Saturday, June 27, 2009

BVI company acquires shares of Pioneer Cement Ltd

Vision Holding Middle East Ltd, British Virgin Islands-registered company having its headquarters in Karachi, Pakistan, announced the acquisition of 24.599 % shares in Pioneer Cement Ltd - a public company incorporated in Pakistan and engaged in manufacturing and sale of cement.

The shares have been purchased by the BVI company at the rate of Rs10 ($0.12) per share on June 18, 2009. According to information received by Karachi Stock Exchange, the purchase price is Rs22 per share - subject to downward adjustment following completion of due diligence, which will be done in the next four months to determine the final price.

Vision Holding Middle East has also entered into a call-and-put option agreement with several shareholders of Pioneer Cement Ltd for the purchase of 28.855 % of the total issued and paid up share capital of the Pakistani company in the next 1,5 years. Also, the Competition Commission of Pakistan has given its clearance to the acquisition initiated by the BVI company.

Tuesday, June 23, 2009

Chinese pharmaceutical corporation makes private placement with the BVI company

China Biologic Products, Inc., one of the leading plasma-based biopharmaceutical companies in China, announced that it has entered into a securities purchase agreement with accredited investors led by Essence International Investment Limited – an investment company registered in the British Virgin Islands. By this agreement, China Biologic will issue 3.8% senior secured notes due 2011 in the amount of $9,554,140, convertible into Chinese company’s common stock at $4.00 per share. The company also issued warrants to purchase up to 1,194,268 shares of its common stock at a price of $4.80 per share.

China Biologic reported its intention to use the proceeds of the deal to pay part of the purchase price for the interests it recently acquired in companies Xi'an Huitian Blood Products Co., Ltd. and Chongqing Dalin Biologic Technologies Co., Ltd., as well as for working capital and general corporate purposes.

Essence International Investment Limited is a company incorporated in the BVI for the purpose of investing in the Chinese company, and is owned by several accredited investors experienced in providing growth capital to early and expansion stage companies in China, particularly in healthcare industry.

Sunday, June 14, 2009

BVI Fund sells 1.13 per cent of shares of Malaysian corporation

According to filings, the British Virgin Islands-based CIM Dividend Income Fund Ltd disposed 1.13%, or 3.89 mln shares of NV Multi Corporation Bhd, which is involved in bereavement care services, in the period between May 6 and May 8. 15,000 and 38,000 NV Multi Corp shares were disposed on May 6 and 7, and 3.84 mln shares on May 8.

By this disposal, the BVI-registered fund now holds 20.54 million shares, or an indirect interest of 6% in NV Multi Corp. CIM Dividend Income Fund Limited is one of the Funds controlled by the UK asset management company CIM Investment Management Limited.

Tuesday, June 9, 2009

BVI-registered shareholder of Finnish company announces change of shareholding

Ruukki Group Plc, the company which specialises in industrial refining of certain natural resources and working in the areas of wood processing and minerals, has received the announcement regarding change of shareholding from the British Virgin Islands-registered Kermas Ltd. The BVI company announced that, based on share transactions carried out on May 14, 2009, its current ownership has exceeded 15% of the share capital and voting rights of Ruukki Group Plc.

Kermas Ltd. (BVI) also informed that it now owns Ruukki Group Plc shares and forward contracts in the following order: current ownership of shares makes 41,111,200 (15.75%), potential future ownership will add 45,255,300 (or 17.34%), while potential future ownership as an option arrangement will add 73,170,731 (or 28,03%). Total amount of shares will make 159,537, or 61.12%. Forward contracts will expire in June 2009.

The registered number of shares of Ruukki Group Plc is 261, 034, 022, and share capital is EUR 23, 642,049.60. The number of treasury shares held by the Group on May 15, 2009 was 10,700,000 shares.

Saturday, June 6, 2009

Alyst announces stockholder meeting on merger with the BVI corporation

On May 15, a special purpose acquisition company Alyst Acquisition Corp. announced that June 23, 2009 was approved by its Board of Directors as the date for a special meeting of company's shareholders for voting on the proposed merger with China Networks Media Ltd. - a television advertising company formed in 2007 in the British Virgin Islands. Alyst signed an agreement and plan of merger to acquire full stock of joint venture provider of broadcast television services in China in August 2008, and confirmed its intention in January 2009.

By means of merging with its wholly-owned subsidiary, China Networks International Holdings, Ltd., also registered in the British Virgin Islands, Alyst plans to redomesticate to the jurisdiction prior to consummating its transaction with China Networks Media Ltd.

On January 30, 2009, Alyst filed a preliminary proxy statement/prospectus in connection with the proposed business combination, and filed amendments to it on April 16 and May 14, 2009. Alyst intends to file the definitive proxy statement/prospectus and related registration statement, filed by China Networks International Holdings, Ltd., Alyst's wholly-owned BVI subsidiary and intended surviving corporation after consummation of the proposed merger.