OREANDA-NEWS. August 04, 2015. CIC Fund, the investment firm operating primarily in the mining and energy infrastructure sectors, is pleased to provide a general corporate update for the month of July 2015.

B Class Non Voting Shares Register (B Class)

The Company has appointed Computershare Investor Services (Jersey) Limited, transfer agent / registrar for all participants holdings and will form part of the register maintained by Computershare Investor Services (Jersey) Limited. 

Following the name change from CIC Capital Ltd to CIC Capital Fund Ltd new ISIN and CUSIP numbers have been requested for the B class shares.

The Company is a Canadian public issuer not listed on any exchange. The Company will be seeking a separate listing of each class of its shares.

The Company plans to issue 380 million B Class shares at 85 UK pence per share over the next five years with majority of subscribers China based. B Class shareholders do not have rights to attend shareholder meetings and are non-voting shares. There is no dilution on common shares.

New Subsidiary China Company

The Company is pleased to advise it has gained PRC Government approval to establish a Wholly Owned Foreign Enterprise Company (WOFE) whose business scope includes capital raising. The approved company name is Xinjin Investment (Beijing) Co. Ltd ("XinJin") and its share register will reflect 100% ownership by CIC Fund rather than by normal bare trust arrangements. XinJin principally will be used for China Fund operations.

Divestment of assets rights

The Company's holds a number or mineral and energy assets rights by which it will divest these assets to various vendors whom are client companies in the near future. Further announcement will also be made in the near future on the divestments. This includes Jin Ce one of China's leading potential gold mineral assets located near Asia's leading producing gold mine owned by Eldorado Gold.