4th Feb 2020 15:40
(Alliance News) - Origo Partners PLC on Tuesday said the possible sale of investee Celadon Mining Ltd to a third party will not proceed.
The stock was 28% lower in afternoon trade in London at 0.13 pence a share.
The investment company explained that "a third party has served a demand for arbitration on Celadon, which has dissuaded the purported buyer from proceeding".
In addition, Celadon's controlling shareholder has provided temporary loans of USD104,000 to the company, in order to sustain its operations, Origo said. The terms of these loans have not been disclosed.
By Evelina Grecenko; [email protected]
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