Archive for May, 2017

Aura Minerals announced results of Annual General and Special Meeting of Shareholders

Wednesday, May 31st, 2017

Aura Minerals Inc., the mining company redomiciliated from Canada to the British Virgin Islands, announced the results of the votes held at the Annual General and Special Meeting of shareholders which took place in Tortola, BVI. The company announced the retirement of Patrick Mars from the Board of Directors of the company. He served as the Chairman of the Board from 2008 to 2016, and held positions on several Board committees, including Chairman of the Audit Committee.

Jim Bannantine, did not stand for re-election due to personal reasons, but this decision will not affect his shareholdings in Aura Minerals. Also, due to the personal reasons, another member of Board Juarez Saliba did not stand for re-election at the Meeting.

Company’s President and CEO said in his comments on the voting results: “On behalf of management and the Board of Directors, we express our sincere appreciation for Patrick’s and Jim’s many years of service and for the year of service from Juarez. It has been a rewarding experience working with all of them during my tenure at the Company and we wish them continued success.”

Hollysys Automation Technologies announced unaudited financial results for Q3 2017

Monday, May 15th, 2017

Hollysys Automation Technologies Ltd., the Chinese company domiciled in the British Virgin Islands and providing automation and control technologies and applications in China, announced its unaudited financial results for the first nine months and for the third quarter of fiscal year 2017, ended on March 31, 2017.

For the first nine months of the year, non-GAAP net income of the company was US$47.5 million, a decrease of 45.6% compared to the same period of the previous year. Total revenues were US$294.0 million, which is 25.9% less compared to the prior year. Non-GAAP gross margin was at 29.6% (37.2% in 2016); non-GAAP diluted earnings per share were US$0.79, a decrease of 45.5% compared to the same period of 2016. Net cash provided by operating activities was US$41.1 million for nine months of 2017.

For the third quarter of 2017, the BVI company reported non-GAAP income of US$13.7 million, which is 40.7% decrease compared to Q3 2016. Total revenues were US$91.3 million, 23.1% less than in the same period of the prior year. Non-GAAP gross margin was at 30.7% (31.7% for the comparable prior year period); non-GAAP diluted EPS were US$0.22, a decrease of 42.1% compared to the third quarter of 2016. Net cash used in operating activities was US$12.5 million for the quarter.