Archive for April, 2013

BVI-registered blank check company announced results of shareholders meeting

Sunday, April 21st, 2013

Blue Wolf Mongolia Holdings Corp., a British Virgin Islands-registered company formed in 2011 for purposes of business combinations with one or more businesses, announced that its shareholders approved an amendment to its Memorandum and Articles of Association.

According to the results of BVI company’s shareholders meeting, which was held on April 15, 2013, the date by which Blue Wolf must consummate its initial business combination from April 20, 2013 to July 22, 2013, was extended. Also, the amendment removed the requirement that Blue Wolf acquire a target business having fair market value. Additionally, during the shareholders meeting the Investment Management Trust Agreement governing the Trust Account was amended.

Blue Wolf also announced the results of its tender offer to purchase up to 7,006,515 of its ordinary shares, which has expired on April 16, 2013. Total amount of 5,794,119 ordinary shares have been validly tendered and not properly withdrawn for a total purchase price of approximately $57.8 million. Such amount of shares represents approximately 58% of Blue Wolf’s issued and outstanding ordinary shares as of April 16, 2013.

Also, Lee Kraus, the Company’s Chairman and CEO commented on shareholders’ decision concerning definitive agreement with Li3 Energy, Inc., “We are pleased that shareholders granted us additional time to consummate our intended initial business combination with Li3 Energy, Inc. We will work diligently to provide as promptly as possible additional information about the business combination to our shareholders.”

LDK Solar sold remainder shares to Fulai Investments

Tuesday, April 9th, 2013

LDK Solar Co., one of the leading vertically integrated manufacturers of photovoltaic products, announced the sale of the remainder 12,000,000 newly issued ordinary shares to British Virgin Islands-registered Fulai Investments Limited. The shares are sold at a purchase price of US$1.28 per share, with an aggregate purchase price of US$15,360,000, pursuant to the share purchase agreement between the companies signed in January 2013, as amended by the parties.

Under the terms of the share purchase agreement, the BVI company has the right to designate two non-executive directors to the LDK Solar board, after the parties have consummated the transactions pursuant to the agreement. The net proceeds will be used for general corporate purposes in LDK Solar’s operations.

Thalassa’s subsidiary signed supply contract with Sevmorgeo

Monday, April 1st, 2013

WGP Energy Services, the subsidiary of BVI-registered International Business Company Thalassa Holdings Limited, has entered into a further agreement with Sevmorgeo S.A., which is a subsidiary of Joint Stock Company Sevmorgeo, focused on Russian geological sea surveys. This agreement is to supply node handling equipment and associated services as part of seismic data acquisition surveys conducted by Sevmorgeo in Equador.

The contract between WGP Energy Services and Sevmorgeo will increase total revenue to Thalassa relating to these surveys to approximately US$6.7 million. The BVI holding reported that work has started and the surveys in Ecuador were scheduled to last until June 15, 2013.