Archive for June, 2012

China-based company announces redomiciliation to British Virgin Islands

Wednesday, June 27th, 2012

China Information Technology, Inc., the company providing information and display technologies based in China, announced that its Board of Directors has approved redomestication of the company from the State of Nevada to the British Virgin Islands jurisdiction.

A wholly-owned subsidiary of the company, BVI-domiciled China Information Technology, Inc. (CNIT BVI) filed a registration statement on the redomestication transaction and the inclusion of a proposal to approve the transaction at the company’s next annual meeting of stockholders.

The Board of Directors of the company considers that its redomestication to the BVI will bring numerous benefits to the company. The transaction will make CNIT BVI’s shares more attractive to non-U.S. investors and so increase the number of shareholders. As a result of the redomestication, the company can (but not obliged to) dual-list its shares on the Hong Kong Stock Exchange. Also, the company is to be allowed to qualify as a “foreign private issuer” under the rules and regulations of the SEC, and thereby reduce its costs.

After the transaction, if approved by the company’s stockholders, the company is expected to continue to trade on the NASDAQ.

BVI-based Talon Metals appointed new CFO

Tuesday, June 19th, 2012

Talon Metals Corp., a British Virgin Islands-registered and TSX-listed company focused on iron projects in Brazil, announced the appointment of the new Chief Financial Officer who follows the outgoing CFO Mr. Manoel Carlos Cerqueira.

Mr. Vince Conte is a Chartered Accountant who was previously Vice President of Corporate Development and Financial Evaluation at Tau Capital Corp. Prior to this, he was a Senior Manager in the Financial Advisory Group with Deloitte & Touche LLP in Toronto.

At Deloitte, Mr. Conte advised mining companies and investors in the sphere of valuations, mergers & acquisitions, and financial due diligence in connection with mining projects. Additionally, he provided audit, accounting, internal control and consulting services.

Mr. Conte is a member of the Institute of Chartered Accountants of Ontario, the Chartered Financial Analyst Institute and the Canadian Institute of Chartered Business Valuators.

Nam Tai Electronics, Inc. updated information on new projects

Monday, June 11th, 2012

British Virgin Islands-registered company Nam Tai Electronics, Inc. announced the latest business development in two of its most significant new projects in the area of high-resolution LCD modules for tablets and smart-phones.

The sample of the tablet high-resolution LCM project based in Wuxi facility has been approved by the customer, after further improvement of key components’ quality. Nam Tai announced that the order book from the customer has been confirmed and its Wuxi facility has commenced mass production.

For the smart-phone high-resolution LCM project based in its Shenzhen facility, Nam Tai’s customer has continuously upgraded the product specifications, which resulted in further delay on the approval of final specifications. As a result, the BVI company continues to negotiate its quotation with the customer based on the upgraded specifications.

The specifications for the current sample model is currently expected to be finalized before the end of August 2012. If the result of the pilot-run meets the customer’s requirements, mass production is expected to commence in November 2012.

SCG Business Services Limited Announces Launch of the Hedge Fund Makeover

Friday, June 1st, 2012

BVI-registered hedge fund consulting firm, SCG Business Services Limited, announced the launch of a new service, the Hedge Fund Makeover. The new Hedge Fund Makeover redesigns fund’s offering documents into a powerful full-colour marketing document, which, by words of Douglas Fathers, Director at SCG Business Services, “will make an impression in the hands of any investor.” He said that this new service will bring a new level of professionalism to the hedge fund industry.

The BVI fund also announced the launch of a new website geared towards servicing the Hedge Fund industry with a focus on offshore and domestic fund formation, and the expansion of its services.

SCG Business Services positions itself as a company offering an innovative, holistic approach to hedge fund consultancy. It is a domestic and offshore fund consulting firm which specialises in assisting new and emerging fund managers in establishing their own hedge fund, forex fund, or master feeder structure.