BVI company to carry negotiations in Southern Africa

Mineseeker Operations Overseas Limited, a BVI company focused on developing innovative technologies in the sphere of aearial survey and mapping, holds a series of meetings concerning the Memorandum of Understanding signed by the company. Mineseeker has already formed a joint venture company, Mineseeker Southern Africa Ltd, and will open negotiations for aearial survey contracts aimed at liberating large sections of land affected by unexploded ordnance.

Mineseeker CEO Mike Kendrick and the Commercial Director of the BVI company Mark Dorey are visiting the area for four days of meetings, scheduled with governments and stakeholders representing the contaminated areas, to formalize and scope the projects, and to establish the commercial structure and pricing of the potential contracts.

The BVI company will be looking for further investment partners in order to meet its objectives in African region, and will meet with the company that has made a specific proposal for the funding of the coconut factory in Mozambique.

A report on the results of the meeting will be available when the management team of the BVI company returns to the UK.

Pansoft Company Limited engages advisors to consider acquisition offer

British Virgin Islands-based Pansoft Company Limited, a leading ERP software service provider for the oil and gas industry in China, announced that the Special Committee formed to consider an offer by the company's chairman Hugh Wang representing Timesway Group Limited, to acquire all outstanding Pansoft shares that it did not already own, has engaged Duff & Phelps, LLC as its independent financial advisor. Also, the Special Committee retained Morgan, Lewis & Bockius, LLP to serve as its United States legal counsel and Maples and Calder to serve as its British Virgin Islands legal counsel.

On January 7, 2011, the Board of Directors of the BVI company received an offer from Chairman Hugh Wang, representing Timesway Group Limited, to acquire all outstanding Pansoft shares that it did not already own, at a price of US$3.76 per share. Timesway Group Limited is controlled by Chairman High Wang and CEO Guoqiang Lin, and had voting power over 64% of the company's voting securities as of June 30, 2011. The Special Committee is continuing its evaluation of the offer.

Playtech Limited acquired shares of Ash Gaming Limited

British Virgin Islands-based Playtech Limited, the international designer, developer and licensor of software and services for gaming industry, has acquired the whole issued share capital of Ash Gaming, one of the leading developers of interactive gambling and betting games. The shares were acquired for total cash consideration of up to £23 million, comprising initial consideration of £15.5 million and deferred contingent consideration of up to £7.5 million.

The acquired company is one of the online gaming industry's leading games content developers focused on the provision of games for online betting and gambling operators. The company employs more than 40 staff, of which the majority are game developers.

According to Playtech's press release, this acquisition enhances BVI company's wholly-owned content library and value chain economics, complements its technology leadership with additional premier content capability, and provides potential for revenue synergies, new opportunities and uplift in margins for casino/games platform. In financial year 2011, Ash Gaming broadened its distribution, and will continue to expand its product offering and operator network.

Chris Ash, founder and CEO of the acquired company, said in his comments: "The strategic rationale for Ash Gaming to combine its successful content with Playtech's industry leading offering was evident from the earliest of our discussions. The ability to deliver our content through further casino, bingo, poker, retail and mobile channels will enable the combined business to grow faster and deliver a greater variety of cross channel product to the operators."