Chaarat Gold Holdings Limited announced that it has entered into a US$10 million loan agreement with a previous note holder in the company who is neither management nor a board member. The proceeds from the loan will be applied to BVI company’s aim of building a leading emerging markets gold company with initial focus on Central Asia and the FSU, and to support the acquisition announced in October this year.
The loan secures funding of US$10,000,000, and the guarantor is Chaarat’s subsidiary Zaav Holdings Limited. The loan is repayable after six months or nine months, at the company’s option. The total accrued interest will be fixed amount of 6.5% of the loan amount if the Loan is repaid within six months or 9.75% of the loan amount if the Loan is repaid within nine months.
The US biotechnology firm LyGenesis announced that the investment was made by the British Virgin Islands-registered holding company Juvenescence Ltd., in the amount of US$3 million.
LyGenesis is working with lymph nodes to regrow functioning organs with patient’s own body, focusing on patients with end-stage liver condition, and the investment will enable the completion of work required for human clinical trials.
LyGenesis was established on the basis of academic research, which was partially funded by the National Institutes of Health and conducted at Pittsburgh’s McGowan Institute for Regenerative Medicine, and revealed that a variety of different cells types and tissues, including the liver, could engraft and grow within lymph nodes. LyGenesis licensed patents for the technology from Pittsburgh.
BVI-registered Luxoft Holding, Inc., the global provider of software development services and IT solutions, announced the results of its Annual Meeting of Shareholders held on September 8, 2017. On August 11, 2017, which is the record date for the Annual Meeting, 22,135,741 Class A ordinary shares and 11,436,022 Class B ordinary shares were outstanding. here were 16,809,378 Class A ordinary shares and 11,436,022 Class B ordinary shares present in person or represented by proxy at the Annual Meeting.
There were two items discussed by shareholders at the Annual Meeting: the reelection of the current directors to serve until the next annual meeting, or until the election of their successors, and ratification of the appointment of Ernst & Young LLC as BVI company’s independent registered public accounting firm for the fiscal year ending March 31, 2018. Both matters were approved by more than 95 per cent of the votes cast.
BVI-incorporated Atlas Mara Limited announced the closing of US$40 million debt facility provided by the Overseas Private Investment Corporation (“OPIC”) to its subsidiary, BancABC Botswana. This is part of the US$200mln multi-country facility approved by OPIC for Atlas Mara banks in Botswana, Mozambique and Zambia in August 2015.
For the BVI company, working with OPIC and other Development Finance Institutions is a priority to facilitate focusing on profit in financial services in sub-Saharan Africa. The debt facility will be used to provide access to finance for SMEs and to accelerate company’s digital finance initiatives. It also answers Atlas Mara’s objective to support financial inclusion and expand access to finance in underserved countries.
Chairman of the Board of Atlas Mara said in his comments: “The OPIC facility underscores our commitment to working with DFIs on financial development and access to finance for SMEs and individuals in Africa and reflects our multifaceted strategic engagement with DFIs” … “As a top tier bank in Botswana, we are excited to have the support and funding of OPIC to drive financial inclusion and support our growth ambitions.”