Keyword results: Origo Partners

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ShareProphets China AIM 'Filthy Forty' performance update, September – another has fallen…& yet more to follow?

Following our previous update May & another suspended, how’s the latest developments with the (few) remaining ShareProphets China AIM 'Filthy Forty'?...

OPP
OPP

AIM fraud Origo Partners – hero John Chapman puts the boot in to ex board, crooked advisors, ex Nomad in excruciating detail

Fraud Origo Partners (OPP) is one of the few remaining stocks of our AIM-China Filthy Forty. One might wonder if there is hope given that it is still here but Chairman John Chapman has offered up its FY18 accounts which are truly dreadful (again) and his chairman’s letter is pretty explicit as to why. In short, Origo shows everything that is wrong with AIM: the transfer of wealth from the many (shareholders) to the few. Read it and weep Marcus Stuttard, the head of AIM and Sham Sheriff – this is your system.

Crime-Scene

Norwegian E24 goes after Chris Rynning (formerly of F40 Origo) - part 6: now Danske Bank's due diligence comes under the microscope

E24 in Norway has been having a right old go at Chris Rynning, the former boss of AIM-listed Origo Partners (OPP), having found that large amounts of cash disappeared into tax havens and investors in Origo were left wth almost nothing. In this latest episode, E24 looks at Danske Bank, which went in with NOK 0.9 million to Rynning’s venture fund, Nhack, to help entrepreneurs in China. But this year, like Innovation Norway, Danske Bank terminated the relationship.

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ShareProphets China AIM 'Filthy Forty' performance update – October & the results season wasn't pretty

Following a corporate results season, here's a October ShareProphets China AIM 'Filthy Forty' performance update...

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Filthy Forty – results deadline looms, will there be yet more casualties?

Since there are now just seven companies remaining of the original forty, and with the end of September coming up I thought it high time to have a gander across the remains of the ShareProphets AIM-China Filthy Forty.

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ShareProphets China AIM 'Filthy Forty' update – further more than half our index not 'Geong, Geong', but Gone…

Just over two months on since our previous update and two more ShareProphets China AIM 'Filthy Forty' companies have followed Geong International and co in 'Geong, Geong' and then gone - and another has been suspended...

Crime-Scene

ShareProphets China AIM 'Filthy Forty': Easter 2016 update - more 'Geong, Geong' & set to be 'Gone'…

Another month, more ShareProphets China AIM 'Filthy Forty' companies set to follow Geong International and co in 'Geong, Geong' and then gone...

OPP
OPP

F40 Origo – a history lesson in reading Admission Documents

ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) remains suspended pending financial clarification as shareholders face a grim high noon in the Isle of Man courts when the majority holder of (now defaulting) zeros looks set to get the company forced into wind-up.

OPP
OPP

F40 Origo Partners: The Noose Tightens

I previously commented (HERE) in the wake of ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) seeing shareholders reject proposals aimed at settling a dispute with the majority holder of its Zeros, Brooks Macdonald, that the company seemed to have a bit of a problem. In particular, one might note that the company had already ‘fessed up that it would not be able to meet scheduled redemptions next month. Now Brooks has made a move as the noose tightens.

OPP
OPP

F40 Origo Partners – is it bag of crisps time? 0p ahoy?

This surely is terrible news for shareholders in ShareProphets AIM-China Filthy Forty play Origo Partners (OPP): an RNS shortly before close of play yesterday saw the announcement of the results of a series of meetings which had been called to consider the restructuring of a series of debts (or, rather, convertible zero dividend preference shares). The holders of the zeros voted it through but, oh dear, those pesky ordinary shareholders did not. The result: Origo could be toast.

OPP
OPP

F40 Origo finally corrects over currency (a week after we did)

ShareProphets AIM-China Filthy Forty member Origo Partners (OPP) announced last week that it had rolled over a loan to $2.5 million loan to TSX-listed Kincora Copper Ltd, but it got the currency wrong (it was CAD$, not US$ as stated). We pointed this out a week ago and yesterday the company (and its Nomad, Smith & Williamson, which no doubt checked and verified last week's foul-up of an RNS very carefully) has finally 'fessed up to the error. Seven days later.

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Filthy Forty (and others) - who is passing these as fit for UK markets? Part 5 - more disaster

Graham Chester continues his stinking series on Reporting Accountants to UK-listed China plays with a look at Team Quigley at Smith & Williamson – the one-stop shop for Chinese companies coming to the UK. How do their clients fare? Er….

OPP
OPP

Filthy Forty Origo Partners updates on US$2.5m loan. Or is it Canadian $?

There seems to be a spot of confusion at ShareProphets AIM-China Filthy Forty member Origo Partners plc (OPP).  Today it updated the market on an outstanding loan of US$2.5 million to investee company Kincora Copper Ltd which due for repayment on 19 July. It has been replaced by a new loan of US$ 2.5 million. The confusion is that in its interims statement, the loan was described as being CAD$2.5 million. There’s a bit of a difference (about 30% at today’s exchange rates, source: Google).

OPP
OPP

Origo Partners – AIM-China Filthy Forty member restructures debt

I flagged HERE that AIM-China Origo Partners (OPP) had a bit of a problem with some zero dividend preference debt. This has now been resolved with the announcement of a restructuring of the liability, subject to various conditions – not least of which is a GM. But still there are Interims to come by tomorrow in order to avoid suspension. Following a 60% decline in net assets as at FY14, will we be once again singing Where has all the money gone?

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