Wednesday, July 23, 2008

BVI corporation sells Sunland Properties to Carlyle Mining Corporation

A BVI-registered company Rowen Company Limited has decided to dispose of Sunland Properties Limited.

A publicly listed company Carlyle Mining Corporation has recently announced entering into an option agreement for the acquisition of Sunland Properties Limited controlling 520 square kilometers of prospective copper-gold tenements located near Hawkwood in South-Eastern Queensland, Australia, from a British Virging Islands corporation Rowen Company Limited.

Rowen Company Limited is controlled by Bryce Roxburgh – is a director of Carlyle Mining Corporation, accordingly, the acquisition is subject to approval of Carlyle's shareholders.

As a result of the acquisition of Rowen-owned Sunland, there will be no change to the current Board of Directors or management of Carlyle Mining Corporation.

Friday, July 18, 2008

BVI-registered China Natural Resources to acquire Coal Exploration Company in China

On July 15, 2008, China Natural Resources Inc., a company incorporated in BVI and based in China, announced that, on July 11, 2008 it entered into an agreement with Feishang Group Limited.

Feishang Group Limited is a related party, from which China Natural Resources agreed to acquire, firstly, all of the issued and outstanding capital stock of Pineboom Investments Limited and its wholly-owned subsidiaries or Coal Group, and, secondly, the outstanding indebtedness owing by the Coal Group to Feishang Group on the closing date.

The purchase price for the shares (all the stock) and indebtedness is USD 25 million, which is subject to adjustment. The details on the transaction were included into the Company's Current Report with the Securities and Exchange Commission on July 15, 2008. The closing date of the deal is expected in the 1st quarter of 2009.

The CEO and Chairman of a British Virgin Islands corporation commented that the acquisition is consistent with the company's strategy to expand coal and metal reserves, and that China Natural Resources is optimistic about the prospect of the coal mining industry in China as economic growth is continuing there.

Friday, July 11, 2008

BVI registered Bestempire Ltd continues acquitision of Mesdaq-listed Envair Holdings Bhd

A BVI-registered company Bestempire Ltd has continued its efforts in accumulating shares in Envair Holdings Bhd. This is revealed by its latest share acquisition – the company acquired 5.73 million shares.

According to filing with Bursa Malaysia, on June 24, 2008 Bestempire (BVI) acquired the 5.85% stake. So, following the recent acquisition, Bestempire's shareholding in the Mesdaq-listed company increased to 17.84% or17.48 million shares.

Envair’s share price increased to a 52-week high of 35 sen on July 31 while on March 19 it was 4 sen, which was s 52-week low.

On June 24, when the shares were acquired, the share price surged to a 4-month high of 20.5 sen.

Incorporated in the British Virgin Islands, Bestempire Ltd provides modular clean room controlled environment for such industries as semi-conductor, pharmaceutical, medical production as well as food production.