OPP.L Regulatory News (OPP)

14 Jun 2007 11:35

Origo Sino-India PLC14 June 2007 Origo Sino-India plcRNS & MEDIA RELEASEJune 14, 2007 ORIGO COMPLETES INVESTMENT IN FANS MEDIA Leads Series-A Round with US$2,000,000 investment Origo Sino-India PLC ("Origo") (LSE:OSI), the investment and strategic advisorycompany focused on the private equity markets of China and India, announcedtoday that it has completed a US$2,000,000 equity investment in Fans Media Ltd("Fans Media" or "the Company"). Fans Media and its' affiliated companies operate www.ifensi.com, one of China'sleading entertainment sites. Adhering to the slogan "You're the star,"www.ifensi.com is dedicated to linking fans with their favourite artists, moviestars, and celebrities. On March 12, Origo issued a bridge note of US$500,000 in favour of Fans Media,convertible into preferred stock of the Company upon the closing of an equityfinancing round. Shortly thereafter, on April 2, Origo announced that bothparties had entered into an equity transfer agreement, under which Origo agreedto transfer all of its shares in m-ikon Ltd to Fans Media in consideration forordinary stock in the Company. Fans Media has been demonstrating healthy growth since receiving the Origobridge financing. www.ifensi.com now has close to eight million registeredusers, up from around five million at the beginning of the year. As of June 15,Alexa.com, the internet traffic information site, ranks www.ifensi.com among the600 most popular websites in the world in terms of traffic, compared to aposition below the 1500 mark back in the month of March. Meanwhile, Fans Mediahas kept on winning repeat advertising contracts and expanding its customerbase, which now includes brands such as Nike, Nokia, P&G, Johnson & Johnson,Sony Ericsson, Motorola among others. Origo led Fans Media's Series-A financing round in the form of a freshcash-injection of US$1,500,000 in addition to converting the outstandingUS$500,000 bridge note. China Equity International Holding Company Ltd, acompany controlled by Origo's Chairman Wang Chao Yong and a seed-investor inFans Media, provided a follow-on investment of US$500,000, bringing the totalamount of the round to US$2,500,000. With the consideration for the transfer ofthe m-ikon shares, Origo assumes an equity position in the order of 16% of thefully-diluted equity capital of the Company. The completion of this investment brings the amount of equity commitments made by Origo since its IPO in December 2006 to US$10,500,000. The value of outstanding equity-linked notes issued by Origo to its portfolio companies since that date currently stands at just above US$1,500,000. Commenting on the investment, Chris Rynning, Origo's CEO said: "Fans Media is one of few Chinese websites that showcase substantialrevenue-traction with marginal customer acquisition cost. We've been positivelyencouraged by the progress the Company has made this spring, both in terms ofgrowing its' user base and acquiring new advertising clients, and we havetherefore decided to lead the Company's Series A round." END For further information please call: Christopher Joll/Tim McCall, MJ2 020 7491 7776 Notes to Editors 1. Origo Sino-India plc ("Origo"): • Origo is an established and profitable private equity investor and strategic consultancy business, which provides its shareholders with exposure to growth opportunities and private equity returns in China and India. • Origo's business model is to generate capital gains from private equity investment in growth companies from which it also generates fees for consultancy services related to further fundraisings, M&A and strategic development. • Origo is aligned with two major institutions which provide a source of high quality deal flow. In China, Origo works closely with China Equity, a leading private equity firm, whose chief executive is on Origo's board. In India, Origo has entered into a memorandum of understanding with SBI Capital Markets, one of longest established companies in the Indian Capital Markets. A former chairman of SBI is on the board of Origo. • At the AIM Placing in December 2006 Origo raised £12.8 million gross of new money via a placing of 25,673,238 Ordinary Shares at 50 pence per share. Each Ordinary Share carries a Warrant exercisable at 55p. Seymour Pierce Ltd is the nominated adviser and broker. 2. Fans Media Company Ltd ("Fans Media"): • Fans Media Company Ltd (BVI), and its affiliated companies, own and operate www.ifensi.com (note to the editor: "fensi" is the Chinese character for "fan"). Adhering to its slogan "You Are the Star!" the mission of ifensi.com is to bring Chinese speaking audiences across Greater China closer to their favourite stars and celebrities. • www.ifensi.com offers China's online audience one site for accessing entertainment content and related services: (1) entertainment news and information, syndicated from third party sources and in-house and created by the site's own journalist; (2) multimedia content and services, such as online radio and live streaming video interviews; (3) social networking, discussion forums, and blogs. • Fans Media team was founded by Wang JiPeng, a well-known Chinese media commentator and co-founder of Bokee.com, a prominent Chinese blog site. The management stands out in that it brings together executives with a unique blend of media and entertainment experience coupled with online execution abilities, gained from previous positions with the top Chinese online portals including Sina.com, Sohu.com and Tom.com among others. • Fans Media's business model combines Web 1.0 and Web 2.0 elements. By creating and aggregating information, content and services around famous entertainment properties, the site attracts traffic, new users and eyeballs. Through interactivity and community features built on blogging and SNS technology, the site ensures there is a recurrent feed-back loop of original user-created content, creating further customer appeal and stickiness. • Fans Media's has established strategic relationships with China Central Television ("CCTV") and Beijing Television ("BTV"); its roster of advertising clients include top-notch multinational brands such as Nike, Nokia, P&G, Johnson & Johnson, Sony Ericsson, Motorola among others This information is provided by RNS The company news service from the London Stock Exchange