Archive for the ‘BVI Company Mergers & Acquisitions’ Category

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LSE AIM listed Yangtze China Investment invests 5 million USD in BVI holding company

Thursday, July 10th, 2008

According to Yangtze China Investment Ltd., it has invested USD 5 million in Aesthetic International Holdings Group (BVI) Ltd. in return for a loan convertible into 25% of the share capital of Aesthetic. Aesthetic is the British Virgin Islands holding company for a Beijing-based beauty spa franchise group.

The 15% convertible loan note, which is due in 2011, on a fully diluted basis represents the 25% stake.

A BVI-incorporated company Aesthetic International Holdings Group Ltd. has been set up with a view to facilitate the investment by Yangtze China Investment Ltd. and the subsequent corporate restructuring of the group. The restructuring is to be be implemented after the completion. The group’s restructuring will be completed by Aesthetic with the help of funds invested. In accordance woth Yangtze, the invested funds will also enable the group to raise its profile by means of increased marketing and promotion of brands and products, as well as to expand the research and development team and establish beauty training and franchise management centres.

It should also be noted that this is the 1st investment of Yangtze following its admission to AIM.

Posted in BVI Company Mergers & Acquisitions, BVI IBC Business News | No Comments »

Transmeridian Exploration establishes milestones for its acquisition by the BVI-registered subsidiary

Monday, March 31st, 2008

Last week, oil and natural gas company Transmeridian Exploration Inc. announced that its board of directors has made some arrangements to complete the proposed acquisition of the company by its BVI-registered subsidiary Trans Meridian International, Inc. (TMI).

Some months ago, Transmeridian Exploration Inc. entered into a definitive merger agreement with TMI pursuant to which the BVI company will make a tender offer of $3 per share, to purchase all of company’s outstanding shares of common stock. One of the milestones towards the completion of the proposed financing arrangements relates to detailed information that was required to be provided by Transmeridian Exploration Inc. until March 21, 2008. In connection to this, Transmeridian’s directors board informed its BVI-registered subsidiary that, if it is not satisfied with such information, or if the financing condition contained in the definitive merger agreement between the company and TMI has not been satisified by March 31, 2008, the company will terminate the definitive merger agreement.

Transmeridian is continuing discussions on the potential acquisition of the company with another interested party, but if it does not enter into agreement with another company, its stockholders may receive less than the $3.00 per share contained in the current agreement with TMI.

Posted in BVI Company Mergers & Acquisitions, Investors' News | No Comments »

BVI-based China Cablecom Ltd. appoints new Chief Financial Officer and President

Wednesday, February 6th, 2008

A special purpose acquisition company Jaguar Acquisition Corp. announced that BVI-registered China Cablecom Ltd., the consolidated cable network operator and acquirer which signed an agreement and plan of merger with Jaguar in October 2007, has named a new Chief Financial Officer and President. Colin Sung, which was appointed to this post, has resigned from China Cablecom’s Board of Directors, previously he served as Chief Financial Officer for Linktone Ltd., a  well-known provider of wireless interactive entertainment services to consumers and of advertising services through new and traditional media channels in China.

Also, prior to this Mr.Sung served as Corporate Controller of UTi, United States, Inc., a subsidiary of UTi Worldwide Inc., BVI-based global integrated logistics corporation. Additionally, he was Vice President of Finance and Corporate Controller at USF Worldwide, Inc., and Vice President and Corporate Controller of the U.S. operations of Panalpina, Inc., a freight forwarding and logistics company.

The new CFO and President will report directly to Mr. Clive Ng,  who is the founder and Executive Chairman of the BVI company.

Posted in BVI Company management, BVI Company Mergers & Acquisitions, BVI IBC Business News | No Comments »

Dynasty Gaming signs Letter of Intent to acquire all shares in BVI- and China-based companies

Tuesday, November 6th, 2007

The Canadian company Dynasty Gaming Inc. has just  announced the details of its intention to acquire all of the issued and outstanding shares of two companies. Both companies, one of which, Junnet Omnimedia Inc., is based in the British Virgin Islands, and the second one is based in Beijing, China, are controlled by Dr. Wilson Cho, resident of Hong Kong and Dr. Dominic Chan, resident of Los Angeles, USA.

The Letter of Intent was signed on 16 October 2007, under its terms Dynasty proposes to acquire all the shares of these two companies from their current owners, in exchange for the issue of  320 mln new Dynasty Gaming shares, based on a price of Cdn $0.25 per share. This reverse takeover (RTO) transaction is based on a valuation of US $50 mln for the BVI company, and US $30 mln for the Chinese company.

Before closing the transaction, Dynasty must first complete a financing for a minimum of US $30 mln, based on a value of $0.25 per Dynasty share. Upon completion of all conditions under this proposed transaction, the issued capital of the Canadian corporation will increase from over 92.3 mln common shares to over 532.3 mln common shares, excluding any additional shares that may result from the exercise of 24.7 million options and warrants.

The BVI-based Junnet is a distributor of online prepaid cards in China, and a marketer of digital products such as software, music, etc. The Chinese company is engaged in the developing and technical support of these types of digital products throughout China. Dynasty Gaming’s business activities concerning online entertainment distribution and game software development will focus mainly on China.

Posted in BVI Companies Acquired & Sold, BVI Company Mergers & Acquisitions, Share Exchange agreements | No Comments »

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