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Placing Completion

16 Feb 2011 07:00

RNS Number : 3029B
Origo Partners PLC
16 February 2011
 



16 February 2011

 

Not for release, publication or distribution in whole or in part, in or into the United States, Canada, Australia, South Africa or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction.

 

 

For immediate release

 

Origo Partners plc

("Origo" or "the Company")

 

Origo completes placing of Convertible Preference Shares

 

Further to the Company's announcement of 28 January 2011, the Company announces that it has conditionally raised $60 million, before commissions and expenses, by way of the placing (the "Placing") of 60 million new redeemable, convertible, zero-dividend preference shares (the "Convertible Preference Shares"). The Convertible Preference Shares were placed with investors at a price of $1.00 each.

 

The net proceeds of the Placing are intended to be used, in conjunction with the Company's existing cash resources, to fund new identified value enhancing investment opportunities.The Placing is conditional, inter alia, upon the approval of Shareholders at a General Meeting to grant the Directors authority to issue the Convertible Preference Shares on a non-pre-emptive basis, and which is expected to be held at the registered office of the Company at 4th Floor, One Circular Road, Douglas, Isle of Man IM99 3NZ at 10.00 a.m. on 7 March 2011.

Application will be made to the London Stock Exchange for the Convertible Preference Shares to be admitted to trading on AIM. Admission of the Convertible Preference Shares to trading on AIM is expected to commence on or about 8.00 a.m. 8 March 2011.

The Company will be posting to shareholders today an admission document attaching a notice convening the General Meeting, which will also be available on the Company's website at www.origoplc.com.

 

 

Contacts:

Origo Partners plc

Chris Rynning

(chris@origoplc.com)

Niklas Ponnert

(niklas@origoplc.com)

 

 

+86 1390 124 6417

 

+86 1351 106 1672

Nominated Adviser and Broker

Liberum Capital Limited

Simon Atkinson / Richard Bootle

 

+44 (0)20 3100 2222

Public Relations

Aura Financial

Andy Mills / Nina Legge

+44 (0)20 7321 0000

 

About Origo Partners plc: 

 

Origo is an established private equity investor and strategic consultancy business, which provides its shareholders with exposure to growth opportunities and private equity returns based on the China growth story.

 

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 has a significant portfolio of investments in a range of industrial sectors, including metals and mining, agriculture, renewable energy/clean tech and technology, telecom and media ("TMT"). 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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