Archive for the ‘BVI IBC Business News’ Category

Lenta Ltd starts redomiciliation from the British Virgin Islands to Cyprus

Friday, January 10th, 2020

Lenta Ltd., one of the largest retail chains in Russia, announced that it has started the process of redomiciliation from the British Virgin Islands into Cyprus. On 19 December 2019, further to obtaining shareholder approval of the redomiciliation at the company’s extraordinary general meeting on 22 October 2019, the company applied to the Department of Registrar of Companies and Official Receiver for continuance of its incorporation into Cyprus.

Redomiciliation will become effective when Lenta Ltd receives a certificate of temporary registration in Cyprus, and thereafter the company will change its registered office address to 6 Karaiskaki Street, City House, 3032 Limassol, Cyprus, and will change its form to the public limited liability company incorporated under the laws of Cyprus. The company will adopt new memorandum and articles of association, will change its name to Lenta PLC and will transfer its register of shareholders from the British Virgin Islands to Cyprus. The Company’s GDRs will continue to be admitted to trading on the London Stock Exchange and the Moscow Exchange and to the Official List of the UK Financial Conduct Authority.

Also, independently of the redomiciliation, the company is planning to change the depositary appointed in connection with the company’s global depositary receipt programme from Deutsche Bank Luxembourg S.A. to its affiliate Deutsche Bank Trust Company Americas. This change of depositary shall become effective as of the earlier of the effective Date and 28 February 2020.

AgeX Therapeutics and its BVI-registered investor Juvenescence Ltd. announced publication of paper on the engineering of universal cells

Saturday, November 2nd, 2019

Juvenescence Ltd., BVI-registered science company developing technologies to treat aging, and AgeX Therapeutics, Inc., a biotechnology company developing therapeutics for human aging and regeneration, announced the publication of a new paper in the scientific journal Regenerative Medicine. The published paper is on the strategies of engineering of allogeneic cells to be hypoimmunogenic (universal), so as not to produce an immune response. Also, the paper presents previously unpublished observation in vivo on allogeneic human stem cells (hPSCs).

The leading author of the paper is Dr. Nafees Malik, Chief Operating Officer at AgeX and Head of Cell & Gene Therapy at Juvenescence, which is a major investor in AgeX. His co-authors on the paper are Gregory Bailey, MD, Chairman of the Board of Directors of AgeX and CEO of Juvenescence; Annalisa Jenkins, MBBS, FRCP, who serves on the Board of Directors of AgeX; and Jim Mellon, Chairman of Juvenescence.

Dr Malik said in his comments on the publication: “This is a huge area of focus for us at AgeX, via our UniverCyte technology platform. In support of our own research and as a service to the overall field, we decided to put together this paper, analyzing all the leading strategies to engineer universal cells and encapsulating them in one paper.”

Orca Exploration published operational update on its activities

Thursday, October 17th, 2019

BVI-registered Orca Exploration Group Inc. published an operational update on its current activities in Tanzania. According to the released information, company’s additional gas sales increased in August 2019. In September, Orca Exploration signed agreement with the Tanzania Petroleum Development Corporation to increase the maximum daily quantity of Additional Gas that can be supplied under Orca’s Gas Sales Agreement.

The BVI company is actively seeking for new sales opportunities in Tanzania, assisting the government to evaluate the potential to supply large volumes of natural gas to partners in East Africa. Also, Orca is discussing the expansion of its existing compressed natural gas business with commercial fuel distributors and other potential customers. Also, Orca is close to completion of the front-end engineering and design for compression for the Songas facility.

CEO of Orca Exploration Nigel Friend said in his comments: “The Government of Tanzania is actively looking at ways to utilise its significant indigenous natural gas resources to fuel industrial and economic growth for the benefit of the country and the wider East African region. We are encouraged by this increased activity and, in conjunction with our partner, TPDC, are evaluating the options to increase production from the Songo Songo field to ensure that natural gas is available to support the Government’s objectives in a timely manner”.

Origin entered into collaboration agreement with INOVA, Brazil

Thursday, September 19th, 2019

BVI-registered Origin Agritech Ltd. entered into a collaboration agreement with Inova Genética Ltda (INOVA), a member of the Wehrmann Group, which is an active participant of the seed industry and a leading vegetable production company in Brazil. The agreement between the agriculture technology company and INOVA provides for co-operation in field testing of hybrids of both companies in each other’s geographic regions.

INOVA will also co-operate with the BVI company to evaluate corn seed biotechnology traits for application in South American markets. Origin and INOVA will explore commercial opportunities between the companies in corn seed breeding, production and distribution in South America. INOVA is focused on the plant breeding business and is headquartered in Cristalina-GO, Brazil.