Archive for May, 2010

Play LA Inc. enters into advertising agreement

Tuesday, May 25th, 2010

BVI-registered Play LA, Inc., which is an international online publishing company that owns and operates a global network of multi-language websites, entered into an advertising agreement with William Hill, one of UK’s most recognized bookmakers.

According to company’s announcement, the agreement, valued at more than £128,500, provides extensive branding and advertisement placements for William Hill across company’s websites for English, German and Spanish sports fans, throughout 2010.

As part of the agreement, Play LA Inc. is required to send William Hill a minimum number of new players during the term of the agreement. William Hill is one of twenty-five bookmakers promoted through the websites of the BVI company.

BVI company’s CEO David Hallonquist stated in his comments that the value of this advertising agreement is the largest one for the company. They will continue to earn commissions on the traffic they send to William Hill.

BVI-registered holding announced pricing of public offering of ADS

Tuesday, May 18th, 2010
British Virgin Islands-registered and China-based Kingtone Wirelessinfo Solution Holding Ltd. (http://finance.yahoo.com/q?s=KONE), a company developing wireless software and solutions for businesses and government agencies to more efficiently manage their operations, announced the pricing of its public offering of 4,000,000 American Depositary Shares (ADS), representing 4,000,000 ordinary shares of the company. The ADS are offered to the public at $4.00 per share.
The subscribers have a 30-day option to purchase up to an additional 600,000 shares from the company solely to cover over-allotments.
The closing of the public offering is expected to be on May 19, 2010. The BVI company expects to use net proceeds from the offering for product development, to expand research and development,  for customer relations management systems as well as for working capital purposes.
Roth Capital Partners, LLC (http://www.roth.com/) is the sole book-running manager and Maxim Group LLC (http://www.maximgrp.com/) is the co-manager for the public offering of the company.

British Virgin Islands-registered and China-based Kingtone Wirelessinfo Solution Holding Ltd., a company developing wireless software and solutions for businesses and government agencies to more efficiently manage their operations, announced the pricing of its public offering of 4,000,000 American Depositary Shares (ADS), representing 4,000,000 ordinary shares of the company. The ADS are offered to the public at $4.00 per share.

The subscribers have a 30-day option to purchase up to an additional 600,000 shares from the company solely to cover over-allotments.

The closing of the public offering is expected to be on May 19, 2010. The BVI company expects to use net proceeds from the offering for product development, to expand research and development,  for customer relations management systems as well as for working capital purposes.

Roth Capital Partners, LLC is the sole book-running manager and Maxim Group LLC is the co-manager for the public offering of the company.

China Gengsheng announced another two fracture proppant supply contracts

Monday, May 10th, 2010

In the end of April, China GengSheng Minerals, Inc., which conducts its business through its subsidiary Gengsheng International Corporation (BVI), announced that it has won two fracture proppant supply contracts, the combined value of which is approximately US$3.6 mln. The contracts between GengSheng’s subsidiary, Zhengzhou Duesail Fracture Proppant Co, Ltd and AMSAT International, a U.S. importer with distribution channels in the United States were signed on April 14, 2010 and April 24, 2010, respectively.

By terms of the contracts, Gengsheng already shipped 1,008 metric tons of fracture proppant on or before April 23, and another 8,028 metric tons will be shipped on or before September 1, 2010.

Mr. Shunqing Zhang, Chairman and CEO of GengSheng said in his comments that the active export operation of company’s fracture proppant products will generate a stable revenue for the company. He added that the second production line ensures the capacity of the company to meet the increased demand of the international market.

CapitaMalls Asia Limited establishes BVI-registered subsidiary

Monday, May 3rd, 2010

On April 26, CapitaMalls Asia Limited (CMA), a Singapore-based company operating as a shopping mall owner, developer and manager in Asia, announced the establishment of the wholly-owned subsidiary incorporated in the British Virgin Islands. The new BVI subsidiary is named Esposito Investments Limited, its principal activity will be investment holding. Issued and Paid-up share capital of Esposito Investments Limited is $1 comprising 1 share with a par value of US$1.

It was announced by CMA that this transaction is not expected to have any material impact on the consolidated assets and earnings per share for the financial year ending 31 December 2010.

As of June 30, 2009, CapitaMalls Asia Limited owned a portfolio of 86 retail properties located in 48 cities in five Asian countries – Singapore, China, India, Japan and Malaysia. The company was incorporated in 2004 as CapitaLand Retail Limited and changed its name to CapitaMalls Asia Limited on October 30, 2009.