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By Nigel Somerville, the Deputy Sheriff of AIM | Monday 5 December 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
You may have thought that ShareProphets AIM-China Filthy Forty investment company Origo (OPP) had put its troubles behind in and was heading for calmer waters. Having finally resolved its ongoing troubles over payouts on its preference shares, reaching a deal with Brooks Macdonald, and just a couple of weeks ago given a positive update on the progress of its portfolio and realisations, this morning the company announced that it had borrowed $2.5 million with repayment terms the higher of 50% or 12% a year (non-compounded) to discharging Origo liabilities to professional advisors (excluding those of Origo Advisors Limited) existing as at 19 August 2016.
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