Adams Plc is an Isle of Man-based investing company that seeks direct and indirect interests in special situation investment opportunities exhibiting distress, dislocation, dysfunction or other attributes perceived as undervalued, primarily in small to middle-market capitalization sectors across the UK, Europe and potentially worldwide; investments encompass quoted and unquoted shares, assets including intellectual property, joint ventures, equity derivatives, contracts for difference or debt-related securities, with holdings ranging from minority stakes to full ownership and no prescribed limits on number, size or holding period. Principal portfolio companies as of recent reporting include quoted investments in Niox Group Plc (asthma diagnostics), Seeing Machines Ltd (AI-powered operator monitoring), Griffin Mining Ltd (zinc and gold mining), Pulsar Group Plc (AI SaaS for marketing), NCC Group Plc (cyber security) and smaller positions in Cirata Plc (data activation) and Euromax Resources Ltd (copper-gold development), alongside unquoted stakes in C4X Discovery Holdings Plc (drug discovery), Oxehealth Ltd (vision-based patient monitoring) and Telit Cinterion Ltd (IoT enablement). The company, with registered offices at 55 Athol Street, Douglas, Isle of Man, maintains a rigorous selective approach without a separate investment manager and has historically targeted technology, life sciences, biotechnology and resource sectors. In October 2024, Adams announced a strategic shift to cease new investments due to deteriorating UK small-cap market liquidity and limited capital base, proposing cancellation of AIM trading (approved by shareholders on 27 November 2024 and effective 5 December 2024), an orderly realization of existing portfolio investments and return of capital to shareholders over the short to medium term via distributions as funds permit, followed by voluntary wind-up or administrative dissolution; recent activity included £0.21 million new investment in NCC Group Plc, realizations yielding £0.39 million from Afrenta Plc, Tremor International Ltd and partial sales of Seeing Machines and Niox, with net assets of £4.98 million or 3.42 pence per share at 31 March 2024.