Fibregen Share Discussion Threads

[asparks] 18/7/2008 14:06

well this is very sad. at least my losses here are being offset buy a huge rise in my holing of ASG. Its up 265% today - yes two hundred and sixty five percent after partnership and funding news!!!

[bubface] 18/7/2008 13:28

correct they are effectively holding as collateral

[the shuffle man] 18/7/2008 12:50

Nice find so is Halo valued at nearly $100m.

Also was this not trf to ST Peters Port and if anything was received by them for this company it would reduce the deferred consideration.

[bubface] 18/7/2008 12:37

Origo Sino-India PLC
Investment in HaloSource

Origo Sino-India Plc ("Origo" or the "Company") (LSE: OSI) is pleased to announce a new
investment in conjunction with Origo Resource
Partners Limited ("ORP" or "the Fund"), in HaloSource, Inc. ("HaloSource" or "the group"), a
clean technology group focused on water
treatment and anti microbial fabric treatment.

Origo and ORP have entered into an agreement to acquire a combined equity stake of
approximately 11% (on a fully diluted basis) in
HaloSource for an investment of US$10 million, through the issue of new HaloSource shares.
Origo and ORP will also, as part of the
investment, receive warrants on a 1 for 4 basis, to subscribe for further equity at the
subscription price. The investment, which is being
satisfied through the respective existing cash resources of OSI and ORP, will be split on a
30:70 basis between the Company and the Fund in
accordance with the pre-existing co-investment agreement between the two entities. Origo and
ORP are joined in this funding round by
existing investors, including Unilever Technology Ventures, a fund managed by Physic Ventures.
Under the terms of the agreement, Origo and
ORP will together be entitled to appoint one director to the board of HaloSource.

Founded in 1998, HaloSource has invented, developed and commercialised technologies used
in water purification, water clarification and
antimicrobial textile coatings used to kill germs and viruses on towelling, bed linen and
clothing. Based on technology developed at
Auburn University and the University of California, HaloSource has a strong base of
intellectual property and know-how, with over 100 global
patents granted or pending. HaloSource has its head quarters in Seattle with manufacturing
facilities in Raymond (near Seattle), Bangalore
and a newly commissioned factory in Shanghai. HaloSource's products are branded and
trademarked and the group has a rapidly growing
customer list drawn from leading global businesses.

For the year ended 31 December 2007, HaloSource reported a revenue increase from
continuing operations of 30%, generated through organic
growth. During this development period Halosource did not generate a net profit. The group's
highest growth revenue stream is based on water
purification at point of use, at a price point which makes the technology available to lower
income households in geographies such as China
and India - where a shortage of drinking water and water related diseases are serious health
issues. Origo intends to assist HaloSource,
specifically in extending channels to market and advising on operational issues in these
territories. The directors of Origo believe
HaloSource's proven business model and management team will enable it to grow significantly as
demand for its three distinct businesses
increases throughout the developing and the developed world.


The transaction is subject to normal closing conditions for a transaction of this type and
is expected to complete later this month.

Commenting on today's announcement Chris Rynning, CEO of Origo, said:

"We continue to identify opportunities across a series of fast-growing sectors including
the water purification & treatment industry,
which will help to meet rapidly growing demand in China and India."

"Our investment in HaloSource underlines our focus on working with fast-growing companies
where our business development expertise can
help to bring about a step change in performance. We look forward to working with the highly
experienced management team that HaloSource has
assembled to capture the significant growth opportunities available."

ENDS

HaloSource
HaloSource has three businesses, each with distinct brands:
* "HaloPure" - kills all germs and bacteria to provide safe drinking water. Aimed at
both developing and developed economies in a
variety of applications.

* "SeaKlear" - provides germ-free, clear water for swimming pools, water parks and
other recreational water environments - and
"StormKlear" - cleaning of industrial and storm water.

* "HaloShield" - an enabling germ and virus-killing technology that has application on
toweling products, applications in medical
textiles, and military applications.




halosource is one of the holdings transferred back to the company as security against st peter port...least somebody likes them!!!

[asparks] 18/7/2008 12:26

tt2 is a liar

[stbro] 18/7/2008 12:21

From the FT today:
Savage reaction
...the lack of interest in small companies doing well is as nothing to the savagery of the market reaction when things go wrong. Take FibreGen, formerly known as Libra Natural Resources, which has grandiose plans to become the world's number 1 producer of wood pellets.On June 20 it raised £1.6m through a placing at 30p a share. On July 10 it announced that a minority shareholder in Canadian subsidiary was exercising a put option that would cost the company £4m, and that a US acquisition made only in April was being asked by its banks to provide additional security. The shares plunged 68% to less than 10p. The announcement was followed on Tuesday by another outlining the sale of some assets to Evergreen Sec, an AIM investment vehicle headed by Peter Greensmith, the former chief executive of Libra who resigned as a non-executive director of FibreGen on July 4. It also announced the deferral of £3.1m of the put option to July next year, and warned it would have limited working capital avalable. The shares fell 41% to 3.62p, leaving it with a marlet cap of £1.3m or less than it raised on June 20.

The market needs such a story as a hole in a head.....................

[asparks] 18/7/2008 12:17

TT2 where's the promised emails?

[bubface] 18/7/2008 10:43

WF that is why i said orderly disposals i realise that the administrators would not be the best way to resolve this situation.

[asparks] 18/7/2008 09:13

there should be prison sentences for the directors IMO

[madengland] 18/7/2008 09:05

I agree with Sidney that is.

[madengland] 18/7/2008 09:04

Totally agree.

[asparks] 18/7/2008 09:03

TT2

"well i have been assured tonight there is still a business"

OH REALLY! WHERE ARE THE EMAILS YOU NUTTER

[bubface] 18/7/2008 07:59

best thing they can do is stay suspended and organise an orderly sale of all assets themselves,my guesstimate assets £15-£17m liabilities £11-£12m.could leave ord equity value of £3m plus worth 14p. maybe i'm a bit too bullish!

[etarip] 18/7/2008 07:54

If they do go into administration will it be posted as an RNS as they are now suspended from the AIM or just notified to shareholders?

[jailbird] 18/7/2008 07:16

SUPERB!

I guess TT2 knew that was coming via the emails...LOL

[westythedon] 17/7/2008 23:33

what inspector clouseau

[sg31] 17/7/2008 22:46

TT2,you fall for it every time...there is a business but we will not own it.

[turbotrader2] 17/7/2008 22:29

well i have been assured tonight there is still a business

LOL

[biggerbil] 17/7/2008 21:52

The problem is not the assets, it is the liabilities.