Shonaid Jemmett-Page, Chairman of Origo, commented:
"The directors of Origo are delighted to report the outcome of the Meetings and the approval of the Proposals by the requisite majorities of the Company's ordinary and CZDP shareholders. This brings to an end a significant period of uncertainty and expense for the Company and its shareholders. With the resumption of trading of the Company's shares on AIM, the restructuring of the Company's share capital and the resolution of the disputes with Brooks Macdonald, Origo is in a significantly improved position to deliver its Investing Policy of divesting the Company's entire portfolio by November 2018."
Did I read this correctly - the date above that .......portfolio by November 2018 - not a mistake is it??
for us? given that the first tranches of cash from any realisation go to the brook macdonald people, under the agreed terms, i think we might start to see value realisations that benefit us in h2 2017/h1 2018. BUT the NAV will be marked up ahead of that from current utterly depressed level. So, I hope we move back towards 10p earlier in 2017. Things could go wrong - we need the macro to stay in tact - but we could also be +vely surprised by a particular juicy realisation price or some positive news out of mongolia (where things have been very difficult). the gearing of marginal assets like kincora to movements in sentiment and commodity prices is huge. hence things can happen very very quickly in terms of share price with a portfolio of assets like Origo's. good luck!
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