Origo Sino-India Announcements

RNS Number : 2236D Origo Sino-India PLC 12 September 2008  
?
12 September 2008
Origo Sino-India PLC
Follow-on Investment in E-Bill

Origo Sino-India Plc ("Origo" or the "Company") (LSE: OSI) is pleased to announce a follow-on investment in E-Bill China Holdings ("E-Bill"), a Chinese electronic payment services provider.

Origo has entered into an agreement to subscribe US$700,000 for preferred stock of E-Bill. This equity subscription follows Origo's acquisition, announced in March, of an approximately 5% equity stake in E-bill for US$1.3 million. The follow-on subscription was completed at a 10% premium to the original subscription price, bringing Origo's total equity stake in E-bill, on a fully diluted basis, to approximately 7%. The investment will be satisfied in full using Origo's existing cash resources. 
Headquartered in Shenzhen in the southern Chinese province of Guandong, E-Bill operates "E-piao Tong," a branded electronic payment and delivery network. Available through affiliated retailers, the E-piao Tong service offers consumers a convenient way of settling bills and purchasing digital goods, including mobile-top up vouchers and lottery tickets. By joining the E-Bill network, affiliated merchants are able to reduce inventories, improve cash-flow management and distribute digital goods and services at no marginal cost. 

ENDS

Further information:

Origo Sino-India PLC
Chris Rynning 
chris@origoplc.com

+86 1390 124 6417
Nominated Adviser: 
Smith & Williamson Corporate Finance Limited
Azhic Basirov 

+44 (0)20 7131 4000
Broker:
Liberum Capital Limited
Simon Atkinson 

+44 (0)20 3100 2223
Public Relations:
Aura Financial    
Michael Oke/Andy Mills
+44 (0)20 7321 0000

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 financial 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 the State Bank of India is also a member of the board of Origo.

Through a placement of new Origo ordinary shares in March 2008, funds managed by GLG Partners LP invested approximately £17 million bringing their total stake in Origo to approximately 29.6% of the Company's outstanding share capital.

Origo also signed a memorandum of understanding with GLG Partners LP in March 2008 to explore asset management and advisory opportunities in China, India and other markets. Origo and GLG Partners LP have also 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.

On its admission to AIM in December 2006 Origo raised GBP12.8 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, including mobile applications and content; natural resources; art and paper products; furniture; food and beverage; online gaming; anti-virus software; and bio energy. 
This information is provided by RNSThe company news service from the London Stock Exchange  END  AGRGUUUCBUPRGUG