OPP Origo Partners Plc

TIDMOPP TIDMOPPP

RNS Number : 4073P

Origo Partners PLC

25 May 2018

NOT FOR RELEASE IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OTHER THAN THE UNITED KINGDOM

25 May 2018

Origo Partners plc ("Origo")

China Rice Asset Impairment

Origo Advisors Limited has informed the Board of Directors of Origo that Dechun Grain Processing Company Ltd. ("DGP") is party to a court order made by the Liaoyuan City Intermediary Court, under which DGP's assets are to be sold to satisfy obligations to a local branch of ICBC in connection with the alleged nonpayment of a debt. DGP is a PRC registered company that holds the operating assets of Origo's China Rice investment. Origo has retained counsel to advise on Origo's remedies in connection with this action. Origo's board believes that this development has substantially impaired the value of Origo's investment in China Rice, which on Origo's most recently published financial statements was carried at US$31.4 million. Further announcements will be made in due course.

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Ends

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

 
Origo Partners plc             IOMA House 
 John Chapman                   Hope Street 
 Chairman                       Douglas 
                                Isle of Man IM1 1AP 
Nominated Adviser and Broker 
 Arden Partners plc 
 Chris Hardie 
 Ben Cryer                      +44 (0)20 7614 5900 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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May 25, 2018 12:30 ET (16:30 GMT)

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