ORP Origo Res. (See LSE:OPP)

    RNS Number : 4292J
  Origo Resource Partners Limited
  03 December 2008
   

    3 December 2008

                Follow-on investment in Staur Aqua

    Origo Resource Partners Limited ("ORP" or "the Fund") announces it has increased its stake in Staur Aqua A/S ("Aqua" or "the Company")
to approximately 9.2 percent.

    Staur Aqua A/S is a special purpose holding vehicle which controls around 43 percent. of Aqualyng A/S ("Aqualyng").

    Aqualyng builds and operates desalination plants on long-term contracts with minimum volume commitments. The Company is in the process
of delivering plants in Africa, the Middle East and Asia to major municipal water authorities, large corporate and private customers.
Aqualyng's proprietary technology is recognized for its energy efficiency and modular design, consuming only 2kWh of electricity per cubic
metre of fresh water produced, compared to an industry average of 2.2-2.4KWh and recycles as much as 98.5% of the energy used in the
reversed osmosis process. For the nine months ended 31 December 2007, Aqua earned profits before tax of NOK 244,983 and its net asset value
at that date was NOK 38 million.

    Earlier this year, the Fund subscribed for a 4.8 percent equity interest in Aqua and provided subordinated debt for a total investment
amount of approximately US$1 million. ORP has now agreed to acquire a further equity interest in Aqua for a consideration of approximately
NOK 2.5 million (approximately US$350,000), bringing the Fund's total stake in the Company to 9.2 percent. The Fund has also paid NOK 6.5
million (approximately US$0.95 million) to acquire debt instruments in Aqua which have already been issued, and has committed an additional
NOK 11.1 million (approximately US$1.6 million) of debt to Aqua which forms part of a NOK 150 million (approximately US$21.5 million)
convertible debt facility which will be used to further fund Aqualyng's expansion. The investments will be made using the Fund's existing
cash resources. 

    Commenting on today's announcement, Chris Rynning, Executive Director said:

    "Water is a central investment theme for the Fund, and we have identified desalination as a particularly attractive sub-segment in China
and India. Having worked closely with Aqualyng over the last eight months, we are pleased to raise our equity stake, thus providing us with
a more meaningful exposure to this fast growing company." 

    ENDS

    Further information:

 
    Origo Resource Partners Ltd                                        +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    
    Andy Mills/Nina Legge



This information is provided by RNS
The company news service from the London Stock Exchange
 
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