BVI Company News

British Virgin Islands-registered Hecta Media reported on October 30 about its plans to float on AIM. It is expected that dealings in the company’s shares will start on November 14, 2007. The company whose purpose is to make broadly distributed investments in vertically targeted, branded domains and niche content web sites, will now focus its efforts on active investment in websites and domains established in the U.K., continental Europe, and the United States.

The BVI company will have a share capital of 165,391,456 Ordinary Shares, with no nominal value yet assigned. It is anticipated that GBP4,673,158 mln will be raised on or immediately before the company will be admitted to the market, and that the company’s market capitalisation will be GBP6,6 mln.

Hecta Media’s general business model is targeted text link internet advertising, when contextually relevant text ads are placed on websites and turned into money using automated programs from Google, Yahoo and Microsoft. The company’s nominated adviser and broker is Beaumont Cornish.

A BVI-incorporated American Leisure Group Ltd., which is the owner of land near Walt Disney World, has sold 62.5 million shares, or a 37% stake, to raise 75,000,000 GBP or $151 million in an initial public offering on London’s Alternative Investment Market. Of that amount, U.S. $44,000,000 is used for the development of the Sonesta Orlando Resort at Tierra del Sol, Florida, which is American Leisure’s flagship resort property near Walt Disney World.

The resort is currently under construction. When completed, it will be a 121-acre vacation home resort community. The company has already sold 700 vacation homes it is building on this territory, with sale commitments worth more than $300 million.

The affiliation with Sonesta is an example of American Leisure Group’s strategy of ensuring that the management of the resort will be of high quality.

Qiao Xing Universal Telephone Inc., one of major manufacturers and developers of telecommunications products in China, announced on April 19 that its major subsidiary, Qiao Xing Mobile Communication Co., Ltd. has publicly filed with the U.S. Securities and Exchange Commission a registration statement on Form F-1, for a proposed initial public offering of ordinary shares on the New York Stock Exchange (“NYSE”). Qiao Xing Mobile Communication Co., Ltd., whose remaining 20% equity interest was acquired by Qiao Xing Universal Telephone Inc. in November 2006, is a company incorporated in the British Virgin Islands and owning a 93.4% equity interest in CEC Telecom, Co., Ltd.

The ordinary shares may not be sold and any offers to buy may not be accepted, because the registration statement on Form F-1 has not yet become effective. The proposed offering will consist of a primary offering by the Company and a secondary offering by the selling shareholders. The proposed price range per ordinary share will range from USD11.00 to USD 13.00.