BVI-incorporated and HK-based company Asian Growth Properties Limited, focused on China property development and investments, has received notifications from its directors which announced their respective deemed interests in the ordinary shares of US$0.05 each in the company.
Directors’ deemed shareholding interests, after the acquisition of 350,000 SEA Holdings Limited shares by Nan Luen International Limited, include: SEA Holdings Limited, which is beneficially entitled to about 97.17 per cent of the existing issued share capital of the BVI company; Nan Luen International Limited with direct shareholding interest of 65.12% of the issued share capital of SEA; JCS Limited, with direct interest of 63.58% in the issued share capital of NLI; NYH Limited with 0.609% interest in SEA.
As a result of the above acquisition, the executive director of the company, Mr. Lu Wing Chi, is deemed to have an indirect beneficial shareholding interest in 362,012,729 shares, which represent approximately 40.84% of the existing issued share capital of the company. Mr. Lincoln Lu, the executive director of the company, has an indirect beneficial shareholding interest in 132,361,334 shares, representing approximately 14.93% of the existing issued share capital of the BVI company. Another 14.82% of the share capital, or 131,327,800 shares, are held by the executive director of the company Mr. Lambert Lu.
On 15 November 2014, BVI-based company Atlas Mara Co-Nvest Limited granted options over a total of 145,000 ordinary shares to its Chief Financial Officer Arina McDonald. All such options are exercisable at a price of US$9.50 per ordinary share (the closing price on 14 November 2014). According to company’s further announcement, on 17 November 2014 its CFO was issued 161,527 ordinary shares, as a result of awards she had to forego from her previous employment.
Ms McDonald currently holds 161,527 ordinary shares in the Company and 145,000 options under the Company’s Global Share Option Plan.
It is expected that the 161,527 ordinary shares will be admitted to trading on the London Stock Exchange on or around 20 November 2014.
West African Minerals Corporation announced that it has issued 52,797,738 new ordinary shares at a placing price of 7p per share, together with one warrant for each two shares, to raise approximately £3.7 million before expenses subject to admission. Each warrant is exercisable for one new ordinary share at a price of 10p per ordinary share for a period of two years.
The new shares will rank equally with the existing ordinary shares in issue and application will be made for them to be admitted to trading on AIM. The placing shares will represent 15.44 per cent of the enlarged share capital of the BVI corporation. The Warrants are unlisted and will not be admitted to trading on AIM.
Some major shareholders of West African Minerals Corporation had indicated that they were willing to support a fund raising should this be approved by the Board. Following the issue of the Placing Shares, the company’s issued share capital will consist of 341,893,917 ordinary shares, with voting rights.
British Virgin Islands-registered Chaarat Gold Holdings Limited announced the issue of 5,700,000 new ordinary shares of US$0.01, at a placing price of 46 pence per share, to ASVI Inc. ASVI is a company based in Malaysia, providing high end technical support to mining projects.
Following the issue of the Placing Shares there will be 147,033,900 ordinary shares of US$0.01 in issue. The Placing, which is being conducted under the existing power granted to the Directors to allot shares, is expected to be completed on 15 November 2010, on admission of the Placing Shares to trading on AIM.
The anticipated investment of approximately £2 million by China Nonferrous Metals International Mining Co Ltd has been canceled due to the regulatory delays in obtaining approval for the investment. ASVI indicated its interest in purchasing the shares from the canceled subscription, thus generating approximately 15% more cash for the company than through the CNMIM investment.
CEO of Chaarat Dekel Golan in his comments on the transaction said that ASVI’s substantial expertise will assist Chaarat, by providing high level consulting advice including on the exploration and project development of the Chaarat projects.