Origo Partners PLC Loan Facility (8896Q)
December 05 2016 - 1:45AM
UK Regulatory
TIDMOPP TIDMOPPP
RNS Number : 8896Q
Origo Partners PLC
05 December 2016
5 December 2016
Origo Partners plc
("Origo" or the "Company")
Loan Facility
Origo is a closed-end investment company which holds a portfolio
of investments in unquoted, and illiquid, publicly traded companies
based or principally active in China and Mongolia. Origo is
seeking, through an orderly realisation programme, to divest its
entire portfolio by November 2018.
The Company announces that it has entered into an unsecured loan
agreement with Lars Bader (the "Lender") under which the Lender has
provided the Company with a US$2.5 million (approximately GBP2
million) unsecured loan (the "Facility"). The Facility carries a
rate of return (payable at repayment) of the higher of 12% per
annum (calculated on a non-compounding basis) and 1.5 times the
amount of the Facility.
The Facility is repayable on the earlier of (i) 2 December 2020;
and (ii) when the Company has distributed US$6 million to the
Company's shareholders in accordance with articles 4.10 to 4.12 of
the Company's articles of association ("Articles") provided it has
sufficient funds to repay the Facility. The Company may at any time
prepay the Facility, in whole or in part, without penalty. The
proceeds of the Facility will be applied, in accordance with
article 13.1.1 of the Articles, to discharging Origo liabilities to
professional advisors (excluding those of Origo Advisors Limited)
existing as at 19 August 2016.
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
Public Relations
Aura Financial
Andy Mills +44 (0)20 7321 0000
Special note concerning the Market Abuse Regulation
Certain of the information contained in this announcement is
deemed to constitute inside information for the purposes of article
7 of Regulation (EU) 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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December 05, 2016 02:45 ET (07:45 GMT)
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