First day of dealings
14 December 2007 - 7:00PM
UK Regulatory
RNS Number:8668J
Origo Resource Partners Limited
14 December 2007
Origo Resource Partners Limited ("ORP" or "the Company")
First day of dealings on AIM and CISX
Origo Resource Partners Limited today announces that it has raised �48.6 million
(before expenses) through a placing of ordinary shares at a price of �1 per
share.
The Company's 48,600,000 ordinary shares and 9,720,000 warrants to subscribe for
ordinary shares have today been admitted to trading on AIM. The ordinary shares
will trade under the ticker symbol "ORP" and the warrants under the ticker
symbol "ORPW". The Company's ordinary shares and warrants will also be admitted
to and traded on CISX, the Channel Islands Stock Exchange.
ORP is a newly incorporated Guernsey company whose principal objective is to
provide shareholders with capital appreciation primarily from investments in
equity and equity-linked instruments in private, unlisted companies whose
primary business is related to the natural resource sectors of China and India.
The Company is a self-managed fund with day to day investment management
activities being undertaken by Chris Rynning and Niklas Ponnert, the Executive
Directors of the Company who are also directors of the AIM quoted investment and
strategic consultancy company Origo Sino-India plc ("OSI"). The services of the
Executive Directors together with various support services will be provided by
Origo Advisors Limited ("the Investment Consultant") under the terms of an
Investment Support Agreement. The Investment Consultant has in turn delegated
certain of its duties to OSI.
Initially, ORP will be offered investment opportunities to invest in 11
companies in relation to which which OSI has entered into letters of intent,
term sheets and/or conditional share subscription agreements. In total, the
existing pre-vetted deal flow exceeds US$100 million worth of investment
opportunities. Each of these advanced stage proposed investments stem from OSI's
partnership approach to the management teams of the investee companies through
the provision of early stage funding and advice.
The Placing for ORP was undertaken by Liberum Capital Limited, as financial
adviser and broker to ORP. Smith & Williamson is acting as Nominated Adviser to
ORP.
Nigel Taylor, non-executive Chairman, commented: "We believe that there are a
number of very interesting investment opportunities related to the Chinese and
Indian natural resource sectors and we are pleased to enable investors to
participate in these. We are very encouraged by the level of investor interest
shown during the fundraising."
Chris Rynning said: "The fundraising will enable Origo Resource Partners to make
the most of private-equity opportunities in the resources sector relating to
India and China, both those we have identified and others. The Origo Sino-India
business model, combining provision of capital and consultancy services to
fast-growing companies, ideally places ORP to benefit from the phenomenal growth
of these two economies."
Placing Statistics:
Placing Price �1
Number of Ordinary Shares being issued pursuant to the Placing 48,600,000
Number of Warrants being issued pursuant to the Placing 9,720,000
Expenses of the Placing payable by the Company �2.5 million
Net proceeds of the Placing receivable by the Company �46.1 million
Market capitalisation at the Placing Price �48.6 million
Enquiries:
Origo Resource Partners Chris Rynning +86 1390 124 6417
chris@origoplc.com
Smith & Williamson Corporate Azhic Basirov +44 (0)20 7131 4000
Finance Joanne du Plessis
Liberum Capital Simon Atkinson +44 (0)20 3100 2223
Capital MS&L Peter Curtain +44 (0) 20 7307 5330
James Madsen james.madsen@capitalmsl.com
About ORP:
The Company will invest in the natural resource sector, broadly defined to
comprise metals and minerals, forestry and agriculture, forest products such as
paper and pulp, water, fossil based fuels (such as oil, coal and gas), and
alternative energies (such as bio-energy, wind, hydro, thermo and solar power).
The Company will seek investment opportunities across the value-chain of each of
these sub-sectors, encompassing resource acquisitions, extraction, refinement
and beneficiation; value-added manufacturing; build, own, operate and transfer
models; and technologies, solutions and services related thereto.
The Company will seek to invest in three types of investments: (i) pre-IPO
opportunities, where the Company can add value through providing assistance in
relation to restructuring, international expansion and the listing on a domestic
or foreign stock exchange; (ii) profitable, expansion stage companies needing
equity financing to meet working capital requirements, as expansion capital and/
or as capital to finance merger and acquisition opportunities; and (iii) special
situations and co-investment opportunities alongside strategic partners to fund
resource acquisitions and/or green-field operations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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