23rd Dec 2015 08:50
LONDON (Alliance News) - Investment company Origo Partners PLC on Wednesday said it intends to table convertible-share restructuring proposals to its shareholders as early as possible in 2016.
The company is planning to restructure its convertible zero dividend preference shares with the holders of those shares after uncertainty cast doubt that the company could redeem the shares by March 2016.
The company also said progress has been made on its dispute with wealth manager Brooks Macdonald Group PLC, which also relates to the convertible zero dividend preference shares, though it said the talks had been slower than anticipated.
Origo will make further announcements on the planned restructuring in due course.
Origo shares were untraded on Wednesday, having last traded at 1.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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Related Shares:
Brooks MacdonaldOPP.L