Schedule 1 - Origo Sino-India Plc
27 Novembre 2009 - 10:51AM
UK Regulatory
TIDMOSI TIDMORP TIDMORPW TIDMOSIW
RNS Number : 1940D
AIM
27 November 2009
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| ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN |
| ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") |
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| |
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| COMPANY NAME: |
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| Origo Sino-India plc |
| |
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| COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING |
| ADDRESS (INCLUDING POSTCODES) : |
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| 4th Floor |
| One Circular Road |
| Douglas |
| Isle of Man |
| IM99 3NZ |
| |
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| COUNTRY OF INCORPORATION: |
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| Isle of Man |
| |
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| COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE |
| 26: |
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| www.origoplc.com |
| |
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| COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF |
| AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION |
| IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE |
| STATED: |
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| The merger of Origo Resource Partners plc and Origo Sino-India plc (the |
| "Company") is considered a reverse take-over under AIM Rule 14. |
| Investing policy |
| The Company invests predominately in privately held companies across |
| various sectors of |
| China's economy, and in companies and assets with connections to the |
| Chinese market, with the Company's objective being to provide shareholders |
| with above market returns, primarily through capital appreciation. |
| In terms of stage, the Company generally pursues three kinds of |
| opportunities: |
| - investments in pre-IPO opportunities, where the Company can add value |
| through providing assistance in relation to restructuring, international |
| expansion and the listing on a domestic or foreign stock exchange; |
| - profitable, expansion stage companies requiring financing to meet |
| working capital requirements, expansion capital and/or as capital to |
| finance merger and acquisition opportunities; and |
| - selected earlier-stage companies, which demonstrate compelling prospects |
| for fast-growth and paths to profitability. |
| At its present level of capitalisation, the Company is unlikely to commit |
| in excess of $20 million to any single investee company at the time of |
| investment. For early-stage opportunities, initial commitments may be less |
| than $1 million. While the Company does not have any set gearing policy |
| (although it does not expect to be highly geared at an enlarged group |
| level) investee companies, directly or indirectly, may themselves have |
| outstanding borrowings. The Company currently carries out its own |
| commercial due diligence in respect of potential investments (and engages |
| professional advisers for specialised tasks such as legal, financial and |
| technical due diligence) but may outsource this process over time. |
| In addition to investing predominately in privately held companies, the |
| Company may, in its absolute discretion, hold or invest in publicly traded |
| shares, quasi-equity and/or debt instruments, including convertible or |
| non-convertible debt securities coupled with warrants and/or options, |
| which may or may not represent shareholding or management control. The |
| Company plans to allocate no more than 20 per cent. of available cash |
| resources to investment in publicly traded equities. |
| The Company seeks to be an active investor and to make minority |
| investments. To the extent possible, minority investments are structured |
| so as to ensure adequate minority protection rights, including but not |
| limited to board participation (via a board director/observer), membership |
| of supervisory, audit and oversight committees, as well as specific veto |
| rights over key corporate decisions. In addition, the Company generally |
| dedicates at least one other nominee who, together with the board |
| director/observer, is responsible for assisting the investee company on |
| matters such as building and augmenting the management team, implementing |
| relevant corporate governance and financial control procedures, defining |
| and executing a growth and financing strategy, introducing suitable |
| partners and business opportunities and matters related to future |
| fund-raisings, acquisitions or exit considerations. |
| The holding period for investments is expected to vary depending on the |
| type of investment, the particular circumstances of the relevant investee |
| company, and the intended exit route. The holding period for pre-IPO and |
| expansion stage investments is targeted at between 9 and 24 months and |
| for earlier stage investments at between 24 and 48 months. There is |
| currently a limited spread of investments but this may change if the |
| Company raises additional debt or equity capital. |
| |
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| DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO |
| TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, |
| nominal value and issue price to which it seeks admission and the number |
| and type to be held as treasury shares): |
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| Ordinary Shares of GBP0.0001 each. Number of shares - TBC |
| |
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| CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET |
| CAPITALISATION ON ADMISSION: |
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| No capital to be raised; anticipated market capitalisation - TBC |
| |
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| PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
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| TBC |
| |
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| DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY |
| HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM |
| SECURITIES) ADMITTED OR TRADED: |
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| None |
| |
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| FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining |
| the first name by which each is known or including any other name by which |
| each is known): |
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| Chris Andre Rynning (Chief Executive Officer) |
| Karl Niklas Ponnert (Chief Financial Officer) |
| Wang Chao Yong (Executive Chairman) |
| Christopher Martin Jemmett (Non-Executive Director) |
| Dipankar Basu (Non-Executive Director) |
| |
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| FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A |
| PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION |
| (underlining the first name by which each is known or including any other |
| name by which each is known): |
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| Currently |
| GLG Partners LP - 29.59% |
| British Steel Pensions - 5.51% |
| Origo Sino-India Employee Benefit Trust - 5.23% |
| Merrill Lynch - 5.10% |
| Bullfrog Holdings Limited - 4.97% |
| Nortrust Nominees Limited - 4.70% |
| Progressive Asset Management - 4.16% |
| Wellington Management Company - 3.58% |
| After Admission |
| TBC |
| |
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| NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, |
| PARAGRAPH (H) OF THE AIM RULES: |
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| Each of the following persons being consultants and contractors to the Company has received those fees detailed below from the Company within the 12 months prior to 10 November 2009 |
| Aura Financial LLP |
| Capita Registrars |
| Limited |
| City Continental |
| Finance |
| Dougherty Quinn Limited |
| Jiayou International |
| Holdings Ltd |
| Jonathan Leslie |
| Salzer Consulting Pte |
| Ltd |
| Seymour Pierce Limited |
| Sinohigh Investment |
| Corporation |
| Summit Global Holdings |
| Limited |
| |
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| * ANTICIPATED ACCOUNTING REFERENCE DATE * |
| DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS |
| BEEN PREPARED (this may be represented by unaudited interim financial |
| information)* |
| DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM |
| RULES 18 AND 19: |
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| (i) 31 December |
| (ii) 30 June 2009 |
| (iii) 30 June 2010, 30 September 2010 and 30 June 2011 |
| |
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| EXPECTED ADMISSION DATE: |
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| 14 December 2009 |
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| NAME AND ADDRESS OF NOMINATED ADVISER: |
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| Smith & Williamson Corporate Finance Limited |
| 25 Moorgate |
| London |
| EC2R 6AY |
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| NAME AND ADDRESS OF BROKER: |
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| Liberum Capital Limited |
| CityPoint |
| 10th Floor |
| One Ropemaker Street |
| London |
| EC2Y 9HT |
| |
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| OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR |
| INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A |
| STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE |
| ADMISSION OF ITS SECURITIES: |
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| Smith & Williamson Corporate Finance Limited |
| 25 Moorgate |
| London |
| EC2R 6AY |
| |
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| DATE OF NOTIFICATION: |
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| 27 November 2009 |
| |
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| NEW/ UPDATE: |
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| New |
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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