Archive for the ‘BVI company investments’ Category

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BVI company purchases the UK Football Club

Thursday, July 2nd, 2009

Munto Finance Limited, a specially formed company incorporated in the British Virgin Islands, is planning to purchase Notts County football club from the second football league. By the structure of this investment, no existing shareholders of the club will get shares in this company or the Investment Fund as part of the deal.

Munto Finance, whose owners are from the Middle East, provided a guaranteed undertaking to invest in the club, and a suitable proof of funds to the Board of Notts County and the Board of the Trust. Currently the Notts County Board and Trust Board who represent the shareholders of the club should make investigation and research on the investment porposal. The UK regulated (FSA) merchant bank has advised on the transaction; also, in the opinion of the board, the advisers and the shareholders, due diligence has been done, and the deal has been unanimously recommended.

Posted in BVI Company Contracts, BVI company investments, Investors' News | No Comments »

London Town took three short-term loans from BVI company

Thursday, May 21st, 2009

An AIM-listed group London Town that operates 266 pubs because of some financial problems had to take three short-term working capital loans over the past 13 months. The company received three loans, totalling £6m, from the British Virgin Islands-registered Burac Invest and Trade, and it has been paying 10-15 per cent interest rates on these loans. On behalf of the Horizon Charitable Trust, this BVI company holds 48.4 per cent of the issued share capital of London Town.

London Town was established as a residential property developer. It came into the sphere of pub trade just in 2006 when it purchased 167 pubs for £94.7m from retired property investor.

The deal which was known as the first step in building London Town into a significant player in the pub industry, was funded through a £72.8m loan from Anglo Irish Bank, a £14m discounted bond issue and a £14.3m share placing. However, there is a drop in the pub industry now, so the acquisition along with three other smaller deals of London Town with the BVI company that followed in the next months, seems to be not in time.

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Malaysian IGDX launches gold trading platform on the basis of BVI company

Friday, February 13th, 2009

Malaysia-based gold trading company IGDX, listed in Australia, and private company Ryefield Holdings start the trading platform Goldzone Investments, a company registered in the British Virgin Islands. IGDX-controlled EDS Software Solutions will own 70% of Goldzone, and Ryefield will hold the  remaining 30%. The BVI company will be managed by IGDX subsidiary, and Ryefield will assist in establishing counterparty agreements, especially in Indonesia.

By IGDX estimates, annual revenues of the BVI company will make $USD 9 million. The trading platform is designed to allow customers to go long and short in electronic and pit gold markets. It will be trialled in Indonesia. IGDX considers that the Goldzone platform’s popularity will grow due to the financial crisis, because more and more traders prefer to invest in gold, and gold price is rising.

However, there is a possibility that IGDX will go through insolvency procedure. Having announced the launch of Goldzone, it sent a letter to the ASX stock exchange with the report about whether the company’s cash flows would allow it to trade for another two quarters of the year. The Malaysian company was listed in early 2007, and since that time and until launching a new financial market its only businesses have been a HK-based gold coin dealing, and a business in Malaysia.

Posted in BVI Company Contracts, BVI company investments, BVI Holding Companies, BVI IBC Business News | No Comments »

BVI Group expands its Toronto office

Wednesday, January 21st, 2009

Venulum, BVI-registered private wealth management firm, which is conducting multinational business and has been recently named third among all mortgage backed arbitrage funds in all jurisdictions, now has announced the expansion of its Toronto operations on Canada’s equivalent of Wall Street – alongside the world’s leading financial institutions. The BVI group has doubled its office space in the Royal Trust Tower, which is part of the Toronto-Dominion Centre, which is considered to be the most important financial centre in the country, home to some of the world’s most established and respected financial institutions including Price Waterhouse Coopers & Deloitte and Touche.

Richard Lowden, CFO & Senior Vice-President of the Venulum Group, said that the business growth, which is going on despite the current economic climate, became the reason for the expansion. BVI company’s property and wine investments are holding up well, and it was noted by the Chairman of Venulum concerning Venulum’s property that the company is “entering a period of great opportunity to acquire some bargains in the property markets, and Venulum is constantly being offered distressed sales from cash-strapped developers.”

Also, Mike King, Director of Venulum En-Primeur and Wine Investments Limited, commented on Venulum’s Wine fund, saying that although there were no new investments into the fund during the last quarter, it was a very successful period as the share value rose by over 6%.

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