Origo Partners PLC Investment Update (8270B)
04 Febbraio 2020 - 08:00AM
UK Regulatory
TIDMOPP TIDMOPPP
RNS Number : 8270B
Origo Partners PLC
04 February 2020
NOT FOR RELEASE IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC
AREA
4 February 2020
Origo Partners Plc
Update re Celadon Mining Ltd.
Origo Partners Plc ("the Company") announces that Celadon Mining
Ltd. ("Celadon") has informed the Company that its possible sale to
a third party will not proceed because a third party has served a
demand for arbitration on Celadon, which has dissuaded the
purported buyer from proceeding as Celadon had earlier reported.
Celadon has further noted that its controlling shareholder has
provided "temporary loans amounting to USD 104,000 in order to
sustain the Company's operations." The terms of these "temporary
loans" have not been disclosed. The Company notes that it provided
background in both the 2018 annual report and 2019 interim accounts
as to some of the issues Celadon faced in concluding a sale. In the
Company's most recent published audited financial statements
Celadon had been carried at USD 1.129 million.
Ends
For further information about Origo please visit
www.origoplc.com or contact:
Origo Partners plc IOMA House
John Chapman Hope Street
Chairman Douglas
Isle of Man IM1 1AP
Nominated Adviser and Broker
Arden Partners plc
Richard Johnson
Ben Cryer +44 (0)20 7614 5900
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
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END
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