After the Reverse Split, every eleven ordinary shares outstanding prior to the Reverse Split will be converted to two ordinary shares. Any owner of less that one full share of the new shares will receive cash in lieu of the fractional shares.

The company’s transfer agent, American Stock Transfer & Trust Company, LLC, will process the corporate action. BVI company’s shareholders are required to exchange their current stock certificates for new ones representing new shares.

In the first press release, the BVI company announced that “D” would be added on the ticker symbol for 30 days once the Reverse Split is effective. However, on January 17 the company corrected the previous announcement, saying that no change would be made to the trading symbol upon effectiveness of the Reverse Split.

For the six months ended June 30, 2011, the BVI company reported net income in the amount of US$1,330,000. At the same time, the further drop of revenues from trading business was US$2,139,000.

Company’s operating results changed from the loss for the six months ended June 30, 2010 to a net income for the six months ended June 30, 2011 – principally due to the reduction of selling and administrative expenses of approximately US$428,000.

After these purchases, company’s chairman has a beneficial interest in 10,100,000 shares that represent approximately 4% of company’s issued share capital.

In case the proposed acquisition of Caledon will be completed by Guangdong Rising at the announced price, Polo will receive total proceeds on disposal of its interest of approximately £100 million equivalent to approximately 4.36p per issued Polo share.

Neil Herbert, Executive Co-Chairman and Managing Director of Polo Resources, said in his comments that “The disposal of our interest in Caledon will provide the company with £100 million in additional liquidity. Subject to and upon completion of the sale and receipt of cash proceeds, the Board of Polo intends to utilise part of the proceeds to fund a special dividend to shareholders of 1p per share.
Polo’s strategy is to identify assets, listed and private, which have the potential to increase shareholder value…”

The BVI company has received commitments to subscribe for 100,142,670 new ordinary shares to raise approximately £50.1 million. Additionally, Chaarat has received commitments to subscribe for 3,147,798 new ordinary shares through direct subscriptions.

Chaarat Gold Holdings is currently in the process of compiling a Definitive Feasibility Study for the Tulkubash Project and a Pre-Feasibility study on the much larger Kiziltash project in the Kyrgyz Republic, and significant part of the net proceeds of the fundraising will be deployed towards developing the required infrastructure for both projects.

The subscription shares will represent approximately 2.1 per cent of the enlarged issued share capital of the company following First Admission, which will be 150,181,698 ordinary shares. The placing shares will represent approximately 40.0 per cent of the issued share capital of the BVI company following Second Admission, which will be 250,324,368 ordinary shares.

In July 2010, the BVI holding was notified by NASDAQ that it did not meet the minimum bid price rule required for continued listing. The company had time until January 24, 2011 to achieve compliance with the minimum bid rule, however now it was announced by the company that it has time until July 21, 2011 to regain compliance.

China Cablecom will achieve compliance if the closing bid price of the company’s common stock is at least US$1 per share for a minimum of 10 consecutive business days before July 21, 2011.

The executive also noted that the company is likely to receive similar premium growth in 2011 and in 2010. In the next few years, the company expects significant growth in Mexico, Colombia, Peru, Brazil and Argentina.

Barents Re is one of the largest reinsurance companies in Latin America, mainly focused on facultative reinsurance for mass market insurance products, surety bonds and financial risks. The company has representative office in Venezuela, an office in Miami and a subsidiary in Belize. It is now in the process of entering Puerto Rico, to start operations there in 2011. Last year Barents Re had approximately US$11 million in net profits, ROE of 16.9% and net loss ratio of 56%.

AOL entered into a Securities Purchase agreement with BVI-based Digital Sky Technologies for the sale of its ICQ operations on April 28, 2010. The company is planning to use the money from this deal for buying media properties, paying some of its debt, or just covering some ad revenues.

The BVI company will continually announce updates on its Preferred Shares conversions of its debt holders as a result of provisions from the closing of the restructuring in autumn 2009.

It is provided by the terms of the Junior Secured Notes that during 14 months following the closing of the restructuring, conversions of any Series A Preferred Shares issued to that noteholder will result in an automatic cancellation of debt. China Cablecom’s outstanding debt from the secured and unsecured promissory notes is approximately $21.8 million. Now, cumulatively $1.7M in principal debt is reduced.

Also, China Cablecom announced that on April 6, 2010, before the US markets opening, it will report the financial results for the fourth quarter and full year period ended  December 31, 2009. Additionally, China Cablecom’s management team will host an earnings conference call on April 6.

The British Virgin Islands-registered holding company Global-Tech Advanced Innovations Inc. reported its financial results for the fiscal quarter ended December 31, 2009, which is the company’s third quarter of fiscal 2010.

In the third quarter of the year, company’s net sales made $25.7 million – a 68.1% increase when compared to $15.3 million for the third quarter of 2009. Net sales of electronic components increased approximately 37% in the third quarter of fiscal 2010, compared to the same quarter of the previous year. Also, in this period net revenues from telecommunication manufacturing services exceeded 10% of total revenues, compared to less than 3% of total revenues in the third quarter of the previous year.

Net income for the third quarter of the year was $0.7 million, or $0.24 per share, compared to a net loss of $1.8 million, or $0.57 per share, for the third quarter of fiscal 2009. Net sales for the nine months ended December 31, 2009 were $80.4 million, that is 13.7% more than in the same period of fiscal 2009. Net income for the first nine months of fiscal 2010 was $3.4 million, or $1.13 per share, compared to a net loss of $1.7 million, or $0.54 per share, for the first nine months of 2009.

By words of Global-Tech’s President and CEO John C.K. Sham, it is essential for the company “to continue to focus on the development of new products with higher profit margins and the further expansion of business.”