22 Aug 2016 16:36
22 August 2016
Origo Partners PLC
("Origo" or the "Company")
Further Update re Isle of Man Court Proceedings
Origo announced on 19 August 2016 that, following extensive discussions with its key shareholders and further to the proposed restructuring of the Company's share capital set out in the circular sent to shareholders in January 2016, a revised set of proposals (the "Proposals") has been agreed which will be put to shareholders for their approval.
As previously announced by the Company on 25 July 2016, a trial to consider a claim to the Isle of Man court seeking an order to wind-up the Company on the grounds that it is just and equitable to do so and/or for relief under section 180 of the Isle of Man Companies Act 2006 (the "Claim") was set down for Monday 22 August 2016, Tuesday 23 August 2016 and Wednesday 24 August 2016.
The Company is now pleased to announce that, with the agreement of the parties, and in light of the Proposals to be put to shareholders, which, if approved, will amongst other things settle the Company's ongoing dispute in relation to the Claim, the Isle of Man court has agreed to stay proceedings in relation to the Claim until further order, with an update to be sent to the court by 4pm on 30 September 2016.
Further information on the Proposals will be set out in a circular which will be sent to Origo's shareholders as soon as is practicable convening the necessary shareholder meetings.
For further information about Origo please visit www.origoplc.com or contact:
Origo Partners plc Niklas Ponnert |
niklas@origoplc.com
|
Nominated Adviser Smith & Williamson Corporate Finance Limited Azhic Basirov Ben Jeynes
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+44 (0)20 7131 4000 |
Public Relations Aura Financial Andy Mills
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+44 (0)20 7321 0000 |