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Basically winding down the company, there is no more value here and no point flogging a dead horse:
https://origopartners.com/wp-content/uploads/sites/42/2023/06/OPP-Liquidation-Circular.pdf
Shareholders should not expect any further distributions. However, in the unlikely event that there are
surplus assets of sufficient value to distribute following the settlement of the Company’s liabilities, the
Liquidator will distribute the Company’s surplus assets to Shareholders pro rata to their shareholdings
and in accordance with the rights attached to their shares. Any surplus not deem
Anyone still out there ?
https://origopartners.com/category/shareholder-communications/regulatory-announcements/
Unsure what to vote for .
https://origopartners.com/category/shareholder-communications/regulatory-announcements/
Me too with AJ, That now concludes this trade for me, small numbers but not a bad % profit for a year hold, I didn’t manage to buy the absolute lows or sell the highs but happy with what I got.
Still think Something could still happen but im off to different pastures.
resolving / redeeming / converting the preference shares is the key to cash shell riches here but that was just my theory and dreams, the official stance is still sell assets, distribute proceeds and wind down listing.
Tbh Thought id see a few auto reinvest the divs which could make it jump a tad.
Good luck
thanks for the reminder, just checked on ii and mine came in yesterday :)
Hi itisagame,
I've just received the divs through free-trade.
Cheers
Gromshy
Thanks Gromshy, thought I’d check as they said 22nd,
I haven't with AJ bell yet.
Hi Itisagame,
I'm with Freetrade and not received the Div's yet.
cheers
Gromshy
Anyone got their div yet?
Ex div day, hence drop, 0.07p per share will be paid to shareholders by end of next month.
Was just looking for any celadon mining ltd mentions, cant find anything new, the following came up
---------------------
Lord Ponsonby of Shulbrede's full title is The Lord Ponsonby of Shulbrede. His name is Frederick Matthew Thomas Ponsonby, and he is a current member of the House of Lords.
Category 4: Shareholdings (b)
Celadon Mining Ltd (coal) (interest ceased 13 April 2021)
https://members.parliament.uk/member/3154/registeredinterests
---
quite interesting seeing what the lords reported as held
https://www.parliament.uk/globalassets/documents/publications-records/house-of-lords-publications/records-activities-and-membership/register-of-lords-interests/register160521.pdf
Corporate message, just confirming the RNS
Origo Partners Plc has announced a return of capital. This means that your account will be credited with a cash payment, which will be treated as capital for tax purposes.
Under the terms of the return of capital, your account will be credited with USD0.00095 for each share held as of the ex-entitlement date, 17 February 2022.
For further information, please copy and paste the following link into your web browser:
https://www.londonstockexchange.com/news-article/OPP/return-of-capital-and-asset-sale/15311759
Your account is expected to be credited with the cash proceeds on or around 22 March 2022.
Please be advised in some circumstances there may be delays in the proceeds being credited to us from our custodian. Please allow 10 working days for your account to be updated.
this payout will be 80% of what I paid for this position so that's good!
If it wasn't for these preference shares, we'd be mooning right now.
But still confused as to why the price has dipped today given ex date is later this month?
Thats why I’ve held it so long, return of capital from the assets gets my investment back (this distribution is half what I paid), and im then left with a listing that could do just that, but I expect the wind down to complete if there wasn’t preference shares And they were ords I’d have been more confident about shell route. Very few shells now and a dying breed of listing.
There's also the possibility of the Company turning into a cash shell with massive losses on the books. Wouldn't that be tempting for a new company wishing to launch and using the losses to reduce taxes?
Or is this not how it work?
Lol an unexpected ~0.075p being returned to shareholders from assets valued at zero being sold and it drops.
Celadon is the bigger fish that’s waiting to be sold still, if it sells for $4.2m based on this distribution then we get ~0.15p back from that.
That would be ~0.23p returned, then a dribble of other misc assets and a bit of cash left in company.
Spread was down to 0.02p briefly the other day, back to 83% today, bloody joke.
Ordinary shares get 20% of :
$1.4m cash in bank
$2.18m from six flags, just received
$270k from gobi
Then
Moliword still up for sale
Oh and Celadon still waiting for “ If this occurs the Company would receive approximately USD 4.2 million. ”
A little bit of running costs and legal but >£500k to distribute to us ord holders currently and if moly and celadon sell, another chunk of a similar amount.
It’s set for a wind up process and The preference shares restrict it, but once assets are sold and cash divd out who knows, would take someone buying out the preference shares or atleast doing a deal to merge the two and obtain a majority voting right to secure a listing, it’s a bit of hard work but doable, wether it’s worth it to someone who knows.
I have pondered why no ones interested in reversing into this and buying up the shares. Any one have any logic here?
I’m still hoping they dish out the cash and then someone wants control of a clean shell listing for just £100/200k of capital investment
was hoping to break even at .30 but i am just happy that something has happened as this share had died since xmas , no activity
20% of it so at £/$ 1.3 maybe ~£330k back to shareholders from this, bit of cash in bank and few other bits and bobs to sell, maybe get the 0.1p back.
please feel free to correct me as not been in this situation before.
so fag packet cals/guess is we will get 0.0008 per share back ?
20% of $2.1m shared by 359m shares.
Any one agree or am i barking in the wrong forest ??