Aura Minerals announced completion of share consolidation

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.

Euro Tech holding reported unaudited financial results for 1H 2018

Euro Tech Holdings Company Limited announced the unaudited financial results for the six months period ended June 30, 2018. The BVI company reported 9.29% increase of revenues from approximately US$8,707,000 for the six months ended June 30, 2017 to approximately US$9,516,000 in the same period of this year. During this period, revenues from trading activities increased by US$264,000, and from manufacturing activities they increased by US$545,000.

In 1H 2018, Euro Tech’s gross profits made approximately US$1,460,000, which is 23% decrease as compared to approximately US$1,895,000 for the first half of the previous year. The reason of the decrease was mainly the fall of the gross profit margin percentage of contract in the highly competitive market circumstances.

Selling and administrative expenses made approximately US$2,437,000 in the first six months of 2018, compared to approximately US$2,491,000 for 1H 2017. Net profit was approximately US$878,000 in the reported period, as compared to net loss of approximately US$92,000 in the same period of 2017.

The BVI company declared and paid dividend of US$0.70 per share. It is expected that the economic slowdown in China will adversely affect the performance of Euro Tech in the second half of 2018.

Chaarat announced entering into new loan agreement

Chaarat Gold Holdings Limited announced that it has entered into a US$10 million loan agreement with a previous note holder in the company who is neither management nor a board member. The proceeds from the loan will be applied to BVI company’s aim of building a leading emerging markets gold company with initial focus on Central Asia and the FSU, and to support the acquisition announced in October this year.

The loan secures funding of US$10,000,000, and the guarantor is Chaarat’s subsidiary Zaav Holdings Limited. The loan is repayable after six months or nine months, at the company’s option. The total accrued interest will be fixed amount of 6.5% of the loan amount if the Loan is repaid within six months or 9.75% of the loan amount if the Loan is repaid within nine months.

Hollysys Automation Technologies announced financial results for Q1 of fiscal year 2019

Hollysys Automation Technologies, the leading provider of automation and control technologies and applications in China, incorporated in the British Virgin Islands and headquartered in China, announced its unaudited financial results for fiscal year 2019 first quarter ended September 30, 2018.

For this period, company’s total revenues were US$138.7 million, which is 20.1% higher as compared to the same period of the previous year. Non-GAAP net income attributable to Hollysys was US$28.1 million, an increase of 27.9% compared to the first quarter of fiscal 2018.
Non-GAAP gross margin was at 37.2% (36.6% for the same period of the prior year). Diluted earnings per share were US$0.46, an increase of 27.8% as compared to the first quarter of fiscal 2018.

The BVI company reported that for the current quarter net cash provided by operating activities was US$36.6 million.