OPP.L Regulatory News (OPP)

26 April 2022

Origo Partners Plc ("Origo" or "the Company")

Cash distribution, Suspension From Trading, and Delisting

On 11 April 2022, Origo was informed that Origo's Nominated Advisor, Arden Partners Plc., was being acquired by a third party and as a consequence would no longer be eligible to act as a Nominated Advisor to AIM companies, including Origo, after 28 April 2022. The implications of this are that as of 28 April 2022 Origo's ordinary and redeemable preference shares ("shares") will be suspended from trading on the AIM market unless Origo appoints another Nominated Advisor.

The Origo board has investigated and considered the implications of retaining another Nominated Advisor in light of where the Company stands today, in particular that it has fulfilled its announced objectives of monetizing all legacy investments that are saleable and returning the proceeds to shareholders. In light of the Company's progress in fulfilling these objectives, the Board has determined that the financial implications of appointing a new Nominated Advisor are not in the best interests of the Company. As a consequence, as at 7.30am on 28 April 2022, Origo's shares will be suspended from trading on AIM and as at 30 May 2022 the admission of Origo's shares to AIM will be cancelled.

In accordance with Origo's previously announced strategy and ahead of 30 May 2022, Origo will announce a payout of all distributable cash and will make that payment as soon as practicable thereafter. Pursuant to the Company's Articles of Association, eighty per cent of any distributable amount will be paid to the holders of the Company's redeemable preference shares and twenty per cent of any distributable amount will be paid to holders of the Company's ordinary shares. Dependent on possible developments concerning Origo's Celadon investment, this will likely be Origo's final distribution.

Following suspension and AIM cancellation, Origo will continue to report to shareholders through the RNS service as well as to post information on its website: www.origopartners.com . Although the shares will remain freely transferable post 27 April 2022, once the shares are suspended from trading there will be no formal mechanism for trading shares. As a consequence, the shares' liquidity and marketability will be significantly reduced and this may affect the value of those shares. In order to enable the transferability of Origo shares following suspension and delisting, Origo's administrator, FIM Capital Limited will provide a Matched Bargain Facility that will enable investors to transact in Origo shares. Mr. Philip Scales who is both a director of Origo and a director of FIM Capital Limited will assume oversight of the Matched Bargain Facility and details of that facility will be forthcoming.

Further announcements will be made in due course.

Ends

For further information about Origo please visit www.origopartners.com or contact: 

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.