Investment in Halosource

    RNS Number : 3990Z
  Origo Resource Partners Limited
  18 July 2008
   

    18 July 2008
    Origo Resource Partners 
    Investment in HaloSource
    Origo Resource Partners Limited ("ORP" or "the Fund") announces its fifth investment since listing in December 2007.  ORP and Origo
Sino-India Plc ("Origo" or the "Company") (LSE: OSI), have agreed to invest in aggregate US$10 million in HaloSource, Inc. ("HaloSource" or
"the group"), a clean technology group focused on water treatment and anti microbial fabric treatment. 

    Origo and ORP have entered into an agreement to acquire a combined equity stake of approximately 11% (on a fully diluted basis) in
HaloSource for an investment of US$10 million, through the issue of new HaloSource shares.  Origo and ORP will also, as part of the
investment, receive warrants on a 1 for 4 basis, to subscribe for further equity at the subscription price.The investment, which is being
satisfied through the respective existing cash resources of Origo and ORP, will be split on a 30:70 basis between the Company and the Fund
in accordance with the pre-existing co-investment agreement between the two entities. Origo and ORP are joined in this funding round by
existing investors, including Unilever Technology Ventures, a fund managed by Physic Ventures. Under the terms of the agreement, Origo and
ORP will together be entitled to appoint one director to the board of HaloSource.  

    Founded in 1998, HaloSource has invented, developed and commercialised technologies used in water purification, water clarification and
antimicrobial textile coatings used to kill germs and viruses on towelling, bed linen and clothing.   Based on technology developed at
Auburn University and the University of California, HaloSource has a strong base of intellectual property and know-how, with over 100 global
patents granted or pending. HaloSource has its head quarters in Seattle with manufacturing facilities in Raymond (near Seattle), Bangalore
and a newly commissioned factory in Shanghai. HaloSource's products are branded and trademarked and the group has a rapidly growing customer
list drawn from leading global businesses. 

    For the year ended 31 December 2007, HaloSource reported a revenue increase from continuing operations of 30%, generated through organic
growth. During this development period Halosource did not generate a net profit.  The group's highest growth revenue stream is based on
water purification at point of use, at a price point which makes the technology available to lower income households in geographies such as
China and India - where a shortage of drinking water and water related diseases are serious health issues. The directors of Origo believe
that HaloSource's proven business model and management team will enable it to grow significantly as demand for its three distinct businesses
increases throughout the developing and the developed world. 

    The transaction is subject to normal closing conditions for a transaction of this type and is expected to complete later this month.


    ENDS

 Further information:

 Origo Sino-India PLC          +86 1390 124 6417
 Chris Rynning 
 chris@origoplc.com 

 Nominated Adviser:         +44 (0)20 7131 4000 
 Smith & Williamson
 Corporate Finance Limited
 Azhic Basirov 

 Broker:                    +44 (0)20 3100 2223 
 Liberum Capital Limited
 Simon Atkinson

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


                            





This information is provided by RNS
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