Archive for the ‘Investors’ 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.

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”.

BVI Government seeks new investors for hotel, after failure of deal with CA (BVI) Group Corp

Wednesday, May 1st, 2019

The VIP government is seeking new investors for redevelopment of the state-owned Prospect Reef Hotel, as the previous US$90 million deal between NDP administration and ICA (BVI) Group Corp signed in July 2017 has not materialized. Junior Tourism Minister Shereen Flax-Charles announced during the budget debate that prospective investors appeared at a recent tourism conference; also, by words of BVI Premier Fahie, many persons have interest about the hotel and continue to make contact with the BVI government.

Meanwhile, Third District Representative Julian Fraser urged the new government to pay the employees of the resort, as there are security guards who are not being paid. Also, he asked the government to give the facility some attention: “Prospect Reef has been a benefit to no one for the last 15 years. We cannot afford to lose those kinds of facilities. We are a tourism-oriented economy, and those are the things that we need. We don’t go back when it comes to development and efforts should be made in getting investors involved in bringing those things to life.”

The previous developers, ICA (BVI) Group Corp, had the plans to construct 150 rooms, condos/townhouses, a marina, conference centre, parking lots, a dolphin attraction, infinity pool, salt water pool, and villas. They received an extension from the NDP government, which expired on March 31, 2019.

BVI company resumed operations at San Andres gold mine

Thursday, February 14th, 2019

Aura Minerals Inc. made an announcement that it has resumed limited mining operations at its San Andres gold mine in Honduras. By words of the President and CEO of the BVI company, they have been closely working with local and national authorities and community to resolve the situation of the illegal occupation of their private lands by a small number of individuals. For the near-term, Aura will continue limited operations and expects to return mining activities to normal level progressively as the rule of law is enforced.

Aura’s President also said: “We are pleased to resume limited operations as the local economies were very detrimentally affected by the suspension. The suspension of operations negatively affects a number of stakeholders including our shareholders, close to a thousand employees and contractors and thousands of other Hondurans as the mine directly and indirectly, through taxes and a number of Aura initiatives, supports hospitals, schools and road maintenance among others.

Aura is focused on mining in complete terms – the so called 360° Mining. BVI company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico. The Company continues to explore options at Sao Francisco, and has two additional gold projects in Brazil and one gold project in Colombia.