BVI company Euro Tech Holdings Company Limited announced that its board of directors has authorized the issuance of bonus shares. The shares are to be issued on October 8, 2019 to shareholders of record as of September 23, 2019, which will receive one ordinary share for every two ordinary shares held.
All share issuances resulting in a fractional share will be rounded to the next whole share. Shareholders should not take any action to receive the bonus shares, and shares held in brokerage accounts and street name should receive the bonus shares by credit to their brokerage account. American Stock Transfer and Trust LLC is an agent for administration of the shares issuance.
BVI-incorporated mining company Chaarat Gold Holdings Limited proposed to raise Capital up to US$11mln, through a Convertible Bond issue of US$10mln and placing of ordinary shares of US$1mln, for the issue price of 30p. The new investor provided secured commitment to subscribe for US$10 mln , while the Board and senior management of the company are interested to participate in the Placing for approximately US$1mln.
The fund raising in the amount of US$11 mln completes the short-term funding plans of Chaarat Gold. To facilitate the introduction of long-term investing partners, the Board of the BVI company will consider additional subscriptions from current shareholders and new investors totaling up to US$5 mln. General Meeting for shareholders is expected to be held on or about 26 April 2019.
The capital raising will provide Chaarat with growth capital of approximately US$41 mln, at the same time it will assist in widening company’s shareholder base, which has already risen after company’s acquisition of the Kapan mine in Armenia, which transformed the BVI company from developer to producer. One of the key strategic objectives is to minimise dilution to shareholders.
BVI-registered mining company Aura Minerals Inc. completed the previously announced consolidation of its common shares, on the basis of one new share for ten old shares. The consolidation is effective from December 31, 2018, and common shares will begin trading on the TSX Exchange on January 7, 2019.
As a result, the number of issued and outstanding shares will be reduced from 43,377,336 to 4,337,733, while shareholder’s percentage ownership and proportional voting power will remain the same, except for minor changes and adjustments made due to the treatment of fractional shares.
Registered shareholders of the BVI company will receive letter of transmittal from the Aura’s transfer agent, which will enable registered shareholders to exchange their old share certificates representing pre-consolidation shares for post-consolidation shares.
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.