tag:blogger.com,1999:blog-34330387107359457182024-02-08T11:36:06.067-08:00BVI Company Mergers & AcquisitionsBVI-registered company takeovers, mergers and acquisitions.Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comBlogger424125tag:blogger.com,1999:blog-3433038710735945718.post-9628946475257609492020-11-24T04:11:00.005-08:002020-12-04T04:14:24.901-08:00Aura Minerals Inc. announced completion of new offtake agreement<b>BVI-incorporated company <a href="https://bvi-companies.blogspot.com/2017/03/aura-minerals-inc.html">Aura Minerals Inc.</a> announced that its wholly-owned subsidiary, Aranzazu Holding S.A. de C.V., has completed a competitive bidding process for a new offtake agreement with Trafigura México, S.A. de C.V.</b>, pursuant to which Trafigura has agreed to purchase 100% of the copper and gold concentrate produced at Aranzazu during the term of the New Agreement. <br /><br />The <b>New Agreement is effective as of the beginning of 2022 </b>and until the end of 2024. The current offtake agreement in place with IXM Metals will remain in force until the end of 2021.<br /><br />As a result of a strong competitive process and improved market conditions for copper, Aura expects Aranzazu to achieve material savings under the New Agreement, improving gross margins by 4 percentage points compared to the terms of the Existing Agreement.<br />Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-8255270283310089102020-04-13T03:56:00.008-07:002020-12-04T04:00:02.571-08:00Luxoft completed acquisition of CMORE Automotive<b>Luxoft, a DXC Technology Company, announced the completion of its acquisition of <a href="https://www.cmore-automotive.com/">CMORE Automotive</a></b> on April 9, 2020. <b>Definitive agreement to acquire the independent services provider, dedicated to the development and validation of Al-driven mobility systems</b>, was announced on March 5, 2020, and final approval was received by the company on March 24, 2020.<br /><br /><b>The acquisition adds to Luxoft’s capabilities in data-driven development, testing and validation of Autonomous Drive/Advanced Driver Assistance Systems and strengthens the company’s ability to design and deploy transformative AD/ADAS programs for clients at scale</b>.<br /><br />Dmitry Loschinin, executive vice president, DXC Technology, and president and chief executive officer, Luxoft, commented on the completion of the acquisition: “With CMORE Automotive, Luxoft will extend its spectrum of AD/ADAS initiatives, from enabling customers to amplify their fusion, perception and driving function development, testing and validation capacities to delivering transformative AD/ADAS solutions at scale. I want to welcome the CMORE Automotive team to the DXC family.”<br /><br />Richard Woller, chief executive officer, CMORE Automotive, said: “We are excited to be a part of the DXC family and its Autonomous Drive team and looking forward to accelerate customers’ in-car series projects with end-to-end AI-driven development, testing and validation of AD/ADAS solutions at scale.”<br />Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-76872949138899360022020-03-03T04:58:00.000-08:002020-03-06T05:00:56.964-08:00BVI company’s subsidiary entered into Merger Agreement with China-based Jumei<b><a href="https://uk.finance.yahoo.com/quote/JMEI">Jumei International Holding Limited</a>, China-based fashion and lifestyle solutions provider, has entered into a definitive Agreement and Plan of Merger with business company Super ROI Global Holding Limited</b>,<b> incorporated under the laws of the British Virgin Islands, and BVI company’s wholly-owned subsidiary Jumei Investment Holding Limited, incorporated in the Cayman Islands</b>.<br />
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Under the terms of the Merger Agreement, <b>Jumei Investment Holding and Super ROI Global Holding Limited will acquire all of the outstanding class A ordinary shares of the company</b>, par value US$0.00025 per share and American depositary share each representing ten Class A Ordinary Shares.
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The <b>subsidiary of the BVI company will promptly start a tender offer</b> to acquire all of the outstanding Class A Ordinary Shares of Jumei International Holding Limited at a price of US$2.0 per share or US$20.0 per ADS in cash, without interest and less US$0.05 per ADS cancellation fees, US$0.02 per ADS depositary service fees and other related fees and taxes. After completion of the tender offer, which will be subject to several conditions, the <b>BVI company will purchase all remaining shares through a “short-form” merger </b>of Jumei Investment Holding Limited and Jumei International Holding Limited.<br />
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The Merger Agreement, the offer and the merger were unanimously recommended by the board of directors of the Chinese company. The <b>merger is expected to close in the second quarter of 2020</b>; upon its completion, <b>Jumei International Holding Limited, will become a privately-owned company wholly owned directly by the BVI corporation</b>.Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-28242316019797612622020-02-15T04:33:00.000-08:002020-02-19T04:35:19.962-08:00Aura Minerals purchases Gold Road Mine from Para Resources Ltd<b><a href="https://uk.finance.yahoo.com/quote/ORA.TO?p=ORA.TO">Aura Minerals Inc.</a>, the mining company incorporated in the British Virgin Islands, and <a href="https://uk.finance.yahoo.com/quote/PBR.V/?p=PBR.V">Para Resources Inc.</a> entered into a binding term sheet together with PPG Arizona Holdings LP</b>, an affiliate of Pandion Mine Finance, LP. Pursuant the terms of the agreement, the <b>BVI company will purchase from Para all of the issued and outstanding shares of its wholly-owned subsidiary Z79 Gold (USA) Corp.</b>, for nominal cash consideration and the assumption of liabilities from Para to PPG of approximately <b>US$35mln, under the restructured pre-paid forward gold purchase agreement</b> dated August 3, 2018. The closing of the Transactions is expected to occur on or about March 13, 2020.<br />
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<b>Z79 is the owner of 94% interest in Gold Road Mining Corp.</b>,<b> which owns the Gold Road Mine in Arizona</b>, also the company owns 94% interest in TR-UE Vein Exploration, Inc., which owns different options to acquire parcels of land adjacent to the Gold Road Project.<br />
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President and CEO of the BVI company Mr. Rodrigo Barbosa said today: “We believe that Gold Road has a good strategic fit with Aura’s portfolio. With our technical and managerial expertise we should be able to help Gold Road unlock value and grow.”
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-77927431985228152922020-01-14T06:16:00.000-08:002020-02-14T06:16:50.413-08:00Luxoft announces Joint Venture formation<b><a href="https://bvi-companies.blogspot.com/2014/02/luxoft-holding-inc.html">BVI-registered Luxoft</a> (DXC Technology Company) and <a href="https://www.lg.com/">LG Electronics</a> </b>announced that they <b>will form an automotive joint venture</b> to advance the deployment of production-ready digital cockpit, in-vehicle infotainment, rear-seat entertainment (RSE) and ride-hailing systems based on the webOS Auto platform. <b>Luxoft will lead the deployment of webOS Auto platform in production-ready systems in automotive by contributing its global delivery network and its engineering at-scale delivery organization</b>. It is expected that the <b>joint venture will start operations in the first quarter of 2020</b>. The transaction is subject to regulatory approval and other customary closing conditions.<br />
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<b>webOS Auto is an open platform for collaboration and for shared and intelligent mobility</b>, <b>providing unique features and functionality, and incorporating all essential components to offer improved comfort and convenience to passengers and drivers</b>.<br />
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Dmitry Loschinin, executive vice president, DXC Technology, and president and CEO, Luxoft, said in his comments: ”This new venture reinforces Luxoft’s capabilities in the design, development and deployment of large-scale digital cockpit and connected mobility solutions based on open platforms… The combined strengths of LG and Luxoft will create invaluable synergy to deploy webOS Auto, the platform for digital, consumer-grade experiences to automakers and their key partners.”
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-23914646367212990272019-12-16T03:22:00.000-08:002019-12-18T03:23:53.535-08:00Scotiabank selling its BVI branch to Trinidad-based bank<br />
<b><a href="https://www.scotiabank.com/">Scotiabank</a> </b>made an announcement that it has <b>reached an agreement for the sale of 100% of the shares of its British Virgin Islands branch to Trinidad-based Republic Financial Holdings Limited</b>, which is the owner of the Republic Bank group of banks. The new agreement is the latest in a series of transactions the Canadian bank was making to unload its Caribbean assets, after the sale of its banking operations in Anguilla, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, St. Maarten and St. Vincent and the Grenadines to Republic Bank.<br />
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The <b>BVI agreement is subject to regulatory approval and customary closing conditions</b>. The Canadian bank did not disclose the terms of the agreement, but the <b>notice on the Trinidad and Tobago Stock Exchange put the $120 million price</b>.<br />
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In 2017, according to the survey by the Caribbean Association of Banks, 21 of the 23 banks in 12 Caribbean countries had lost at least one correspondent banking relationship, defined as an agreement between foreign and domestic bank where a correspondent account is established at one bank for the other.Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-85857810697723318942019-11-18T06:08:00.000-08:002019-11-19T06:10:29.757-08:00Kingsferry Capital Management Group sells common shares of Canadian company<br />
<b>BVI-regulated investment management company <a href="https://www.kingsferrycapital.com/">Kingsferry Capital Management Group Limited</a></b> announced that it has <b>sold 752,000 common shares of Canada-based Home Capital Group Inc</b>. These common shares, sold on behalf of a managed account during the period between 13 and 15 of November, 2019 <b>at an average price of C$34.02 per common share for gross proceeds of C$25,580,549</b>, represent <b>approximately 1.31% of the issued and outstanding common shares</b>.<br />
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Prior to the sales transaction, the <a href="http://www.bviincorporation.com/" title="British Virgin Islands IBC incorporation">BVI group</a> controlled over 6,364,800 common shares, which represented approximately 11.10% of the issued and outstanding common shares, and <b>as a result of the disposition it exercises control and direction of over 5,612,800 common shares (approximately 9.79% of the issued and outstanding common shares)</b>. As Kingsferry Capital now controls or directs less than 10% of the common shares, it is no longer a “reporting insider” and also is not subject to early warning reporting obligations.
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-49895838072654244572019-10-29T13:34:00.000-07:002019-11-05T13:37:35.452-08:00Biotechnology company closed private financing from BVI-registered Juvenescence Ltd.<a href="https://www.blogger.com/u/1/lygenesis.com"><br /></a>
<b><a href="https://www.blogger.com/u/1/lygenesis.com">LyGenesis, Inc.</a>, a biotechnology company focused on organ regeneration, announced the closing of US$4 million in private financing of convertible notes</b> from <b>BVI-registered holding company <a href="https://bvi-companies.blogspot.com/2018/05/juvenescence-limited.html">Juvenescence, Ltd.</a> and Longevity Vision Fund</b>. This convertible debt financing will allow LyGenesis to start transition of liver regeneration program into clinical development stage.<br />
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<b>Greg Bailey, MD, Co-Founder and CEO of Juvenescence and a member of LyGenesis’s Board of Directors</b>, said in his comments: “We are thrilled to continue our financial support of LyGenesis as they transition into clinical development.” Sergey Young, founder of Longevity Vision Fund, said “The progress of LyGenesis’s technology is emblematic of the rapid advances we are witnessing as biotechnology transitions from bench research, to preclinical models, and now into the clinic.”
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-36191360528676860282019-10-17T05:19:00.000-07:002019-10-17T05:19:32.415-07:00NF Energy Saving Corporation completed acquisition of pharmacy chain company<br />
<b>NF Energy Saving Corporation</b>, China-based provider of integrated energy conservation solutions, has <b>completed the acquisition of Chinese pharmacy chain company Boqi Zhengji Pharmacy Chain Co., Ltd. </b><br />
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Previously, <b>NF Energy entered into a stock purchase agreement with <a href="http://www.offshorebvi.com/bvi-offshore-companies.php" title="BVI company: Offshore BVI companies and British Virgin Islands company (IBC) description">British Virgin Islands-registered</a> Lasting Wisdom Holdings Limited</b>, as well as <b>Hong Kong company Pukung Limited, China-based companies Beijing Xin Rong Xin Industrial Development Co., Ltd. and Boqi Zhengji Pharmacy Chain Co., Ltd., and several individual sellers</b>. The a<b>ggregate purchase price for the shares consists of a cash consideration of RMB 40,000,000 (USD 5,643,181) and up to 1,500,000 shares of common stock of the company</b>.<br />
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Mr. Tiewei Song, CEO and President of NF Energy Saving Corporation, commented on the completion of the acquisition: “We are pleased to complete the acquisition of Boqi Zhengji Pharmacy as promised. The acquisition is a substantial milestone for us to shift to the health industry while the market is booming.”
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-81156075348841934332019-09-13T07:06:00.000-07:002019-09-20T07:07:43.349-07:00Luxoft becomes a Global Platinum Partner of Fenergo<br />
<b>Luxoft Holding Inc., a BVI corporation recently <a href="https://bvi-company-mergers-acquisitions.blogspot.com/2019/06/luxoft-holding-acquired-by-dxc.html">purchased by DXC Technology Company</a>, has joined the partner eco-system of <a href="https://www.fenergo.com/">Fenergo</a></b>, the <b>leading provider of client lifecycle management solutions for financial institutions</b>. Luxoft and Fenergo will collaborate to better <b>enable global financial institutions to implement Fenergo’s platform and launch digital transformation</b>. The strategic alliance of the companies will enable global financial institutions t<b>o serve clients faster, and address compliance issues related to Know Your Customer (KYC) and Anti-Money Laundering (AML)</b>. The partner eco-system of Fenergo consists of 300 global organisations.<br />
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<b>Luxoft will offer Fenergo’s clients professional consulting services to enable the rapid systems integration and deployment of Fenergo’s platform and suite of digital capabilities</b>. Luxoft enables digital business transformation, enhances customer experiences and boosts operational efficiency through its strategy, consulting, and engineering services.
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Executive vice president of DXC Technology and president and CEO of Luxoft has commented: “Fenergo shares our vision to provide clients transformative digital solutions at scale by deploying best-in-class KYC, AML and digital onboarding capabilities with an outcome-based approach. Our partnership with Fenergo aligns with our strength and success in financial services, and presents new opportunities to grow our business, expand our partner ecosystem, and deliver exceptional value to our clients.
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-63667081196432397152019-08-31T04:05:00.000-07:002019-09-11T04:05:55.724-07:00Premier African announced completion of loan into Namibian mine<b>Premier African Minerals Limited confirmed the completion of the <a href="https://bvi-company-mergers-acquisitions.blogspot.com/2019/07/premier-african-minerals-announced-loan.html">strategic loan by the BVI company to MN Holdings Limited</a></b>, which is the owner and operator of the Otjozondu Manganese Mine in Namibia, and the <b>appointment of Mr Herbert to the board of directors</b>.<br />
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As it was announced in July, the BVI company and Cambrian Limited entered into secured loan agreement with MNH, worth US$1.35mln and with annual interest rate of 10% per annum. Under the existing share authorities on the date of signing the loan agreement, Premier African Minerals could only issue 1,009,889,850 of the loan shares for a value of £454,450.<br />
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On 6 August 2019, the <b>BVI company received shareholders approval to increase its authorised share capital</b>, and has elected to <b>issue the balance of the 753,778,580 loan shares at a value of £339,200 at the issue price</b>. Subject to an orderly market agreement, <b>these shares may only be sold by MNH through the company’s broker</b> to ensure an orderly market is maintained. Application will be made for the <b>second loan shares to be admitted to trading on AIM and admission is expected to take place on or around 3 September 2019</b>.
Following the issue of the shares, <b>Premier's issued share capital consists of 9,753,778,580 Ordinary Shares with voting rights</b>.
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-32211780588841491032019-08-21T05:25:00.000-07:002019-08-30T05:26:52.314-07:00BVI company completed acquisition of Terraco Gold<b>BVI-incorporated Sailfish Royalty</b> <b>announced completion of the previously announced acquisition with Terraco Gold Corp.</b> As previously agreed, the <b><a href="http://www.offshorebvi.com/bvi-offshore-companies.php" title="BVI company: Offshore BVI companies and British Virgin Islands company (IBC) description">BVI company</a> has acquired all of the issued and outstanding shares of Terraco, in exchange for consideration of 0.12 of a common share of Sailfish for each Terraco share</b>. The consolidated growth-oriented Royalty Company will hold an array of precious metals royalties, ranging from the exploration stage through to production, geographically diversified within Nevada, Mexico, Brazil and Nicaragua.<br />
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<b>Former Terraco shareholders will hold approximately 37.2% of the issued and outstanding common shares of Sailfish</b>. The outstanding options of Terraco have been adjusted in accordance with their terms and the Exchange Ratio such that 1,626,120 outstanding options of Sailfish have been reserved for exercise.<br />
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Also, the <b>BVI company announced that it has repaid in full the US$12,031,055 outstanding senior unsecured convertible debenture held by Solidus Resources, LLC</b>, the wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP.
<b>Shares of Terraco were delisted from the TSX Venture Exchange at close of business on August 20, 2019</b>.<br />
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Concurrently with the closing of the Arrangement, <b>Wexford Spectrum Trading Limited and Wexford Catalyst Trading Limited loaned Sailfish US$12,031,055</b>, the proceeds of which were used by Sailfish on behalf of TGC Holdings Ltd. , a wholly-owned subsidiary of Terraco, to repay the Debenture.
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-55938392990189843782019-07-11T14:24:00.000-07:002019-09-10T14:26:40.234-07:00Premier African Minerals announced loan to MN Holdings Limited<b>BVI-registered <a href="https://www.premierafricanminerals.com/">Premier African Minerals Limited</a>, jointly with Cambrian Limited</b>, announced a <b>strategic loan to MN Holdings Limited, the owner and operator of the Otjozondu Manganese Mining Project in Namibia</b>, for a <b>total amount of US$1.35mln with annual interest of 10%</b> and with a maturity date of 1 October 2021. By this loan, Premier African expands into an operating and revenue generating manganese mining operation.<br />
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George Roach, CEO of the <a href="http://www.bviincorporation.com/" title="British Virgin Islands IBC incorporation">BVI company</a>, said in his comments: "Otjozundu is a producing revenue generating manganese mine based in Namibia currently involved in an expansion programme. The <b>loan to Otjozundu will enable it to conclude the purchase of significant additional plant and equipment </b>from the nearby Purity Mine to allow Otjozundu to steadily increase production and revenues.”<br />
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The Otjozundu Manganese Mining Project is located some 150 kilometres north east of Windhoek and is in a well-known and established manganese district. <b>Otjozundu is wholly owned by MNH, which acquired the project from Shaw River Manganese Limited for A$4.952 million in 2018</b>.<br />
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The <b>loan proceeds will be specifically used by MNH to purchase additional mining fleet and processing equipment</b> from Purity Mining which has operated in an adjacent area.
In accordance with the Loan Agreement, Cambrian <b>has already provided US$350,000 in cash to MNH and Premier African will provide the remaining US$1 million (as Lender) in the form of 1,763,668,430 new ordinary shares of the company</b>.Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-27125390526319182052019-06-26T03:20:00.000-07:002019-06-26T03:20:35.150-07:00Sailfish Royalty entered into Arrangement Agreement with Terraco Gold Corp<b><a href="http://bvi-companies.blogspot.com/2019/05/sailfish-royalty-corporation.html">Sailfish Royalty Corp.</a>, a precious metals royalty and streaming company incorporated in the British Virgin Islands, and <a href="http://terracogold.com/">Terraco Gold Corp.</a>, a gold royalty company focused on Spring Valley Gold Project located in Nevada, entered into a definitive arrangement agreement</b> on June 19, 2019. <b>Sailfish has agreed to acquire all of the issued and outstanding shares of Terraco</b>, in exchange <b>for consideration of 0.12 of a common share of Sailfish for each share of Terraco</b>. The existing options and warrants to acquire Terraco shares will be converted into options and warrants to acquire Sailfish Shares, each in accordance with their terms.<br />
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The consideration offered by the BVI corporation represents a premium of approximately 53% to the trailing 20-day volume weighted average price of the Terraco Shares as at the above stated date.<br />
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The <b>consolidated company will hold and array of precious metals royalties, and the geographical diversification will include Nevada, Mexico, Nicaragua and Brazil</b>. The company will also hold royalties with such property owners as <b>Waterton Global Resource Management, Eldorado Gold Corporation and Endeavour Silver Corp.</b>, and will be <b>supported by Wexford Capital LP</b>, an SEC registered investment advisor with approximately US$3 billion of assets under management.<br />
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Akiba Leisman, CEO of the BVI corporation, stated in comments on the agreement: “We are very pleased to announce this exciting transaction which brings together our combined royalty portfolios into a new, growth-oriented royalty vehicle. Terraco’s royalty holdings on the development-stage Spring Valley Gold Project in Nevada will give our shareholders exposure to one of the best known undeveloped mining properties in the region.”Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-14701772489089427492019-06-17T02:47:00.000-07:002019-06-17T02:47:09.117-07:00Luxoft Holding acquired by DXC Technology<b>World's leading independent IT services company DXC Technology announced the completion of the acquisition of <a href="https://uk.finance.yahoo.com/quote/LXFT?ltr=1">Luxoft Holding Inc.</a>, the BVI-registered and globally working digital strategy and software engineering company</b>. Definitive agreement to acquire Luxoft was signed in January 2019, while regulatory approval for the purchase was received on June 11, 2019.<br />
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Luxoft will continue to be headed by Dmitry Loschinin, who will report further on to DXC’s chairman, president and CEO Mike Lawrie. The <a href="http://www.offshorebvi.com/bvi-offshore-companies.php" title="BVI company: Offshore BVI companies and British Virgin Islands company (IBC) description"><b>BVI holding company</b></a>, which has a 13,000-person workforce, providing digital strategy consulting and software engineering services for companies across North America, Europe and the Asia Pacific region, <b>will maintain its brand and operate as “A DXC Technology Company.” </b><br />
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<b>DXC’s chairman stated in his comments on the acquisiton</b>: “With Luxoft, DXC will cover the full spectrum of business-driven digital initiatives, from modernizing client legacy IT systems to delivering transformational digital solutions at scale… Luxoft’s proven success for global clients creates new value and benefits for all DXC stakeholders. I want to welcome the Luxoft team to the DXC family.”<br />
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<b>By words of Luxoft’s CEO</b>, “Joining a leading global innovator in DXC is exciting for our people, clients and partners… it’s the best of both worlds: DXC provides the scale, resources and market presence, while Luxoft brings differentiated capabilities and new digital talent. We expect our shared vision to create new market opportunities, deliver game-changing innovations and drive DXC’s growth.”
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-65772919162050912842019-05-04T04:52:00.000-07:002019-05-14T04:57:08.369-07:00Kingsferry announced acquisition of common shares of Canadian company Home Capital<b>BVI-registered investment company <a href="https://bvi-companies.blogspot.com/2019/04/kingsferry-capital-management-group.html">Kingsferry Capital Management Group Limited</a> </b>made an announcement that it has <b>acquired, on behalf of Kingsferry Classic Value Fund I Ltd., 1,000 common shares of Home Capital Group Inc.</b> As a result of the acquisition, <b>Kingsferry gets control over 6,103,600 common shares</b>, representing approximately <b>10.001% </b>of the issued and outstanding Common Shares.<br />
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The Common shares were <b>purchased at an average price of C$18.56 per share, for a total purchase price of C$18,560</b>. Immediately prior to the acquisition of the common shares, the BVI company had control and direction over a total number of 6,102,600 common shares, representing approximately 9.999% of the issued and outstanding common shares.<br />
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Kingsferry has engaged, and intends to continue to engage, in discussions with management and the board of Home Capital concerning its business, management, operations, assets, capitalization, financial condition, governance, strategy and future plans.Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-71559239379186529662019-03-15T05:26:00.000-07:002019-03-27T05:35:33.678-07:00Talon Metals made initial payment to Kennecott<a href="https://bvi-companies.blogspot.com/2007/09/talon-metals-corporation.html">Talon Metals Corp.</a> announced that <b>Talon Nickel (USA) LLC has made the initial upfront payment to Kennecott Exploration Company, in the amount of US$6 million</b>. The BVI company also issued <b>25,031,250 common shares to Kennecott</b>, representing <b>US$1.5 million worth of common shares at C$0.08 per share</b>, based on the further requirement under the Option Agreement.<br />
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<b>Kennecott Exploration, which is a subsidiary of the Rio Tinto Group, now owns 7.4% of Talon </b>on a partially diluted basis. Under the terms of the Option Agreement, <b>Talon now has the right to acquire up to 60% interest in the Tamarack Project</b>. President of Talon said in his comments: "This is the beginning of exciting times ahead for the Company. We look forward to working in conjunction with our partner, Kennecott, to advance the Tamarack Project, with a strategy of producing Class 1 nickel, as well as copper and cobalt, for the electric vehicle and stationary battery market."
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-89810614453234143002019-03-02T03:18:00.000-08:002019-03-07T03:21:05.783-08:00BVI corporation announced extension agreement with Kennecott<b>BVI-registered Talon Metals Corp.</b> made an announcement that its <b>wholly owned indirect subsidiary Talon Nickel (USA) LLC entered into an extension agreement in respect of the option agreement which was signed with Kennecott Exploration Company</b> in November 2018.<br />
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Under the terms of the Extension Agreement, the <b>BVI company has to make initial payment to Kennecott in the amount of US$6mln until March 15, 2019</b>, in order <b>to make the Option Agreement effective</b>. In this case, <b>Talon Metals will have the right to acquire up to 60% interest in the <a href="https://bvi-company-mergers-acquisitions.blogspot.com/2017/09/talon-metals-received-option-to-acquire.html">Tamarack Project</a></b>. <b>In case the company fails to make the payment to Kennecott, the parties will enter into a joint venture agreement</b> under which Kennecott would have an initial 82.44% interest and Talon would have an initial 17.56% interest in the Tamarack Project.Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-41731963061032488552019-01-19T05:40:00.000-08:002019-01-19T05:40:03.228-08:00Chaarat acquires Kapan Mining and Processing Company CJSC<b>BVI-registered mining company Chaarat Gold International Limited announced the extension of the anticipated closing date for the acquisition of Kapan Mining and Processing Company CJSC</b> from 15 January 2019 to 31 January 2019, agreed with <b>Kapan’s vendor PTML Holding Ltd, a subsidiary of Polymetal International Plc</b>. The extension, which followed <a href="http://www.bviincorporation.com/BVI.Business.Companies.Act" title="BVI Business Companies Act">BVI company's</a> announcement of the acquisition of 31 December 2018, has arisen as a result of the extended winter holidays in Russia and Armenia.<br />
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Also, it has been agreed that <b>Chaarat will grant a pledge over the shares it has acquired in Kapan in favour of Polymetal, pending receipt of the US$40 million cash payment</b>. If payment is not completed within 10 business days, Polymetal has the right to require the transaction to be unwound. Otherwise the transaction will progress as planned, and will remain as previously described.
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-59474789897394232352019-01-10T10:10:00.000-08:002019-01-15T10:12:48.975-08:00Luxoft Holding Inc. to be purchased by DXC Technology<b><a href="http://www.dxc.technology/">DXC Technology</a>, global IT solutions provider and one of the leaders in the industry, and BVI-incorporated <a href="http://bvi-companies.blogspot.com/2014/02/luxoft-holding-inc.html">Luxoft Holding, Inc.</a> announced a definitive agreement according to which DXC will acquire Luxoft</b>. Under the terms of the agreement, <b>all of the issued and outstanding ordinary shares of the BVI holding company will get US$59.00 per share in cash, that makes total equity value of approximately US$2 billion</b>.<br />
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With <b>Luxoft’s digital engineering capabilities and DXC’s expertise in IT modernization and integration, the companies will offer differentiated customer value proposition for end-to-end digital transformation. </b>The combined company will be able to provide end-to-end digital capabilities for the global financial services industry; new services in insurance, where DXC is industry leader; offerings for the automotive industry, combining Luxoft’s knowledge and experience in car systems with DXC’s capabilities in cloud and security; and industry-leading services in healthcare and life sciences. Luxoft has clients in all regions of the world, particularly in Europe. In the automotive industry the combined company will serve more than twenty manufacturers and OEMs in North America, Europe and the Asia Pacific region.<br />
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<b>Luxoft will keep its brand and work as “A DXC Technology Company.”</b> It will continue to be led by the<b> company’s current president and CEO </b>Dmitry Loschinin. The <b>transaction is expected to be closed by June 2019</b>, and is subject to customary conditions and regulatory approvals.
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-23952602096806303692018-11-26T06:22:00.000-08:002018-12-10T06:25:20.252-08:00BVI company to close US$1.5mln private placement<b><a href="https://finance.yahoo.com/quote/TAOP?ltr=1">Taoping Inc.</a>, the British Virgin Islands-based company formerly known as China Information Technology, Inc.</b> and focused on providing internet-based ad distribution and ad display terminal sharing systems in China, this month announced the i<b>nitial closing of a non-brokered private placement of 1 mln ordinary shares at a price of US$1.5 per share</b>, for <b>gross proceeds of US$1.5mln</b>.<br />
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In September 2018, <b>Taoping entered into a securities purchase agreement with certain investors, pursuant to which they agreed to purchase an aggregate of 2,000,000 ordinary shares of the BVI company at a price of US$1.50 per share, for US$3mln</b>. It was expected by the company that the remaining 1 mln ordinary shares will be purchased by JW Capital Group for US$1.5mln before the end of the year. Net proceeds of the offering will be used to support global market expansion of Taoping.
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-72904894833943590332018-11-15T14:13:00.000-08:002018-11-19T14:18:08.369-08:00The unit of Atlas Mara selling 24.9% of its Botswana subsidiary<b>ABC Holdings</b>, financial services provider working in Africa, and<b> a unit of BVI-registered </b><a href="https://uk.finance.yahoo.com/quote/ATMA.L?ltr=1" style="font-weight: bold;">Atlas Mara Limited</a>, announced that it is <b>selling 24.9% of its Botswana subsidiary, BancABC Botswana, to raise US$34 million</b>.<br />
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According to BancABC Botswana, which is wholly owned by ABC Holdings, the f<b>unds raised from selling 180 million shares will be used for upgrading, developing and enhancing IT infrastructure and banking platforms across its operations in Africa</b>.<br />
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The share sale is to close on November 23. The bank said that <b>it is not a public trade, the shares were offered to private institutional investors and firm commitments were received for 148.6 million offered shares, which make 82.3% of the offer.</b> However, Managing Director of BancABC Botswana noted that <b>members of the public also have an opportunity to participate in the offer through the brokers</b>.Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-21213341350555151702018-11-05T04:26:00.000-08:002018-11-05T04:26:03.060-08:00Canadian company signed agreement with BVI-based Phoenix Capital Enterprises Ltd.<b>Cabo Drilling Corp.</b>, a drilling services company headquartered in British Columbia, Canada, announced that it has <b>signed share purchase agreement with Phoenix Capital Enterprises Ltd., a corporation domiciled in the British Virgin Islands</b>. Pursuant to the agreement, dated October 27, 2018, the Canadian company will effect <b>business combination and reverse takeover transaction as a result of which it will acquire all of the issued and outstanding common shares of Tengri Resources Pte. Ltd., incorporated in Singapore, in exchange for cash and newly issued common shares of Cabo</b>.<br />
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The transaction will be subject to relevant regulatory and stock exchange approvals, standard closing conditions, and the completion of due diligence investigations.<br />
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<b>Tengri Resources Pte, a private company wholly owned by <a href="http://www.offshorebvi.com/" title="BVI company formation. Offshore BVI companies from incorporation services firm licensed in British Virgin Islands tax haven">BVI-incorporated</a> Phoenix</b>, is the owner of 100% securities of Tengri Resources LLC, which is the 100% owner of Richfluorite LLC, which is the 100% owner of Jonsht Gazar LLC. Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-89065410447317128852018-10-25T05:07:00.000-07:002018-11-01T05:12:22.168-07:00Origin Agritech signed agreement with new investor<a href="https://bvi-companies.blogspot.com/2008/01/origin-agritech-limited.html"><b>Origin Agritech Ltd.</b></a>, an agriculture technology and rural e-commerce company incorporated in the British Virgin Islands, <b>entered into share subscription agreement with Longhan Investment Management, Co., Ltd.</b> Under the terms of the newly signed agreement, <b>Longhan will purchase 1,397,680 shares of the BVI company, for an aggregate purchase price of US$7,743,147.20</b>.
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Previously, <b>Origin and Longhan signed strategic co-operation agreement</b>, according to which both companies will integrate seed treatment, soil treatment technologies and seed breeding & biotechnology, as well as Origin’s agricultural business platform. The current <b>investment into the BVI company is expected to stimulate and speed up the strategic cooperation process</b>.
Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.comtag:blogger.com,1999:blog-3433038710735945718.post-71566827386068082772018-10-03T06:24:00.000-07:002018-10-03T06:24:06.328-07:00Burcon Nutrascience’s substantial shareholding sold through BVI companyMr Chan, the director of <a href="https://www.burcon.ca/">Burcon NutraScience Corporation</a>, announced that <b>through its wholly owned company Firewood Elite Limited, registered in the British Virgin Islands, entered into a private agreement for sale and purchase with <a href="http://www.ptcorp.com.hk/">PT International Development Corporation Limited</a></b>. According to the agreement, the <b>BVI company purchases from PT International all the issued and outstanding shares in Large Scale Investments Limited and Great Intelligence Limited</b>, at a total consideration of HK$34,732,000 (approximately C$5,788,667).<br />
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<b>Before the acquisition, PT International, through its wholly-owned subsidiaries Large Scale and Great Intelligence, beneficially owns 9,866,568 common shares in the capital of Burcon NutraScience</b>; <b>253,815 warrants</b> are held by Large Scale to purchase 253,815 Burcon common shares at a price of $2.54 per share which is exercisable until November 30, 2018; and the <b>convertible unsecured 8% promissory note in the principal amount of $2,000,000</b> is held by Large Scale. Also, before the acquisition Mr. Chan does not hold any Burcon common shares but holds 210,844 options issued by Burcon and exercisable to purchase common shares at prices ranging from C$0.69 to C$8.65 per share.
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,<b>As a result of the Acquisition, Mr. Chan was deemed to control Large Scale and Great Intelligence and to beneficially own the Sale Shares, the Burcon Warrants and the Note</b>.
The Burcon securities to be acquired by the BVI company will be held for investment purposes.Brian Obvi, Offshore Analysthttp://www.blogger.com/profile/00667434666332532717noreply@blogger.com