16th Feb 2011 07:00
16 February 2011 |
Not for release, publication or distribution in whole or in part, in or into the United States, Canada, Australia, South Africa or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction.
For immediate release
Origo Partners plc
("Origo" or "the Company")
Origo completes placing of Convertible Preference Shares
Further to the Company's announcement of 28 January 2011, the Company announces that it has conditionally raised $60 million, before commissions and expenses, by way of the placing (the "Placing") of 60 million new redeemable, convertible, zero-dividend preference shares (the "Convertible Preference Shares"). The Convertible Preference Shares were placed with investors at a price of $1.00 each.
The net proceeds of the Placing are intended to be used, in conjunction with the Company's existing cash resources, to fund new identified value enhancing investment opportunities.The Placing is conditional, inter alia, upon the approval of Shareholders at a General Meeting to grant the Directors authority to issue the Convertible Preference Shares on a non-pre-emptive basis, and which is expected to be held at the registered office of the Company at 4th Floor, One Circular Road, Douglas, Isle of Man IM99 3NZ at 10.00 a.m. on 7 March 2011.
Application will be made to the London Stock Exchange for the Convertible Preference Shares to be admitted to trading on AIM. Admission of the Convertible Preference Shares to trading on AIM is expected to commence on or about 8.00 a.m. 8 March 2011.
The Company will be posting to shareholders today an admission document attaching a notice convening the General Meeting, which will also be available on the Company's website at www.origoplc.com.
Contacts:
Origo Partners plc Chris Rynning Niklas Ponnert
|
+86 1390 124 6417
+86 1351 106 1672 |
Nominated Adviser and Broker Liberum Capital Limited Simon Atkinson / Richard Bootle
| +44 (0)20 3100 2222 |
Public Relations Aura Financial Andy Mills / Nina Legge | +44 (0)20 7321 0000 |
About Origo Partners plc:
Origo is an established private equity investor and strategic consultancy business, which provides its shareholders with exposure to growth opportunities and private equity returns based on the China growth story.
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 has a significant portfolio of investments in a range of industrial sectors, including metals and mining, agriculture, renewable energy/clean tech and technology, telecom and media ("TMT").
Related Shares:
OPP.L