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.
Artificial intelligence technology company Insilico Medicine, Inc., which created joint venture with BVI-registered holding Juvenescence Limited, recently completed a US$37mln funding round led by Qiming Venture Partners and joined by Eight Roads, F-Prime Capital, Lilly Asia Ventures, Sinovation Ventures, Baidu Ventures, Pavilion Capital, BOLD Capital Partners and other investors.
The Series B funding will be used to commercialize the validated generative chemistry and target identification technology, as well as to build a senior management team with the experience in the pharmaceutical industry and to further develop specific therapeutic programs.
Insilico Medicine has developed and validated a comprehensive drug discovery pipeline and identified targets in a variety of therapeutic specialties, among them cancer, fibrosis, NASH, immunology and CNS. Through a network of joint ventures, including that with the BVI company, Insilico Medicine is powering the new digital-age biopharmaceutical industry.
It was reported by the Board of the BVI-registered company Premier African Minerals Limited that together with Regent Mercantile Holdings Limited they agreed to extend the repayment terms of the convertible loan note for US$350,000, which was entered into in June 2019.
Under the terms of the Loan Agreement and related Subscription Agreement, signed with Regent, the BVI company had to make two equal payments on 1 August 2019 and 1 September 2019. In case Premier failed to make direct repayment of the Loan Agreement, Regent could convert any percentage of payment into new shares of the BVI company, at a conversion price equal to 90 per cent of the daily volume weighted average price.
According to the extension agreement, the Premier will have to repay the principal amount including any interest under the Loan Agreement until 31 January 2020. In consideration of the repayment extension for the period, Regent will have the right to elect a Conversion of the Principal Amount. Upon the expiry of the period the BVI company will have 5 days to settle any outstanding amounts under the Loan Agreement, including all outstanding interest thereon.