7th Sep 2009 11:11
07 September 2009
Origo Sino-India PLC
Portfolio company management appointment
Origo Sino-India ("Origo" or "the Company"), the investment and strategic advisory company focused on the private equity markets of China and India, is pleased to announce the secondment of Alan Matthews, Managing Director of Corporate Finance, to IRCA Holdings Limited ("IRCA"), one of Origo's portfolio companies. IRCA is a global provider of health and safety, environmental and enterprise risk management services.
Alan, who will be the Executive Chairman of IRCA, will be responsible for overseeing and implementing IRCA's strategic and business development, including corporate acquisition and funding strategies. Alan maintains his position within Origo and remains an Origo employee.
Origo works closely with its portfolio companies to support their expansion and development in order to create value for shareholders. IRCA, which is rapidly building an international presence across five continents, benefits from significant intellectual property as well as a large staff of experienced professionals and is well placed to play a role in the consolidation of the industry.
Alan, who has over 20 years' experience in investment banking and is a Chartered Accountant, brings his extensive financial background to IRCA and will work alongside the current management team, especially in conjunction with Carel Labuschagne, Chief Executive of IRCA. Carel has more than 30 years' experience in operational health and safety risk management services.
IRCA has already expanded significantly in 2009 through the merger of Inveritas Global Holdings Limited and IRCA Pty Limited to create IRCA, the acquisition of a controlling stake in a key software supplier located in India and the acquisition of a controlling stake in IRCA Middle East.
Chris Rynning, Chief Executive of OSI said:
"I am confident that, working alongside the existing management team, Alan will play an important role in the development of IRCA as a leading global provider of health and safety, environmental and enterprise risk management services. This development is typical of Origo's approach to working with investee companies and is a key element of our ability to create value for our shareholders."
Further information:
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Origo Sino-India PLC Chris Rynning Niklas Ponnert
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+86 1390 124 6417 +86 1351 106 1672 |
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Nominated Adviser: Smith & Williamson Corporate Finance Limited Azhic Basirov / Siobhan Sergeant
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+44 (0)20 7131 4000 |
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Broker: Liberum Capital Limited Simon Atkinson
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+44 (0)20 3100 2222 |
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Public Relations: Aura Financial Andy Mills / Nina Legge |
+44 (0)20 7321 0000 |
Notes to editors:
Origo Sino-India PLC ("Origo")
Origo is an established 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 financial institutions which provide a source of high quality deal flow. In China, Origo works closely with China Equity, a leading private equity firm, whose Chief Executive is a member of Origo's board. In India, Origo has entered into a memorandum of understanding with SBI Capital Markets, one of the longest established companies in the Indian Capital Markets. A former chairman of the State Bank of India is also a member of the board of Origo.
Through a placement of new Origo ordinary shares in March 2008, funds managed by GLG Partners LP invested approximately £17 million bringing their total stake in Origo to approximately 29.6% of the Company's outstanding share capital.
Origo also signed a memorandum of understanding with GLG Partners LP in March 2008 to explore asset management and advisory opportunities in China, India and other markets.
On its admission to AIM in December 2006 Origo raised GBP12.8 million gross of new money via a placing of 25,673,238 Ordinary Shares at 50 pence per share. Each ordinary share carried a warrant exercisable at 55p.
Origo has a significant portfolio of investments in a range of industrial and service sectors, including mobile applications and content; natural resources and affiliated services; art and paper products; furniture; food and beverage; online gaming; anti-virus software; and bio energy.
Related Shares:
OPP.L