![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Origo Res. Wts | LSE:ORPW | London | Ordinary Share | GG00B296ZD06 | WTS TO SUB FOR ORD |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9834P Origo Resource Partners Limited 13 March 2008 13 March 2008 Origo Resource Partners invests in Fomento International Ltd and Staur Aqua Origo Resource Partners Limited ("ORP" or "the Fund") announces the successful completion of its third and fourth investments. ORP has agreed to invest up to US$20 million in Fomento International Ltd ("FIL") and approximately US$1 million in Staur Aqua A/S ("Aqua"). Investment in FIL The Fomento group is a leading Indian privately held vertically integrated mining group with operations in the iron ore rich states of Goa, Karnataka and Maharashtra. The investment in FIL will, following the intended consolidation of the Fomento group companies, provide the Fund's shareholders with exposure to the strong market for iron ore via a group with a 50 year operating record and significant opportunities for further production growth. The companies which operate as the Fomento group had in aggregate as at 31 March 2007 an unaudited net asset value of approximately 4,882 million Indian rupees and unaudited profits before tax for the period then ended of approximately 3,048 million Indian rupees (approximately US$121.3 million and $75.8 million respectively, based on current exchange rates). The investment in FIL will be made using the Company's existing cash resources. Origo Sino India PLC ("Origo"), the AIM listed private equity investment and advisory company which provides consultancy services to ORP, has an existing 3 percent. shareholding in FIL. In connection with the transaction, Origo has indicated its intent to exercise its co-investment right to subscribe for US$3 million out of the US$20 million allocation for ORP on the same terms and conditions as the Fund. On completion, ORP will hold a 5.1% interest in FIL and the investment by Origo will equate to an additional 0.9% interest in that company. Investment in Staur Aqua Staur Aqua A/S is a special purpose holding vehicle which holds around 43.8 percent. of Aqualyng A/S ("Aqualyng"). Aqualyng builds and operates desalination plants on long-term contracts with minimum volume commitments. Having commissioned turnkey desalination plants across Europe, the Middle East and Asia, the company has secured several new projects in the last year. Origo previously acquired a 4.8 percent interest in Staur Aqua A/S for a total equity and subordinated debt investment of approximately US$1million and has now agreed to transfer this investment at cost to the Fund as set out in the Fund's admission document. In addition, Origo will assign to the Fund any further co-investment rights with Aqualyng in developing the latter's business in Asia. The transaction is subject to normal conditions for a transaction of this kind and is expected to complete in March. Commenting on today's announcement, Chris Rynning, Executive Director said: "The admission document for the Fund identified a pipeline of opportunities available for investment and I am pleased to announce our continued progress with today's news of investments in these two companies. Our success in capturing these investments underlines the Fund's strategy and highlights the potential for future value creation." ENDS Further information: Origo Resource Partners Limited +86 1390 124 6417 Chris Rynning chris@origoplc.com Nominated Adviser: Smith & Williamson Corporate Finance Limited +44 (0)20 7131 4000 Azhic Basirov Broker: Liberum Capital Limited +44 (0)20 3100 2223 Simon Atkinson Public Relations: +44 (0)20 7321 0000 Aura Financial Michael Oke/Andy Mills This information is provided by RNS The company news service from the London Stock Exchange END MSCSFSFWESASEFD
1 Year Origo Res. Wts Chart |
1 Month Origo Res. Wts Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions