Origo Partners PLC Asset Sale (8953Z)

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RNS Number : 8953Z

Origo Partners PLC

27 January 2022

27 January 2022

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

Sale of Six Waves Inc.

Origo has sold its entire interest in Six Waves Inc., a Hong Kong based gaming company. The buyer was that company's majority shareholder. The cash consideration of USD 2,182,543 has been received. Origo had invested USD 240,000 in Six Waves Inc. in 2012 and had carried the asset at nil.

In accordance with Origo's previously announced strategy, Origo will return to shareholders all excess capital. 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.

Further announcements will be made in due course.

Ends

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

 
Origo Partners plc              55 Street 
 John Chapman                    Douglas 
 Chairman                        Isle of Man IM1 1LA 
Nominated Adviser and Broker 
 Arden Partners plc 
 Richard Johnson                [phone] 
 

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) Dow Jones Newswires

January 27, 2022 10:16 ET (15:16 GMT)