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I'm not saying that... There are others on the board who have said "Cash alone values this at 0.54p" Just making you all aware that actually the cash in the bank values this at 0.12p as you have to take the prefs into consideration who are entitled to 80% of everything up to $15m.
Gone back thru trades for Friday there were a lot of buys in the millions that were over .4
I know the spread is deceiving but I think more going on here then what we can see all the best TPM
We are at 0.25 so can’t be that difficult and went to 0.43 Friday
You telling me it can’t get back to them Friday highs now ??
The company need to raise $7.5m to underpin a £1.2m (0.3p sp) mcap.
Forget the politics all I want to know is in time will I get great returns as in at 0.30
What is the time scale chaps with the news we are waiting for
Up until 2016 it was laid out as such::
" The accreted principal amount per CZDP be reset to US$1.28. In the event that aggregate distributions equal to the aggregate CZDP accreted principal amount (US$1.28 per CZDP) have not been made to the holders of the CZDPs ("CZDP Shareholders") by 31 December 2017, the remaining aggregate undistributed accreted principal amount shall increase at an accrued rate of return of 5% p.a. from 1 January 2018 and at an accrued rate of return of 10% p.a. from 1 January 2019 until repaid through distributions to CZDP Shareholders;
· Origo's ordinary shareholders ("Ordinary Shareholders") to receive a proportion of all future distributions alongside CZDP Shareholders, pro rata as follows:
- in respect of the first US$40 million of distributions, 87.5% to CZDP Shareholders and 12.5% to Ordinary Shareholders;
- in respect of the next US$40 million of distributions, 70% to CZDP Shareholders and 30% to Ordinary Shareholders;
- in respect of distributions in excess of US$80 million:
o until such time as distributions equal to the accreted capital amount have been made to the CZDP Shareholders, 30% to CZDP Shareholders and 70% to Ordinary Shareholders; and
o thereafter, 100% to Ordinary Shareholders.
From 2016:
The Proposals would restructure the convertible zero dividend preference shares ("CZDPs") and would provide Origo with greater flexibility to implement its orderly realisation strategy with a view to maximising value on behalf of Origo's shareholders. The key elements of the Proposals include the following:
· The removal of the requirement for the Company to redeem US$12 million CZDPs and the removal of any final CZDP redemption date.
· The accreted principal amount per CZDP be reset to US$1.0526. No rate of return on the CZDPs will begin to accrete until 1 January 2018. In respect of each CZDP still in issue on 1 January 2018, its principal amount of US$1.0526 shall be subject to the accretion of a rate of return equal to 4% per annum from 1 January 2018 to the date on which such CZDP is redeemed. Such return will accrue on a simple and not compound basis.
· Origo's ordinary shareholders ("Ordinary Shareholders") to receive a proportion of all future distributions alongside CZDP Shareholders, as follows:
- in respect of the first US$15 million of distributions, 80% to CZDP Shareholders and 20% to Ordinary Shareholders;
- in respect of distributions in excess of US$15 million:
o until such time as all CZDPs have been redeemed in full, 44% to CZDP Shareholders and 56% to Ordinary Shareholders; and
o thereafter, 100% to Ordinary Shareholders.
In Short...
The company need to redeem $15m at a 20/80% split with the ZDPF's and then this becomes attractive. Ords would be entitled to £2.2m if the $15m was raised.
Hence... why it has a 0.9m mcap!!
Hope this helps.
By the looks of it you guys haven't accounted for the preference shares... I suggest you do some more research as the preference shares are entitled to 80% of all proceeds up to (circa) $12/$13m, the preference shares are not listed on the exchange so your "Mcap" is off.
Only after this $12/$13m amount has been paid that this then becomes an attractive as the ords % will increase. Ords would only be entitled to circa $2.8m for any amounts received by the company up to $12/13m.
Suggest you go back a few years and look at the revised articles of association. Been a few years since I researched this so above figures might be off slightly as all done from memory.
Top read and great findings, just hold now for when the RNS lands
The exchange rate since last June has favoured the dollar ($), so Celadon, instead of receiving $47m, they will get over $50.8m at today's currency exchange rate of RMB 330m sale.
In June 2020, If Origo was to receive $4.2m (£3.03m) from the $47m (RMB 330M) sale in June 2020.
At today's rate they will be getting $4.54m (£3.28m) instead, from the sale $50.8m (RMB 330).
An increase of almost 10% from last year .
The fair value of Celadon on Origo accounts, last june was $1.129m, they will be receiving 4x that from the sale $4.54m (£3.28m).
They also have £1.9m cash from their last accounts, since last June, they have not done anything since, just waiting to sell both their holding in Celadon and Gobi Coal & Energy, which is out of their control.
They are liquidating their assets to return proceeds to shareholders.
Current share price at Close of Business Friday 06 2021 was 0.025p
Shares in issue: 358,746,814
Market Cap 0.9m
Shares Traded on Friday 185m, almost 52% of company traded on Friday alone.
40% not held in public hands
Assets
£1.9 cash
£3.28m from Celadon when sold
£0.2m fair value of Gobi Coal & Energy asset
Total Assets = 5.38m
MARKET CAP ONLY 0.9m, this is less than half of their cash equivalent £1.9m
and is 6 times less than their total assets.
Share price should be 0.53p at the very least equal to their cash equivalent of £1.9m
Current Price only 0.25p
https://origopartners.com/category/shareholder-communications/aim-rule-26/
FOLLOW UP
22 Jan 2021
"As noted in the Company's 12 June 2020 RNS, Celadon's controlling shareholder has represented that Celadon has entered into an agreement on the terms set forth in that RNS to sell that company's assets but that the closing is contingent on travel restrictions being lifted in certain Asian countries. Those restrictions have not yet been lifted thereby preventing the transaction from closing."
https://www.proactiveinvestors.com/LON:OPP/Origo-Partners/rns/922006
June 12 2020
"The Company has been informed by the controlling shareholder of Celadon Mining Ltd. (“Celadon”) that Celadon has entered into an agreement with a third party to sell Celadon’s assets for approximately RMB 330 million net to Celadon or approximately $47 million (“the net sale proceeds”)."
"The controlling shareholder then expects to return the net sale proceeds to Celadon’s shareholders through a share buyback. If this occurs the Company would receive approximately USD 4.2 million."
"The Company invested approximately USD 13.1 million in Celadon in 2011. In the Company’s last published accounts dated 30 June 2019, the Celadon investment was carried at a “fair value” of $1.129 million."
https://www.share-talk.com/origo-partners-plc-opp-l-investment-update-update-re-celadon-transaction/#gs.vezmrv
Thanks
Yes good reading and in time when they receive there money it will fly, just a waiting game as can’t sell now as locked in due to price
Thanks
Akramms posted this yesterday. It’s all about volume, if Monday opens positively and the volume is steady it could head north, I’m holding at a loss. It could of course retrace further, and I can only sit on my hands and practice the art of patience.
https://www.share-talk.com/share-talk-bulletin-board-heroes-friday-5th-march-2021/#gs.uq0q52
I’ve changed the thread.
Try PI (link Below) light reading but gives an insight as to what’s being going on, assets, cash etc.
https://www.proactiveinvestors.com/LON:OPP/Origo-Partners/
So we are not doomed with this share then, just waiting for RNS and can you please explain what we are owed and should see a return in the near future
With you now, I read the RNS's and there was a delay due to COVID and restrictions on travel to execute the deal I believe.
You're not alone, I'm in and will remain so until news. Assets and Cash alone value the company more than what the SP reflects.
ShareTalk did a short piece on this yesterday (someone posted the link) and if volume continues I think there was a target of 0.08. Fingers crossed......
No not confirmed but was due by last year end as per rns hopefully good timing or I have bought on a spike ouch
TPM, has this been confirmed?
Monday the money from the asset sale arrives all good let's hope
Ha ha
Most of them sold at a loss tho pal
Let’s hope for a mad rise on Monday pal
Total disgrace how a share can go to 100 percent and drop 100 percent in a day
Mother ffffffff the mms
Think this can do anything or a classic pump and dump looking at a 100 percent rise then a drop to minus 5.6 lol
its not ... the advertised spread might say 0.20 - 0.30 but the actual spread is more like 0.222 - 0.25
????????
Total disgrace the MMS today, love to say what I really think and why the spread so big
At cost value should be sitting at 0.53p as the lowest, based on £1.9m cash alone.
at this level can still 1 bag, as current price 0.275p
Opinion Hold / Buy