Archive for the ‘BVI company acquisitions’ Category

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BVI company acquires China-based HR solution and service provider

Thursday, September 22nd, 2011

Pansoft Company Limited, a British Virgin Islands-registered provider of ERP software and professional solutions for oil and gas industry in China, has signed an agreement to acquire all of the equity interests of Hefei Langji Technology Co., Ltd. and its wholly-owned subsidiary, Shanghai Zhongrui, on September 9, 2011. The total purchase price of the company, which is approximately US$1.69 million, is payable in four installments. The first installment will represent 35% of the total purchase price, and will be paid in a combination of cash and the common stock of the BVI company; the three other installments are required to be paid on an annual basis over the next three years in a combination of cash and the common stock of the company.

One of the companies acquired by Pansoft, Hefei Langji Technology, is the leading HR solution provider to China’s coal-mining industry. Shanghai Zhongrui is Shanghai-based sales and marketing arm of Langji. It will remain Langji’s subsidiary and will focus on small and medium-sized companies in other industries.

A part of the acquisition consideration will be paid from shares repurchased by Pansoft on the open market. As of September 15, 2011, Pansoft had repurchased more than 157,000 of its common shares, which will be used to fund the acquisition.

Posted in BVI Company projects, BVI company acquisitions, BVI company contracts | 1 Comment »

BVI-domiciled company acquired securities of Zaruma Resources Inc.

Wednesday, June 8th, 2011

Zaruma Gold Mining Ltd., the company domiciled in the British Virgin Islands, announced that pursuant to a private placement financing by Zaruma Resources Inc., it subscribed for and acquired ownership of 390,920,000 subscription receipts of Zaruma Resources. The price is Cdn$0.05 per Subscription Receipt, for aggregate consideration of Cdn$19,564,000. This represented approximately 83.79% of the 466,562,418 Subscription Receipts issued pursuant to the Private Placement. Each Subscription Receipt represents the right to receive one unit of the Corporation, without payment of additional consideration and without any further action on the part of the BVI company.

Prior to the acquisition of the Subscription Receipts, Zaruma Gold Mining Ltd. owned 2,300,000 common shares and 2,300,000 warrants of the corporation. Upon the satisfaction of the Escrow Release Conditions and the conversion of the Subscription Receipts into Units of the Corporation, the BVI company will have ownership of 393, 220,000 common shares. This amount represents approximately 66.63% of the then issued and outstanding common shares of the corporation on an undiluted basis, or 786,440,000 Common Shares or approximately 79.97% on a partially diluted basis.

The subscription receipts were acquired by the BVI company for investment purposes.

Posted in BVI company acquisitions, Securities Purchase Agreement | No Comments »

Chinese insurance company receives acquisition proposal from BVI company

Monday, May 16th, 2011

On May 14, 2011, Cninsure Inc., an independent insurance intermediary company operating in China and listed on Nasdaq, received a preliminary non-binding proposal letter from TPG Asia V MU, Inc., Kingsford Resources Limited, a company registered in the British Virgin Islands, and CDH Inservice Limited, to acquire all of the outstanding ordinary shares of the company. The shares are to be purchased in a going private transaction for US$19.00 per ADS, or US$0.95 per ordinary share, in cash, subject to certain conditions.

The Board of Directors is reviewing and evaluating the proposal, there can be no assurance that any definitive offer will be made, any agreement will be executed or this or any other transaction will be approved or consummated.

Cninsure Inc. is distributing a wide variety of property and casualty and life insurance products underwritten by domestic and foreign insurance companies operating in China, and provides insurance claims adjusting as well as other insurance-related services.

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BVI-based Southern Field Ltd to purchase stake in Philippines firm

Tuesday, April 26th, 2011

Philippines farming company AgriNurture, Inc. has sold a 6.4% stake in its company to investors, that is over 14.8 million shares, to raise P110 million for its five-year expansion plan. The shares were sold to the British Virgin Islands-registered firm Southern Field Ltd., and a businessman named Apolinario Gomez at the price of P7.42 a piece, this is about 3.5% lower that the shares’ previous closing price of P7.69. The individual subscriber, Mr. Gomez, purchased 10 million shares worth P74.2 million, while the foreign investor took the balance of some 4.82 million shares for P35.8 million.

Southern Field’s new shares come on top of its previous purchase of around 4.03 million shares, raising the BVI company’s stake in AgriNurture to 4.06%. As of last month, Southern Field also held a minority stake in the firm named MUSX Corp.

AgriNurture Chief Executive Officer Antonio L. Tiu said that the money raised from these shares are only part of the required capital expenditure for company’s long-term expansion plan worth P2 billion.

Posted in BVI company acquisitions, BVI company contracts | No Comments »

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