Print   

Thursday 13 March, 2008

Origo Sino-India PLC

Placing and trading update

Origo Sino-India PLC
13 March 2008

13 March 2008

Origo Sino-India PLC

Investment by GLG Funds and Trading Update

Origo Sino-India Plc ('Origo' or the 'Company') (LSE: OSI), the investment and
strategic consulting company focused on the private equity markets of China and
India, is pleased to announce that funds managed by GLG Partners LP ('GLG
Funds') are investing approximately £17.1 million in the Company via a placing
of new ordinary shares (the 'Placing'). Following completion of the Placing, GLG
Funds will have a 29.6% interest in the Company's issued ordinary share capital.

The Company also announces today a trading update including the intent to expand
its asset management and consultancy activities in the current year.

Investment by GLG Funds

The Company has agreed to place 28,286,499 new ordinary shares with GLG Funds,
raising approximately £17.1 million (equivalent to an average Placing price per
share of approximately 60.4p). Following completion of the Placing, GLG Funds
will own approximately 28.9 million ordinary shares in Origo, representing a
29.6% interest in the Company's issued ordinary share capital. The Placing for
Origo was undertaken by Liberum Capital Limited, as financial adviser and
broker.

The net proceeds of the Placing are expected to be used for new portfolio
investments, including co-investment opportunities with Origo Resource Partners
Limited ('ORP'), the AIM and CISX listed fund focused on the private equity
opportunities related to the Chinese and Indian natural resource sectors, to
which the Company provides consultancy services, and for general working capital
purposes.

In addition, Origo and GLG Partners LP have signed a memorandum of understanding
to explore asset management and advisory opportunities in China, India and other
markets. Moreover, Origo and GLG Partners LP have entered into an agreement
whereby Origo will provide GLG Partners LP research services for a period of
three years for a fee of £3 million.

The Placing is conditional on shareholder approval and a circular and notice of
extraordinary general meeting are expected to be sent to shareholders later
today. Admission of the new ordinary shares to trading on the AIM is accordingly
expected to be on 31 March 2008.

Trading Update

Origo's directors are pleased with the progress of the Company during 2007, a
milestone of which was the launch into asset management activities with the
successful fundraising for ORP. The Company intends to expand its asset
management activities in the current year, building on the opportunities arising
from its presence in the China and India private equity markets.

The Company's portfolio investments have also performed well during 2007, with
appreciations in the values of a number of Origo's investments. In particular,
the Directors expect the Company's holding in the Chinese security software
company, Rising Technology, to be valued in the Company's accounts for the year
ended December 31, 2007 at a substantial uplift to its initial cost of US$7
million.

The Company expects to publish its accounts for the year ended December 31, 2007
in early May 2008.

Commenting on today's announcements Chris Rynning, CEO of Origo, said:

'We are extremely proud and excited to attract a shareholder such as GLG to
Origo and we are looking forward to work with GLG to expand both their and our
business in China and India.'
                                      ENDS

Further information:

Origo Sino-India PLC                                 +86 1390 124 6417
Chris Rynning
chris@origoplc.com

Nominated Adviser:
Smith & Williamson Corporate Finance Limited         +44 (0)20 7131 4000
Azhic Basirov

Financial Adviser and Broker:                        +44 (0)20 3100 2223
Liberum Capital Limited                                      
Simon Atkinson

Public Relations:                                    +44 (0)20 7321 0000
Aura Financial
Michael Oke/Andy Mills

Notes to editors:

Origo Sino-India Plc ('Origo'):

• Origo is an established private equity investor and strategic
consultancy business, which provides its shareholders with exposure to growth
opportunities and private equity returns in China and India.

• Origo's business model is to generate capital gains from private
equity investment in growth companies from which it also generates fees for
consultancy services related to further fundraisings, M&A and strategic
development.

• Origo is aligned with two major institutions which provide a source of
high quality deal flow. In China, Origo works closely with China Equity, a
leading private equity firm, whose chief executive is a member of Origo's board.
In India, Origo has entered into a memorandum of understanding with SBI Capital
Markets, one of the longest established companies in the Indian Capital Markets.
A former chairman of State Bank of India is also a member of the board of Origo.

• On its admission to AIM in December 2006 Origo raised £12.8 million
gross of new money via a placing of 25,673,238 Ordinary Shares at 50 pence per
share. Each Ordinary Share carried a warrant exercisable at 55p.

• Origo has a significant portfolio of investments in a range of
industrial sectors, such as: mobile applications and content; natural resources;
furniture; food and beverage; online gaming; anti-virus software; and bio
energy.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

Investegate takes no responsibility for the accuracy of the information within the site.


The announcements are supplied by the denoted source. Queries about the content of an announcement should be directed to the source. Investegate reserves the right to publish a filtered set of announcements. NAV, EMM/EPT, Rule 8 and FRN Variable Rate Fix announcements are filitered from this site.



Investegate      © 2012 FE. All rights reserved.