Origo

Legal Proceedings Report • May 25, 2018

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RNS Number : 4073P

Origo Partners PLC

25 May 2018

NOT FOR RELEASE IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OTHER THAN THE UNITED KINGDOM

25 May 2018

Origo Partners plc ("Origo")

China Rice Asset Impairment

Origo Advisors Limited has informed the Board of Directors of Origo that Dechun Grain Processing Company Ltd. ("DGP") is party to a court order made by the Liaoyuan City Intermediary Court, under which DGP's assets are to be sold to satisfy obligations to a local branch of ICBC in connection with  the alleged nonpayment of a debt.  DGP is a PRC registered company that holds the operating assets of Origo's China Rice investment.  Origo has retained counsel to advise on Origo's remedies in connection with this action.  Origo's board believes that this development has substantially impaired the value of Origo's investment in China Rice, which on Origo's most recently published financial statements was carried at US$31.4 million.  Further announcements will be made in due course. 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Ends

For further information about Origo please visit www.origoplc.com or contact: 

Origo Partners plc John Chapman Chairman	IOMA House Hope Street Douglas Isle of Man IM1 1AP
Nominated Adviser and Broker Arden Partners plc Chris Hardie Ben Cryer	+44 (0)20 7614 5900

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