Origo Partners PLC Return of Capital and Asset Sale (3911A)

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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                [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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February 02, 2022 02:00 ET (07:00 GMT)