Newly organized BVI company announced US$50 million public offering

June 19th, 2017

Bison Capital Acquisition (BCACU), a newly organized blank check company registered in the British Virgin Islands and headquartered in China, announced its plans to raise US$50 million in an initial public offering (IPO) on the week starting with June 19th. Bison Capital will issue 5,000,000 shares at the price of US$10.00 per share. Market capitalization of the company is US$53.8 million.

Bison Capital Acquisition was incorporated in the BVI as a business company with limited liability, and has the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, or engaging in other similar business combinations with one or more businesses. The company is planning to focus on businesses operating in Asia and North America, however it is not limited to particular industry or area. It was established in 2017 and has 3 employees.

Luxoft will showcase new financial services solutions

June 7th, 2017

Luxoft Holding, Inc will demonstrate its Pega integration capabilities at PegaWorld 2017, Pegasystems’ annual global conference bringing together business and technical visionaries from the world’s leading companies, focused on automotive and financial services.

The BVI holding company plans to demonstrate Pega® Robotic Process Automation (RPA) with Pega® KYC, which integrates data sources from a provider for financial institutions, to onboard new customers taking into account global regulatory requirements such as Anti-Money Laundering. Financial institutions can further automate many of the high-volume, low-complexity repetitive manual tasks that require considerable time and money.

The Head of Client Lifecycle Management & KYC, Pegasystems said in his comments: “Financial institutions face increased regulatory scrutiny in their global AML programs and expanding regulations across jurisdictions, while at the same time find themselves under pressure to stay competitive, cut costs, and increase efficiency and transparency… Pega KYC is the only application in the market unified with robotics automation capabilities, which allows banks to rapidly meet remediation and regulatory requirements while driving faster onboarding and mitigating risk.”

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

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

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.