ORP Origo Res. (See LSE:OPP)

 

TIDMORP 
 
RNS Number : 7702M 
Origo Resource Partners Limited 
04 February 2009 
 

4 February 2009 
 
 
    Sale of shareholding in Fomento International Ltd 
 
 
Origo Resource Partners Ltd ("ORP" or "the Fund") announces the sale of its 5.1% 
stake in Fomento International Limited ("FIL"), an intended consolidation 
vehicle for international iron ore assets. The stake was sold back to FIL for a 
total cash consideration of US$17 million, the amount invested by the Fund early 
in 2008. 
 
 
After closing of the transaction, which is neutral in terms of its effect on the 
Fund's NAV, as the consideration being received is equal to the value at which 
the investment was held by ORP, ORP will hold no interest in FIL. 
 
 
Commenting on today's announcement, Chris Rynning, Executive Director of ORP 
said: 
 
 
"Given prevailing market conditions, and because no liquidity event seems likely 
in the foreseeable future, we believe it is in the best interests of the Fund to 
divest our position in FIL. ORP intends to deploy these funds to support the 
growth of our current portfolio while selectively considering new opportunities 
which exist in our target markets of India and China." 
 
 
An announcement was also made today by Origo Sino-India Plc, a company which 
provides the Fund with consultancy services, which has also sold its entire 
stake in FIL back to FIL. 
 
 
ENDS 
 
 
Further information: 
 
 
+-----------------------------------------------------+--------------------+ 
| Origo Sino-India PLC                                |  +86 1390 124 6417 | 
| Chris Rynning (chris@origoplc.com)                  |                    | 
|                                                     |                    | 
+-----------------------------------------------------+--------------------+ 
| Nominated Adviser:                                  |  +44 20 7131 4000  | 
| Smith & Williamson Corporate Finance Limited        |                    | 
| Azhic Basirov                                       |                    | 
|                                                     |                    | 
+-----------------------------------------------------+--------------------+ 
| Broker:                                             |  +44 20 3100 2222  | 
| Liberum Capital Limited                             |                    | 
| Simon Atkinson                                      |                    | 
|                                                     |                    | 
+-----------------------------------------------------+--------------------+ 
| Public Relations:                                   |   +44 20 7321 0000 | 
| Aura Financial                                      |                    | 
| Andy Mills / Harry Fielder                          |                    | 
|                                                     |                    | 
+-----------------------------------------------------+--------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 DISUSUKRKKRURRR 
 

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