BVI Company Financial News » Share distribution

BVI-registered Chaarat Gold Holdings Ltd announced more than £2 million share placement

admin — Mon, 15 Nov 2010 13:45:23 +0000

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.

Orca Exploration Group completed Rights Offering

admin — Wed, 13 Oct 2010 11:01:17 +0000

Orca Exploration Group Inc. announced closing of its previously announced rights offering. The BVI Group issued 4,955,687 Class B Subordinated Voting shares at a price of $3.90 per share, for gross proceeds of $19,327,179.

The Class B shares were issued to persons who exercised rights issued under the Rights Offering, and to the company Haywood Securities Inc.

Orca Exploration Group plans to use the proceeds of the Rights Offering for exploration and drilling in the Songo Songo West exploration prospect in Tanzania in the second half of 2011, and to accelerate the commercialisation of the company’s existing gas reserves in Tanzania through the infrastructure development. Some of the funds will be allocated to the development of energy infrastructure through the newly formed division of the company, EastCoast Transmission and Marketing.

BVI-registered Orca Exploration Group announced Issuer Bid for purchasing shares

admin — Fri, 01 Oct 2010 14:24:06 +0000

Orca Exploration Group Inc., an international company registered in the British Virgin Islands and focused on natural gas exploration, production and development, has announced its intention to initiate a Normal Course Issuer Bid for purchase of its Class “B” Subordinate Voting Shares, through the facilities of the TSX Venture Exchange. Subject to TSXV approval, purchases made pursuant to the Bid will not exceed 1,387,146 of the Class “B” Shares of the BVI company, representing up to 5% of the total amount of Class “B” Shares.

The Bid provisions will have effect in the period from October 10, 2010 to October 9, 2011, and Orca Exploration will not make any purchases under the Bid until after completion of its previously announced rights offering. Orca will spend a maximum of $5,000,000.

Qiao Xing Universal purchases shares

admin — Sat, 03 Jul 2010 15:12:58 +0000

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.

PTQ approves share transaction with its BVI subsidiary

admin — Fri, 05 Jun 2009 01:34:51 +0000

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.