Archive for the ‘BVI IBC Business News’ Category

BVI company appointed new Chief Financial Officer

Tuesday, November 20th, 2018

Lenta Ltd, BVI-registered company owning one of the largest retail chains in Russia, announced the appointment of the new Chief Financial Officer, upon completion of the notice period but no later than 31 March 2019. Rud Pedersen, who is currently CFO of Carlsberg Eastern Europe, will join Lenta to replace Jago Lemmens who resigned for family reasons.

Rud graduated from Aarhus School of Business in Denmark with the Master of Science degree in International Business Administration & Commercial Law and has an EMBA from London Business School (UK). Over the last 25 years he held a number of senior management positions in a diverse range of businesses, including FMCG, fashion and apparel retail, pharma. He has had experience in regional and group level roles, including Cadbury (Russia), Astrazeneca (Belgium), Levi Strauss (Belgium) and IC Group (Denmark). He started his career with Deloitte.

Harneys BVI Office top ranked by IFLR1000

Wednesday, November 14th, 2018

British Virgin Islands office of Harneys law firm received a top tier ranking from IFLR1000 for both its Corporate and Investment Funds practices, thus remaining the leader in the law services of the jurisdiction.

BVI Managing Partner Colin Riegels has said in his comments: “We are delighted to retain our top tier ranking which is testament to our unmatched knowledge and experience in the BVI. Our clients continue to choose us for our attentive and personal service, the excellence of our work, and for our experience and leadership in the BVI”.

By words of clients, the BVI practice is “very user-friendly and practical in the nature of their advice. All attorneys are responsive and knowledgeable in their respective fields.”

Harneys is the largest and longest-established law firm in the British Virgin Islands, and the only firm with a dedicated investment funds team. It also provides fiduciary services to funds clients through its associated corporate and private wealth services business, Harneys Fiduciary.

Luxoft Holding launches new platform together with Vantage Power

Friday, September 21st, 2018

Luxoft Holding, Inc., global IT service provider having its registered office in the British Virgin Islands, and Vantage Power who designs and manufactures technologies for connection of powertrains in heavy-duty vehicles, launch VPVision, a next-generation fleet performance and diagnostics platform designed to improve performance and reliability of hybrid and electric heavy-duty vehicles.

The VPVision platform is already successfully tested on hybrid London buses, using Amazon Web Sevices (AWS) to help reduce vehicle emissions. It combines in-depth technical knowledge of hybrid and electric powertrain components, including lithium-ion batteries, with cloud based telemetry software. By using AWS Luxoft designed software set that includes remote fault diagnostics, performance optimization, prognostics, geo-fencing and over-the-air software updates.

Talon Metals announced loan extension with RCF

Friday, June 29th, 2018

Talon Metals Corp., a TSX-listed company focused on the exploration and development of the Tamarack Nickel-Copper-PGE Project in Minnesota, USA, entered into an agreement with Resource Capital Fund VI L.P for the extension of the maturity date of the US$16mln convertible loan facility with the BVI company to April 2, 2019. All the other terms and conditions of the Convertible Loan remain the same. Also, Resource Capital Fund has agreed to extend the maturity date of US$1mln unsecured promissory note to April 2, 2019. Among other things, the time extension will give time for the BVI company to consider all the options in respect of the convertible loan.

Talon Metals is seeking the “minority approval” of the loan extension; it is subject to shareholder approval and the approval of the Toronto Stock Exchange. The shareholders meeting to consider the loan extension and other matters is scheduled for July 26, 2018.