2 Feb 2022 07:00
02 February 2022
Origo Partners Plc
("Origo" or the "Company")
Return of Capital and Asset Sale
Origo Partners Plc announces a return of capital of approximately USD 1.7 million to shareholders of record as at 18 February 2022 with payment to be made in US Dollars on or around 22 March 2022. Pursuant to the Company's Articles of Association, eighty per cent of that amount will be distributed to the holders of the Company's redeemable preference shares at USD 0.02386 per redeemable preference share and twenty per cent of that amount will be distributed to the holders of the Company's ordinary shares at USD 0.00095 per ordinary share.
Following an auction process, Origo has entered into a contract to sell its entire interest in Moly World to Moly World's controlling shareholder for a cash consideration of USD 200,000. The contract requires an initial payment of USD 100,000 which has now been received. The balance of USD 100,000 is due on completion which is on or before 31 March 2022. Origo had invested USD 10 million in Moly World in 2011 and had carried the interest at nil.
Ends
For further information about Origo please visit www.origopartners.com or contact:
Origo Partners plc John Chapman Chairman | 55 Athol Street Douglas Isle of Man IM1 1LA |
Nominated Adviser and Broker Arden Partners plc Richard Johnson | +44 (0)20 7614 5900 |
The information contained within this announcement is deemed by the Company to constitute inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.