As consideration for the Dome Securities, BHK will pay to Silver Bull an aggregate amount of USD$1,500,000, payable in cash, of which USD$25,000 was paid as a non-refundable deposit upon the execution of the letter agreement. Upon the completion of the transaction, which is considered to be an arm’s length transaction, the BVI company will become a wholly owned subsidiary of BHK Resources.
Friday, December 27, 2013
Silver Bull Resources signed Letter of Intent to sell BVI company securities
On December 13, 2013, Silver Bull Resources, Inc., a US registered mineral exploration company listed on both the NYSE MKT and TSX stock exchanges, entered into a binding letter of agreement with TSX-listed BHK Resources, Inc. Under the terms of the agreement, Silver Bull will sell to BHK all of the issued and outstanding securities of its subsidiary Dome International Global Inc., a private British Virgin Islands company which holds, indirectly, a 100 per cent interest in the Ndjole manganese and gold licenses, located in Gabon.
As consideration for the Dome Securities, BHK will pay to Silver Bull an aggregate amount of USD$1,500,000, payable in cash, of which USD$25,000 was paid as a non-refundable deposit upon the execution of the letter agreement. Upon the completion of the transaction, which is considered to be an arm’s length transaction, the BVI company will become a wholly owned subsidiary of BHK Resources.
As consideration for the Dome Securities, BHK will pay to Silver Bull an aggregate amount of USD$1,500,000, payable in cash, of which USD$25,000 was paid as a non-refundable deposit upon the execution of the letter agreement. Upon the completion of the transaction, which is considered to be an arm’s length transaction, the BVI company will become a wholly owned subsidiary of BHK Resources.
Friday, December 20, 2013
Trunkbow International entered into merger agreement with BVI and Nevada companies
Trunkbow International Holdings Limited, the company providing mobile payment solutions and mobile value added services in China, entered into an agreement and plan of merger with Trunkbow Merger Group Limited, a business company incorporated in the British Virgin Islands, and Trunkbow International Merger Sub Limited, a Nevada company wholly owned by the BVI corporation.
Under the terms of the merger agreement, Trunkbow Merger Group will acquire the Chinese company for US$1.46 per share of the company’s common stock without interest. Trunkbow International Merger Sub will merge with and into Trunkbow International Holdings, with the last as the surviving corporation, becoming the wholly owned subsidiary of the BVI-registered Trunkbow Merger Group.
The company will call a meeting of its stockholders for the purpose of voting on the adoption of the Merger Agreement. If completed, the merger will result in the company becoming privately held, and its shares would no longer be listed on the NASDAQ.
Under the terms of the merger agreement, Trunkbow Merger Group will acquire the Chinese company for US$1.46 per share of the company’s common stock without interest. Trunkbow International Merger Sub will merge with and into Trunkbow International Holdings, with the last as the surviving corporation, becoming the wholly owned subsidiary of the BVI-registered Trunkbow Merger Group.
The company will call a meeting of its stockholders for the purpose of voting on the adoption of the Merger Agreement. If completed, the merger will result in the company becoming privately held, and its shares would no longer be listed on the NASDAQ.
Tuesday, December 10, 2013
NFC Data Inc. withdrew from agreement with Play LA Inc.
Play LA Inc., BVI-registered internet advertising and publishing company, announced that NFC Data Inc. withdrew from the Share Purchase Agreement which the parties had signed in December 2012 with the purpose of the BVI company to exchange its shares and acquire the business and assets of NFC Data Inc.
Geoff Cairns, CEO of NFC Data Inc., advised the company of the withdrawal after entering into agreements with private investors to sell a portion of NFC Data Inc. equity that would value NFC Data Inc. at $25,000,000.
It was stated that withdrawing the Agreement was a unilateral decision made by NFC Data Inc., while Play LA Inc. intended to complete the transaction, and now the BVI company is exploring the legal possibilities in this matter in all jurisdictions involved.
Geoff Cairns, CEO of NFC Data Inc., advised the company of the withdrawal after entering into agreements with private investors to sell a portion of NFC Data Inc. equity that would value NFC Data Inc. at $25,000,000.
It was stated that withdrawing the Agreement was a unilateral decision made by NFC Data Inc., while Play LA Inc. intended to complete the transaction, and now the BVI company is exploring the legal possibilities in this matter in all jurisdictions involved.
Tuesday, December 3, 2013
Exceed Company Ltd. signed merger agreement with CI- and BVI-registered companies
Exceed Company Ltd., one of the leading sportswear brands in China, entered into a definitive agreement and plan of merger with Cayman Islands exempt company Pan Long Company Limited, wholly owned by Exceed’s Chairman and CEO Mr. Shuipan Lin, and Pan Long Investment Holdings Limited, a business company registered in the British Virgin Islands and a wholly owned subsidiary of Pan Long Company Limited.
By terms of the merger agreement, the Cayman Islands company will acquire Exceed Company Ltd. for US$1.78 per ordinary share. The consideration to be paid to shareholders implies an equity value for the Company of approximately US$60.1 million, on a fully diluted basis. Upon the closing of the transactions under the merger agreement, Mr.Lin will become beneficial owner of Pan Long Company Limited, together with the existing shareholders of the company who have elected to transfer their shares to the CI company in exchange for its newly issued shares.
Subject to the terms of the agreement, at the effective time of the merger, the BVI company will merge with and into Exceed Company Ltd., the last one remaining the surviving corporation and a wholly owned subsidiary of Pan Long Company Limited. The Merger is currently expected to close in the first quarter of 2014. If completed, the Merger will result in Exceed Company Ltd. becoming a privately held company and its Shares will no longer be listed on NASDAQ.
By terms of the merger agreement, the Cayman Islands company will acquire Exceed Company Ltd. for US$1.78 per ordinary share. The consideration to be paid to shareholders implies an equity value for the Company of approximately US$60.1 million, on a fully diluted basis. Upon the closing of the transactions under the merger agreement, Mr.Lin will become beneficial owner of Pan Long Company Limited, together with the existing shareholders of the company who have elected to transfer their shares to the CI company in exchange for its newly issued shares.
Subject to the terms of the agreement, at the effective time of the merger, the BVI company will merge with and into Exceed Company Ltd., the last one remaining the surviving corporation and a wholly owned subsidiary of Pan Long Company Limited. The Merger is currently expected to close in the first quarter of 2014. If completed, the Merger will result in Exceed Company Ltd. becoming a privately held company and its Shares will no longer be listed on NASDAQ.
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