VEIL acquires stake in minerals firm

Vietnam Enterprise Investments Limited (VEIL) on October 2 acquired 750,000 common shares of Olympus Pacific Minerals Inc pursuant to its exercise of previously issued common share purchase warrants.
VEIL is an investment fund managed by Dragon Capital Group Limited and/or its affiliates, including Dragon Capital Management Limited and Enterprise Investment Management Limited. Dragon Capital holds on its own behalf and on behalf of one or more investment funds managed by Dragon Capital 10,358,500 common shares of Olympus. Such shares represent approximately 10.6% of the issued and outstanding shares of Olympus. Of such shares, Dragon Capital has ownership of 200,000 shares through its affiliate Dragon Capital Management Limited and exercises control or direction over 10,158,500 Shares owned by VEIL.
VEIL was issued on October 2, 2003, 1,500,000 units of Olympus at a price of US$0.30 a unit, where each unit consisted of one share and one-half of one common share purchase warrant. Each whole warrant was exercisable to purchase one additional share of Olympus for a period of two years at a price of US$0.40 a share until October 2, 2004 and thereafter at a price of US$0.50 a share. VEIL exercised, on October 2, 2004, 750,000 whole warrants to acquire 750,000 shares of Olympus at an exercise price of US$0.40 a whole warrant.

 

Category: ResourceAsia