12th Mar 2007 10:28
Origo Sino-India PLC12 March 2007 RNS & MEDIA RELEASE12th March 2007 ORIGO MAKES CONVERTIBLE LOAN TO FANS MEDIA CHINA'S LEADING ON-LINE FANS SITE Origo Sino-India PLC ("Origo")(LSE:OSI), the investment and strategic advisorycompany focused on the private equity markets of China and India,announced today that it has executed a US$500,000 Bridge Note in the favor FansMedia Company Ltd. ("Fans Media" or "the Company"). Fans Media and itsaffiliated companies own and operate www.ifensi.com, a leading Chinese onlinefans community. This is Origo's fourth investment of 2007. Under the terms of the Agreement, the Bridge Note is convertible into PreferredStock of Fans Media upon the closing of the Company's Series-A financing roundor repayable in full by April 15, 2007. The Bridge Note is guaranteed by China Equity International Holding Company Ltd, ("China Equity"), a leading Chineseventure capital firm, which is a minority shareholder of both Fans Media andOrigo. The parties are in the process of completing definite agreements, under whichOrigo will be making an equity investment in consideration for a minority stakein the Company. Launched in November 2005, www.ifensi.com, has quickly emerged as China'sleading online site dedicated to linking fans with their favorite artists,movie stars, and celebrities. The site offers fans the opportunity to consume entertainment news, information and multimedia content; produce and shareoriginal content with peers; interact directly with their favorite stars; andnetwork with other like-minded people, both online and offline. Experiencing rapid growth, the site has close to 5 million registered users and has beenranked as China's No.1 vertical online entertainment information provider andis considered the largest online fans community in the country. Commenting, Chris Rynning, Chief Executive Officer of Origo, said: "As has been demonstrated by the tremendous success of MySpace, aggregatingcontent and communities around stars is a viable model for building valuableonline sites. We are pleased to extend this loan to Fans Media and assist the company in completing its Series-A offering, aimed at cementing its leadingposition in this exciting market segment." END For further information please call:Christopher Joll/Tim McCall, MJ2 020 7491 7776 Notes to Editors 1. Origo Sino-India plc ("Origo"): • Origo is an established and profitable private equity investor and strategic consultancy business, which provides its shareholders with exposure to growth opportunities and private equity returns in China and India. • Origo's business model is to generate capital gains from private equity investment in growth companies from which it also generates fees for consultancy services related to further fundraisings, M&A and strategic development. • Origo is aligned with two major institutions which provide a source of high quality deal flow. In China, Origo work closely with China Equity, a leading private equity firm, whose chief executive is on Origo's board. In India, Origo has entered into a memorandum of understanding with SBI Capital Markets, one of longest established companies in the Indian Capital Markets. A former chairman of SBI is on the board of Origo. • Origo has signed agreements with 4 Chinese companies and 7 Indian companies to provide both financing and advisory services and more than 20 potential investments in the pipeline. • At the AIM Placing in December 2006 Origo raised £12.8 million gross of new money via a placing of 25,673,238 Ordinary Shares at 50 pence per share. Each Ordinary Share carries a Warrant exercisable at 55p. Seymour Pierce Ltd is the nominated adviser and broker. 2. Fans Media Company Ltd ("Fans Media"): •Fans Media Company Ltd (BVI), and its affiliated companies, own and operate www.ifensi.com (note to the editor: "fensi" is the Chinese character for "fan") . Adhering to its slogan "You Are the Star!" the mission of ifensi.com is to bring Chinese speaking audiences across Greater China closer to their favorite stars and celebrities. •www.ifensi.com offers China's online audience one site for accessing entertainment content and related services: (1) entertainment news and information, syndicated from third party sources and in-house and created by the site's own journalist; (2) multimedia content and services, such as online radio and live streaming video interviews; (3) social networking, discussion forums, and blogs. •Fans Media team was founded by Wang JiPeng, a well-known Chinese media commentator and co-founder of Bokee.com, a prominent Chinese blog site. The management stands out in that it brings together executives with a unique blend of media and entertainment experience coupled with online execution abilities, gained from previous positions with the top Chinese online portals including Sina.com, Sohu.com and Tom.com among others. •Fans Media's business model combines Web 1.0 and Web 2.0 elements. By creating and aggregating information, content and services around famous entertainment properties, the site attracts traffic, new users and eyeballs. Through interactivity and community features built on blogging and SNS technology, the site ensures there is a recurrent feed-back loop of original user-created content, creating further customer appeal and stickiness. •Fans Media's has established strategic relationships with MTV China and China Central Television ("CCTV"); its roster of advertising clients include top-notch multinational brands such as Nike, Nokia, P&G, Johnson & Johnson, Sony Ericsson, Motorola among others. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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