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  5. Niutech Divestment

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Niutech Divestment

17 Jan 2019 07:00

RNS Number : 3213N
Origo Partners PLC
17 January 2019
 

NOT FOR RELEASE IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OTHER THAN THE UNITED KINGDOM

 

17 January 2019

Origo Partners plc

Sale of Shares in Niutech Energy Limited

 

Origo Partners Plc has sold its remaining interest in Niutech Energy Limited for approximately USD 2.1 million and has received 90 per cent of the sale proceeds with the remainder due upon the fulfillment of certain conditions. The sale price was at a discount of 20% to book value, partially reflecting depreciation of the RMB as against the US dollar since the last reporting period. Origo Partners Plc expects to use the proceeds of this sale for general corporate purposes.

 

Ends

 

For further information about Origo Partners plc please visit www.origoplc.com or contact: 

 

Origo Partners plc

John Chapman

Chairman

 IOMA House

Hope Street

Douglas

Isle of Man IM1 1AP

Nominated Adviser and Broker

Arden Partners plc

Steve Douglas

Ben Cryer

Tom Price

 +44 (0)20 7614 5900

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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