Wednesday, May 18, 2011

BVI company acquires 700,000 shares of NSGold Corporation

British Virgin Islands-based private corporation Van Hoof Industrial Holdings Ltd. announced that it had acquired 700,000 common shares of NSGold Corporation, at a price of C$0.50 per share, for total consideration of C$350,000, upon the exercise by the BVI corporation of 700,000 common share purchase warrants.

About a year ago, Van Hoof Industrial Holdings acquired the ownership of 9,601,600 common shares of NSGold Corporation, which represented 31.89% of the full stock of its common shares. The common shares acquired on May 16, 2011 represent 2.14% of the 32,712,277 common shares of NSGold Corporation, both issued and outstanding. Upon the exercise of the warrants, Van Hoof Industrial Holdings Ltd. owns and controls 10,833,100 common shares of NSGold Corporation, representing 33.12% of its issued and outstanding common shares, and does not own or control any common share purchase warrants of NSGold Corporation.

Van Hoof Industrial Holdings Ltd. acquired the shares of NSGold Corporation for investment purposes. The British Virgin Islands-based is controlled by Johannes H.C. van Hoof, Chairman and director of NSGold Corporation.

Friday, May 6, 2011

BVI-registered company purchased shares of Armenian network of supermarkets

British Virgin Islands-registered company Viest Assets Ltd. purchased 100% shares of “STAR” supermarkets in Armenia. The BVI company is based on the Armenian capital but the owner of the company is not named.

Previously, one of the main shareholders of STAR have been European Bank of Reconstruction and Development (EBRD) with the share of 28.3%.

According to company's executive director, after re-branding the policy of the company will be changed, particularly the prices and service. The company plans to move from low-price to middle segment, and to open 10-12 new shops of STAR in Yerevan and the surrounding areas.

Currently the network of supermarkets STAR includes 18 shops. Company's turnover in 2010 was 18 billion drams.

Re-branding process will be completed by mid-2012.