Archive for the ‘Share distribution’ Category

Qiao Xing Universal purchases shares

Saturday, July 3rd, 2010

Qiao Xing Universal Resources, Inc, a BVI-incorporated company engaged in manufacturing and distribution of telecommunications terminal products, announced that its chairman and CEO resumed a share repurchase to buy back up to US$10 million in stock belonging to the Chinese resources company.

The share repurchase by the chairman of the BVI company resumed in April, 2010. He purchased 500,000 shares and plans to reach the $10 million limit next year. With approximately 36 percent interest in Qiao Xing, he is the largest shareholder of the company.

The share repurchase program was announced in September 2008 and had been on hold because of market uncertainty caused by the global crisis.

Posted in Securities Purchase Agreement, Share distribution | No Comments »

PTQ approves share transaction with its BVI subsidiary

Friday, June 5th, 2009

The Canadian gold producer Petaquilla Minerals Ltd. informed about its intention to distribute to its shareholders one share of its BVI-registered wholly-owned subsidiary Petaquilla Infraestructura Ltd. for each four shares of PTQ, held on the record date for the distribution. The distribution of the shares of the BVI company will be effected by the plan of arrangement or some other tax-efficient mechanism. The completion of the transaction is expected in the third quarter of 2009.

Petaquilla Infraestructura Ltd. was incorporated in the British Virgin Islands for overseeing the construction, operation and management of infrastructure facilities needed for the development of the Petaquilla Mining District in Panama. The company is engaged in activities in the field of construction, power, and mining services.

BVI-based PQI has announced a private placement subscription of two million shares at CAD $1.00. After the closing of the private placement, PQI will have 52 million shares issued and outstanding and CAD $2 million in cash.

After closing the private placement and the completion of the arrangement, PTQ will retain between 12% and 23% of the issued shares of PQI; the PTQ shareholders will hold between 47% and 58% of the issued shares of the BVI company. PTQ also announced the sale of 28% of PQI.

Posted in BVI Company Private Placement, BVI Company projects, Share distribution | No Comments »