BVI-incorporated company Novel Sunrise Investments Limited, which is the largest shareholder of SouthGobi Resources Ltd., entered into an Option Agreement with the private company Voyage Wisdom Limited. Under the terms of the agreement signed on April 15, 2016, the BVI company granted Voyage Wisdom an option to purchase, and Voyage Wisdom granted Novel Sunrise an option to sell 25,768,162 common shares of SouthGobi Resources, for a total price of US$24,000,000, or US$0.93138 per share, to be paid in cash. The option shares represent 10 per cent of the total number of common shares of SouthGobi, issued and outstanding.
Both options may be exercised by the companies in whole but not in part, at any time prior to April 21, 2016 or later as the parties may agree, but no later than October 21, 2016.
Currently, Novel Sunrise owns and controls 72,127,140 common shares of SouthGobi (including the above 10%), which represent 27.99 per cent of the total number of common shares of the company.
Showing posts with label Option Agreement. Show all posts
Showing posts with label Option Agreement. Show all posts
Thursday, April 28, 2016
Tuesday, March 25, 2014
MDM Engineering Group signed agreement to merge with Foster Wheeler AG
MDM Engineering Group Limited, BVI-registered company engaged in mineral process engineering and project management, signed a merger implementation agreement with Foster Wheeler AG, the global engineering and construction company and power equipment supplier registered in Switzerland and having its operational headquarters in the United Kingdom.
Under the terms of the merger agreement, Foster Wheeler’s BVI subsidiary, Foster Wheeler M&M Limited, will acquire all the ordinary shares in MDM; the offer price is £1.70 cash per share. Foster Wheeler will also make an offer to acquire all outstanding options held over the shares of MDM. All the ordinary shares and options will be purchased by the company in issue in a cash transaction of approximately £65.3 million.
MDM shareholders representing 42.4% of the issued ordinary shares of the BVI company have executed agreements under which agreed to vote in favour of the proposed merger. It is expected that the Notice of Extraordinary General Meeting relating to the offer will be despatched to MDM shareholders by the end of March 2014, with the general meeting in relation to the transaction to be held on or around 11 April 2014.
The BVI company expects the transaction to be completed in August 2014, subject to the approval by shareholders. Upon the implementation of the merger, the admission to trading of MDM’s ordinary shares on the AIM Market will be cancelled.
Under the terms of the merger agreement, Foster Wheeler’s BVI subsidiary, Foster Wheeler M&M Limited, will acquire all the ordinary shares in MDM; the offer price is £1.70 cash per share. Foster Wheeler will also make an offer to acquire all outstanding options held over the shares of MDM. All the ordinary shares and options will be purchased by the company in issue in a cash transaction of approximately £65.3 million.
MDM shareholders representing 42.4% of the issued ordinary shares of the BVI company have executed agreements under which agreed to vote in favour of the proposed merger. It is expected that the Notice of Extraordinary General Meeting relating to the offer will be despatched to MDM shareholders by the end of March 2014, with the general meeting in relation to the transaction to be held on or around 11 April 2014.
The BVI company expects the transaction to be completed in August 2014, subject to the approval by shareholders. Upon the implementation of the merger, the admission to trading of MDM’s ordinary shares on the AIM Market will be cancelled.
Sunday, March 14, 2010
TSX Venture Exchange announces share purchase agreement between BVI company holders and Challenger Development Corp.
Recently TSX Venture Exchange announced that it accepted for filing documentation connected to an amended and restated option agreement between Challenger Development Corp. and Musadik Mohamed Ally ("MMA") and Najua Kassira ("NK"). Under this agreement dated January 20, 2010, Challenger Development was granted an option to acquire 70% interest in certain gold claims located in Tanzania.
MMA and NK will be the registered and beneficial owners of 100% of the issued and outstanding capital stock of the British Virgin Islands-incorporated company Harbour Green Investments Limited, which may incorporate and wholly own a private company under the laws of Tanzania to hold the gold claims. MMA and NK have agreed to grant Challenger Development an option to a 70% direct interest in the gold claims, or a 70% equity interest of this BVI-controlled private company. In order to earn the option, the company must: within five business days make a cash payment of $350,000 to MMA and NK; incur exploration expenditures on the gold claims in Tanzania, the first of which should be on or before November 30, 2010; and issue 2,000,000 of its common shares to MMA and NK.
MMA and NK will be the registered and beneficial owners of 100% of the issued and outstanding capital stock of the British Virgin Islands-incorporated company Harbour Green Investments Limited, which may incorporate and wholly own a private company under the laws of Tanzania to hold the gold claims. MMA and NK have agreed to grant Challenger Development an option to a 70% direct interest in the gold claims, or a 70% equity interest of this BVI-controlled private company. In order to earn the option, the company must: within five business days make a cash payment of $350,000 to MMA and NK; incur exploration expenditures on the gold claims in Tanzania, the first of which should be on or before November 30, 2010; and issue 2,000,000 of its common shares to MMA and NK.
Friday, March 6, 2009
Canadian company acquires 60 per cent of BVI-controlled Sunland Properties
The Canadian company Carlyle Mining Corp has announced that it has received notice from the TSX Venture Stock Exchange saying that the trading halt that was placed on shares of the Company on July 11 2008 is lifted effective at the opening of the market on February 25, 2009. The Transaction was previously described in its news release dated December 23, 2008, announcing that it had entered into a share option agreement, to acquire 60% of the issued and outstanding shares of Sunland Properties Limited. Sunland, which is owned by a British Virgin Islands-registered Rowen Company Limited, and controls 520 square kilometres of prospective copper-gold properties situated in south eastern Queensland, Australia.
The properties consist of two exploration permits and one exploration permit application, acquired by Rugby Mining Pty Limited, – a wholly owned subsidiary of Sunland, - from Newcrest Operations Limited. Rugby made the EPA directly with the Queensland Government Department of Mines and Energy.
Pursuant to the Agreement, Carlyle will advance to the BVI-registered Rowen Australian $25,000 as a non-refundable deposit. In order to maintain its option, the Agreement provides that Carlyle will pay to Rowen (BVI) AU$200,000 in cash, which is payable on closing of the Transaction, or within 30 days of completion of any future capital raising financing by the Company.
After the closing of the transaction, Carlyle will be called Rugby Mining Limited, and will change its trading symbol to RUG. An aggregate 16,000,000 common shares will be issued and outstanding.
The properties consist of two exploration permits and one exploration permit application, acquired by Rugby Mining Pty Limited, – a wholly owned subsidiary of Sunland, - from Newcrest Operations Limited. Rugby made the EPA directly with the Queensland Government Department of Mines and Energy.
Pursuant to the Agreement, Carlyle will advance to the BVI-registered Rowen Australian $25,000 as a non-refundable deposit. In order to maintain its option, the Agreement provides that Carlyle will pay to Rowen (BVI) AU$200,000 in cash, which is payable on closing of the Transaction, or within 30 days of completion of any future capital raising financing by the Company.
After the closing of the transaction, Carlyle will be called Rugby Mining Limited, and will change its trading symbol to RUG. An aggregate 16,000,000 common shares will be issued and outstanding.
Tuesday, October 7, 2008
Pacific Asia Petroleum acquires China interests from the BVI group
Pacific Asia Petroleum Inc., the U.S. corporation specially focused on developing a broad range of energy opportunities in China, informed about its plans to acquire interest in two producing areas onshore China from BVI-based Well Lead Group Ltd., for a total deal value of $9.8 million - $5 million in cash and $4.8 million in stock. Purchased stock includes 25% interest in Northeast Oil (China) Development Ltd.'s 95% interest in two oilfield blocks covering 34 square kilometers in the Heilongjiang province. Also, the US company has the option to acquire additional 14% interest, for a total $5.5 million at closing, and the total share of the company will reach 39%.
Frank Ingriselli, Pacific Asia president and chief executive, commented that this acquisition will allow Pacific Asia to expand on its onshore oil-production opportunities in China. Both the US and BVI companies are planning to drill production wells during the next few years to maximize commercial production from the China blocks.
Frank Ingriselli, Pacific Asia president and chief executive, commented that this acquisition will allow Pacific Asia to expand on its onshore oil-production opportunities in China. Both the US and BVI companies are planning to drill production wells during the next few years to maximize commercial production from the China blocks.
Wednesday, July 23, 2008
BVI corporation sells Sunland Properties to Carlyle Mining Corporation
A BVI-registered company Rowen Company Limited has decided to dispose of Sunland Properties Limited.
A publicly listed company Carlyle Mining Corporation has recently announced entering into an option agreement for the acquisition of Sunland Properties Limited controlling 520 square kilometers of prospective copper-gold tenements located near Hawkwood in South-Eastern Queensland, Australia, from a British Virging Islands corporation Rowen Company Limited.
Rowen Company Limited is controlled by Bryce Roxburgh – is a director of Carlyle Mining Corporation, accordingly, the acquisition is subject to approval of Carlyle's shareholders.
As a result of the acquisition of Rowen-owned Sunland, there will be no change to the current Board of Directors or management of Carlyle Mining Corporation.
A publicly listed company Carlyle Mining Corporation has recently announced entering into an option agreement for the acquisition of Sunland Properties Limited controlling 520 square kilometers of prospective copper-gold tenements located near Hawkwood in South-Eastern Queensland, Australia, from a British Virging Islands corporation Rowen Company Limited.
Rowen Company Limited is controlled by Bryce Roxburgh – is a director of Carlyle Mining Corporation, accordingly, the acquisition is subject to approval of Carlyle's shareholders.
As a result of the acquisition of Rowen-owned Sunland, there will be no change to the current Board of Directors or management of Carlyle Mining Corporation.
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