OPP.L Regulatory News (OPP)

3 Jun 2009 07:00



3 June 2009

Origo Sino-India PLC

Acquisitions by RMWAH

Origo Sino-India PLC and Origo Resource Partners Ltd are pleased to announce that R.M.Williams Agricultural Holdings ("RMWAH"), the recently formed Australian agricultural business in which they own a combined 39 percent shareholding, has entered into agreements to acquire two agricultural properties in Queensland and the Northern Territory. 

RMWAH's strategy is to build a vertically integrated agricultural company focused on operating prime farmland and, through strategic partnerships, to develop a diversified portfolio of businesses supplying a range of premium branded organic meat and grain products to both local and international markets.

Welltree acquisition

Welltree is a 39,100 hectare property and cattle-station operation situated on natural flood plains close to the major export port of Darwin in Northern Territory Australia. 

RMWAH plans to develop Welltree into a year-round finishing depot for cattle awaiting export to Asia, thereby forming a platform for consolidating high-quality, under developed pastoral properties in the Northern Territory.

Beyond revenues from the feedlot operation, Welltree is expected to generate additional income streams through complementary activities such as aquaculture and environmental securitisation.

Inglewood Farms acquisition

Inglewood Farms is Australia's leading producer of organic, free-range chicken.

With quality infrastructure, a well-known brand, and a strong distribution network, Inglewood Farm will supplement RMWAH's existing aggregation of organic feed producing properties on the Warrego river system. According to the Organic Federation of Australia the Australian organic industry is worth approximately AU$1 billion per annum. 

Both transactions are subject to customary closing conditions. The total value of the transactions has not been publicly disclosed.

Commenting on the announcement Chris Rynning, CEO of Origo-Sino India Plc and Executive Director of Origo Resource Partners Ltd, said:

"These two transactions illustrate RMWAH's ability to rapidly build an integrated agricultural company, positioned to serve both domestic and international export markets." 

"The acquisitions will expand RMWAH's asset base and business scope, and provide an attractive potential mix of long-term capital appreciation and nearer term cash-flow generation." 

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