BVI-registered corporation Premier African Minerals Limited announced the launch of an offer via the PrimaryBid, which was successfully completed and closed on 11 December 2019. After the closing of the offer, the BVI company has raised gross proceeds of £262,293.00 at an issue price 0.1 pence per ordinary share via the Fundraising. To satisfy the Fundraising, Premier African Minerals has issued 262,293,000 New Ordinary Shares, and the application will be made for them to be admitted to trading on AIM. The shares are expected to be admitted to trading on December 18, 2019. Following the issue of the New Ordinary Shares, the company will have 11,266,071,580 ordinary shares of nil par value in issue.
CEO of the company George Roach said in his comments: “With our Zimbabwean operations being on the verge of hopefully turning a corner, we believe that this was a good opportunity for investors to participate in a fundraise on the retail friendly platform of PrimaryBid. We wish to express our sincerest appreciation to all participants in this successful fundraise.”
Hutchison Port Holdings, a private holding company registered in the British Virgin Islands and headquartered in Hong Kong, has started port expansion project in Pakistan. The Group Managing Director had a meeting with the Prime Minister of Pakistan Imran Khan and with Ambassador at Large for Foreign Investment Mr. Ali Jehangir Siddiqui, where he presented Hutchison Ports’ global network consisting of 52 ports and including the operations in Karachi for over 20 years. During the meeting, the director of the BVI holding was accompanied by Mr. Andy Tsoi, Managing Director Middle East & Africa and other senior executives of Hutchison Ports.
Hutchison Port Holdings confirmed the commencement of the construction of the second phase of Pakistan Deep Water Container Port project with US$240 million of new investment, to achieve a handling capacity of 3.2 million TEU upon completion. Total investment of Hutchison Ports in Pakistan will annually bring over US$96 million to the government in the form of taxes and concession fees.
Also, the representative of the BVI company highlighted the technologies and industrial practices brought to the country by Hutchison Ports, the most recent of which was Regional Operations Centre. The port industry of Pakistan for the first time received such technologies as the remote-controlled ship-to-shore cranes and semi-automated yard cranes.
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.”
RTG Mining Inc., an international mining exploration company incorporated under the law of the British Virgin Islands, has entered into an agreement with its joint venture partner, Elephant Copper Ltd. Under the terms of the agreement, the company sells 51 per cent interest in the Mkushi Copper Project in Zambia. The completion of the sale is expected in mid September 2013.
The purchase price of the transaction in the amount of US$13.1m will be satisfied by issuing US$6.6m in new fully paid ordinary shares in Elephant Copper, and a US$6.5m unsecured redeemable convertible note, which will be repayable on or before 1 January 2015, if not converted earlier.
Elephant Copper Ltd. is now in the process of completing a “go public event” through a transaction. It will also repay, on or before 1 January 2014, certain debts owing to RTG, which are currently in the order of US$1.35m.