Origo Partners PLC (OPP.L) Investment update – Update re Celadon Transaction

The Company has been informed by the controlling shareholder of Celadon Mining Ltd. (“Celadon”) that Celadon has entered into an agreement with a third party to sell Celadon’s assets for approximately RMB 330 million net to Celadon or approximately $47 million (“the net sale proceeds”).

With closing scheduled for the earlier of (i) the lifting of certain restrictions on travel in connection with the global pandemic or (ii) 31 December 2020.

The controlling shareholder then expects to return the net sale proceeds to Celadon’s shareholders through a share buyback. If this occurs the Company would receive approximately USD 4.2 million.

The Company invested approximately USD 13.1 million in Celadon in 2011. In the Company’s last published accounts dated 30 June 2019, the Celadon investment was carried at a “fair value” of $1.129 million.

The Company has not been involved in the negotiations for the sale of the Celadon assets and has no direct insight into whether closing will occur as planned. Further announcements will be made in due course.


For further information about Origo please visit www.origoplc.com

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.