be no limit on the number of projects into which the company may invest, and the company's financial resources may be invested in a number of propositions or in just one investment, which may be deemed to be a reverse takeover pursuant to Rule 14 of the AIM Rules," Adams said.

Adams will hold its AGM on September 8.

As of 1600 BST, shares in Adams had dropped 33.33% to EUR 0.04.