Archive for January, 2015

BVI-based company announced name change

Thursday, January 29th, 2015

Atlas Mara Co-Nvest Limited, a British Virgin Islands-registered company listed on the main market of the London Stock Exchange, has changed its name to Atlas Mara Limited. The name change, announced on 27 January 2015, is effective from 26 January 2015. The ticker symbol of the BVI company ATMA has not changed.

Atlas Mara, formed by CEO and Founder of Atlas Merchant Capital LLC and the founder of Mara Group Holdings Limited, aims to create Sub-Saharan Africa’s premier financial institution.

Origin Agritech Limited announced unaudited annual financial results

Thursday, January 15th, 2015

BVI-registered Origin Agritech Limited reported unaudited financial results for the year ended September 30, 2014. In this year, the company was awarded three patents and applied for three additional patents in GM seed technologies; also, the company reported further operating efficiency improvements.

Total revenues of the company for the fiscal year ended September 30, 2014 were US$67.52 million – 14% less than in the year 2013, mainly because of lower sales for company’s rice seed business and a decrease in corn seed contract production. Operating expenses in the reported period were US$22.50 million – a 7% decrease as compared to fiscal year 2013. General and Administrative expenses decreased by 30% year over year.

Operating loss for the fiscal year ended September 30, 2014 was US$4.0 million; net loss was RMB9.53 million (US$1.55 million). The reported net loss per share was US$ (0.07).

As of September 30, 2014, Origin Agritech had approximately US$7.52 million in cash and cash equivalents.

Red Mountain reached agreement with BVI private investment company

Saturday, January 3rd, 2015

ASX-listed mining company Red Mountain Mining entered into an agreement with British Virgin Islands-registered private investment company Bluebird Merchant Ventures, to secure US$6.7 million for the development of its Batangas gold project located in the Philippines.

According to the agreement, the BVI company will initially invest US$1.2 m for Red Mountain, which will convert into a 15% stake in the project. Another US$5.5 million invested will allow Bluebird to have the stake of 50%.

By words of Red Mountain managing director Jon Dugdale, the agreement with Bluebird was the culmination of many months work and it was very pleasing to see it come together.