Origo Partners PLC Return of Capital and Asset Sale (3911A)
February 02 2022 - 2:00AM
UK Regulatory
TIDMOPP TIDMOPPP
RNS Number : 3911A
Origo Partners PLC
02 February 2022
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 55 Athol Street
John Chapman Douglas
Chairman 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.
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END
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