Origo Partners PLC Partial Niutech Divestment (4328E)
February 09 2018 - 4:12AM
UK Regulatory
TIDMOPP TIDMOPPP
RNS Number : 4328E
Origo Partners PLC
09 February 2018
Origo Partners plc
("Origo" or the "Company")
Partial Niutech Divestment
Origo Partners Plc is pleased to announce the indirect sale of a
4.7% beneficial interest in Jinan Heng Yu Environmental Protection
Technology Co., Ltd. ("Heng Yu"), the operating company of Niutech
Energy Ltd., to Chinese institutional and other investors, for net
cash proceeds of RMB 18.8 million (approximately US$3.0
million).
It is expected that the repatriation of the sale proceeds will
take several months. The agreed sale price implies a valuation of
Origo's interest in Niutech in line with its carrying value as at
30 June 2017.
The cash receipts will be applied towards Origo's working
capital requirements with any remainder set aside for retiring debt
and distributions to Origo's shareholders.
Origo continues to hold a 7.2 % indirect interest in Heng
Yu.
For further information about Origo please visit
www.origoplc.com or contact:
Origo Partners plc
Niklas Ponnert niklas@origoplc.com
Nominated Adviser and Broker
Smith & Williamson Corporate
Finance Limited
Azhic Basirov
Ben Jeynes +44 (0)20 7131 4000
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLIFIAFAIAIIT
(END) Dow Jones Newswires
February 09, 2018 04:12 ET (09:12 GMT)
Origo Partners (LSE:OPP)
Historical Stock Chart
From Apr 2024 to May 2024
Origo Partners (LSE:OPP)
Historical Stock Chart
From May 2023 to May 2024