Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Alfa, I did start going down that train of thought but it then derailed due lack of sleep!
Feels like it is the movement or reorganisation of existing shares, rather than significant buying. I think the shareholder register on the BMN website also shows a “Mr and Mrs Borromeo”, where it was previously just “Jose Roy Hernandez Borromeo”; so that could be reflective of a family trust/fund tidy-up.
Hope the cold is better - for me the best treatment is a couple of a well made hot toddys!
Buzzzz - briliiant sleuthing.
If my numbers are correct then Splendid Victory could have had held 20.7M in their own right since October 2015 - as that number is lower than the lowest holding shown on the BMN shareholders list.
In addition to that they apparently had 18% of MWI - I cannot see how many shares that was as the Lemur bidders statement doesn't seem to ever finish downloading.
So there is perhaps the possibility that Splendid Victory simply reorganised and consolidated their shareholdings into one easy package and then sold them to, or was renamed as, Golden Summit.
This would explain the rather minimal buying pressure which was observed pre the 19th October. There is still no information as to the origin of this weeks 15M share trade
Thomas Chan Ho Lan is/was a shareholder in Splendid Vicotry Group, as is/was a Mr Jose Roy Hernandez Borromeo, long standing major Bushveld Minerals shareholder - https://offshoreleaks.icij.org/nodes/10140213
In the past, Splendid Victory Group was listed as a major shareholder in Bushveld Minerals - http://www.bushveldminerals.com/wp-content/uploads/2017/08/201603160356510.pdf
The following is from the BMN’S Lemur Resources bidder’s statement - http://member.afraccess.com/media?id=CMN://6A640524&filename=20130702/LMR_01421865.pdf
Acacia is a private investment company, which is 100% owned by Teston Limited which is an investment company for Mr Joseroy Borromeo. Mr Borromeo owns 100% of Teston Investements Limited. These Bushveld Shares are beneficially held for Acacia (with Mr Borromeo as the ultimate beneficiary) by Oak Nominees Limited (Oak Nominees). Oak Nominees is the registered holder of these Bushveld Shares.
MWI is a private investment company controlled by Acacia by virtue of its 58% shareholding in MWI. The remaining shares are held by
a. Splendid Victory Group: 18%
b. Dr.Percy Nils Barnevik: 9%
c. Spruance Investments Limited: 1%
d. Msuna Mabu Company Limited: 14%
These Bushveld Shares are beneficially held for MWI by Oak Nominees (with Mr Borromeo as the ultimate beneficiary). Oak Nominees is the registered holder of these Bushveld Shares.
Oak Nominees is a nominee company only which holds the Bushveld Shares on trust for the relevant parties.
I don’t think we know much about Mr Borromeo but seems he and Golden Summt have some ties.
Further to my last post. If the link below works, it's the 2014 article that referenced Golden Summit International.
http://www.theedgemarkets.com/article/vallianz-places-out-400-million-new-shares-013545-each-raise-522-mil
Further titbit.....
RNS states investor is Golden Summit International Ltd (British Virgin Islands).
Daisan found link to Thomas Chan Managing Director of Golden Summit Capital (based in Singapore).
In June 2014 Golden Summit International invested in Vallianz Holdings. I can't link to article but it stated "Golden Summit International is a family office incorporated in British Virgin Islands in July 2009. It handles a number of family assets in Asia. The ultimate beneficial owner is Thomas Chan Ho Lam. Chan is a full-time private investor".
From their website: What can they have in mind????
Fund Raising and Mergers & Acquistions
We facilitate the process for our clients related to fund raising, mergers, takeovers, buy-side, sell-side and transaction structuring.
Our services encompass the entire transaction process, from strategic planning and deal execution through to post-merger integration.
We have a network of relationships and alliances which gives us the ability to find targets and buyers or investors.
Thanks for the info Daisan, good sleuthing.
Don't know if it's just me but does anyone think they use same website developer as Bushveld Minerals?
The typeface and colours of Golden Summit Capital's web page feels familiar.
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=https://www.bushveldminerals.com/&ved=2ahUKEwiwq4-ZkrbeAhUlIcAKHRK5AB4QFjAAegQIARAB&usg=AOvVaw31SEowzUphsrJZLB_TxM7D
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://www.goldensummitcapital.com.sg/&ved=2ahUKEwj96N6qlrbeAhWjHsAKHZSCA04QFjAAegQIBBAB&usg=AOvVaw3nVcTFUxVsb4oJOgRvuqXV
Can't find much either....they are mentioned on Bloomberg.com but just name and address.
No key executives recorded.
Golden Summit International Ltd
2nd Floor
Vanterpool Plaza
Wickhams Cay I
Road Town, VG1110
British Virgin Islands
Nice thanks daisan, saw that on golden summit capital but couldn’t reconcile with golden summit international. Chan certainly looks no muppet, Booth, Stanford and goldman’s, certainly no amateur.
Whilst Golden Summit Capital is not necessarily the same entity as Golden Summit International, Thomas Chan is given as the contact for Golden Summit International in this document:
https://www.lawinsider.com/contracts/1pN9HtOWxhBfUIuw2GImqT/m17-entertainment-ltd/1731946/2018-05-25#the-parties-as-set-out-in-schedule-2
Which is all I can find for now.
Great find Daisan, seems a far better holder than FI.
Sticky shares,is what we want.
Thomas Chan is Founder and Managing Director of Golden Summit Capital, a private investment firm based in Singapore. He has more than 20 years of experience in Investment Banking and Investment Management. Prior to founding Golden Summit Capital in 2010, Mr. Chan was a Managing Director at Goldman Sachs and had served in several senior roles within the firm.
In addition to public and private capital market investments, Golden Summit Capital has been an active participant in the venture capital arena, focusing primarily in the seed to early growth stage. The firm also manages a diverse real estate portfolio in Singapore and other parts of Asia and Europe.
Mr. Chan holds a Master in Business Administration from the University of Chicago Booth School of Business and a Bachelor of Arts in Economics from Stanford University.
Anyone have a clue who they are? Can’t find any info on them...