27 October 2022
Origo Partners Plc ("Origo" or "the Company")
Shareholder Update
The Company has sold its entire interest in Celadon Mining Ltd ("Celadon") to the promoter for USD 50,000 as compared to that asset's last reported carrying value of USD282,000. In various announcements over a period of years, the Company has referred to representations from the promoter that an asset realization was imminent. No sale has materialized, and based on available information the Company cannot now foresee a future monetization of that asset. The Company's interest in Celadon has been for sale for several years in accordance with the Company's announced strategy of selling assets and returning excess cash to shareholders, and, besides this bid, the Company has received no offers for the asset.
The Company's plan to wind up has been delayed because of the possibility of inclusion in a pending Australian class action in connection with the Company's investment in R. M. Williams, a now defunct Australian agricultural company. The Company hopes to provide further details on this situation and its possible monetary ramifications for shareholders before the end of the year.
Ends
For further information about Origo please visit www.origopartners.com or contact:
| Origo Partners plc John Chapman Chairman |
55 Athol Street Douglas Isle of Man IM1 1LA |
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