Origo Partners Share Discussion Threads

[oxs] 23/8/2018 07:25

If you dont mind me asking, whats your average ?

[zcaprd7] 22/8/2018 21:45

It doesn't make me wonder as I was in before they sorted that mess out! It was actually a decent result as the preference holders were trying to get their mitts on the whole thing...

[oxs] 22/8/2018 21:24

correction: 1.05p is the investment floor & when $12m is payed back to the preference shares, not $15m... thereafter the share is 56% ordinary shares & 46% preference shares.

It does make you wonder how the hell they managed to blag such amazing terms on the preference shares all those years ago.

[oxs] 22/8/2018 20:45

I agree, but thats why the investment case here is actually quite good. The companies NAV for ordinary shares is around 1.5p, then there are other investments that may be sold & legal action on top which the market has not accounted for. 1.5p is the investment floor, anything bellow is good value & if 1 or more of the investments are divested then it will add 0.35p for every £2m made after the $15m is paid back to the preference shares.

[zcaprd7] 22/8/2018 19:38

I was more hoping on legal action against the 100s of million of dollars of money stolen from the company over the years? And no, I don't think that is libellous...

[oxs] 22/8/2018 19:01

If i'm reading everything right... the Nuitech investment makes up almost the whle $14m ??

Which, is clearly one of thre only none (seemingly) ponzi scheme investments.. which given the 20/80 split should value NAV here at around £3m.

Anyone ?

[oxs] 22/8/2018 18:21

I was just using it as an example... $14m or there abouts ? & as you say more if the write downs to 0 turn up trumps.

Eitherhway there is far more value here then the market was accounting for.

[zcaprd7] 22/8/2018 17:32

Where are you getting $20m nav from though?

[zcaprd7] 22/8/2018 17:31

Ahh, yes, and the market cap was in the 100s of thousands yesterday?I suppose there is the possibility of further upside if the China trip goes well, and/or legal action sorts out China rice...

[oxs] 22/8/2018 17:12

or in share price terms after the currency conversion around 1.5p

[oxs] 22/8/2018 17:03

Would actually be more like $6.7m

[oxs] 22/8/2018 16:58

zcaprd7 In relation to the ZDPS from the revised AOA "Available Funds shall be distributed as follows:
4.11.1 in respect of the first $15,000,000 of any Available Funds divided as to:
(a) 80% (i.e. $12,000,000) to the holders of Redeemable
Preference Shares; and
(b) 20% (i.e. $3,000,000) to the holders of Ordinary Shares;
4.11.2 in respect of any Available Funds in excess of the $15,000,000
referred to in Article 4.11.1 divided as to:
(a) 44% to the holders of Redeemable Preference Shares; and
(b) 56% to the holders of Ordinary Shares;
until such time as the Redeemable Preference Shares have been fully
redeemed and thereafter all dividends and other Distributions shall be
paid only to the holders of Ordinary Shares."

So that says 20/80 split... if the NAV is $20m then OPP ordinary shareholders would receive around $5m

[zcaprd7] 24/7/2018 14:25

Kincora has been perky since they sold out?

[zcaprd7] 01/7/2018 17:03

Nav is about $15m, which is all for prefs.... You were right russman.

[russman] 01/7/2018 13:52

Not sure if the tax losses are worth anything.Have they sold or impaired most of the portfolio.

[zcaprd7] 01/7/2018 11:38

Couldn't lim Asia just have made a bid for the whole of opp?

[zcaprd7] 29/6/2018 14:09

Looks like it - market cap is at shell level now - I guess the enormous tax losses are worth something to someone?

[orinocor] 29/6/2018 13:54

Another Chinese fraud listed on AIM

[zcaprd7] 29/6/2018 11:52

Kincora got slagged off as well...

[zcaprd7] 29/6/2018 11:27

Seems fraudulent to me... Interesting the prefs haven't moved.So, the market is saying the ords are worthless, and there will be about $15m to pay the prefs.

[happyyoshie] 29/6/2018 10:02

RNS today of their Annual Financial Report - what's happening here? I skimmed through report as plenty to digest - looks like all investments gone to nil? How many '000millions of this company cannot be accounted for or am I missing something?
Is it bad investments all the past or poor management or channelling money somewhere (to pockets)?
Appreciate anyone more in touch with this company to share their say?

[mally6] 29/6/2018 09:14

IANKN73
chin up chinese comp too much to say

[iankn73] 26/6/2018 16:19

I have a significant holding of Kincora shares built up over many yeara and have also taken advantage of the kincora/OPP overhang over the last number of months. This is a superb price to buy into KCC. IMO

You can buy them from UK TD direct now taken over by ii they are on the Canadian venture exchange.

[zcaprd7] 26/6/2018 15:30

Not a great price, as the market price was smashed to bits by their own overhang...I quite liked kincora, anyone know a broker that's trades it - Hargreaves doesn't.