22nd Jan 2021 16:27
Origo Partners PLC - investment company - Says investee Celadon Mining Ltd takeover by controlling shareholder is not year completed. Back in June, Origo Partners said Celadon has agreed on the terms to sell that company's assets but that the closing is contingent on travel restrictions being lifted in some Asian countries. Those restrictions have not yet been lifted thereby preventing the transaction from closing.
Similarly, due to the travel restrictions, investee Gobi Coal & Energy Ltd sale process has not come to fruition yet. Gobi Coal has additionally informed Origo Partners that it will likely need to raise additional capital to see that process to conclusion.
Current stock price: 0.16 pence, up 32% on Friday
Year-to-date change: up 9.9%
By Evelina Grecenko; [email protected]
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