Phoenician Corporation IV Limited - Admission to PLUS
The Directors of Phoenician Corporation IV Limited are pleased to announce the Company's listing on PLUS Markets in London.
The Company was incorporated with limited liability in The Commonwealth of the Bahamas on 25 May 2007 by Jason R. Futko, the sole voting shareholder and, after formation, the sole director, president and secretary. The company was originally incorporated with its nominal capital in United Kingdom Pounds Sterling, but on 12 December 2008 the Company changed its capital structure to the United States Dollar. At the same time it enlarged the capital structure so that the authorised capital is now $300,000,000.00, divided equally into two classes of shares, the non-voting Class A Shares, and the voting Class B Shares. The authorised capital of each share class is $150,000,000.00. Each share class is divided into 30,000,000,000 shares of 0.5 cents ($0.005) each.
On 15th December 2008, each of Lisa M. Lee, Spencer J. Wilson and Edwin S. Lee were appointed directors.. Also on the 15th December 2008, 27 seed investors subscribed the sum of $4,743,510.00 for 94,870,200 Class A Shares as described in paragraph 4 of Part IV of this document.
Two Class B Shares were issued on 25 May 2007 to Jason R. Futko and were then transferred to NIH Management Ltd. for good and valuable consideration on 12 February 2009.
Apart from the cash paid in by investors and the acquisition of four investments, the Company has not otherwise traded. So far, it has not actively managed its investments. Two substantial investments have been made, the first for $276,484.00, consisting of 792,500 common shares of PharmEng International Inc. (a company with an Asian joint venture partner listed on the TSX Venture Exchange in Canada) and the second in Phoenician Corporation V Ltd., a PLUS quoted company, for $1,325,000.00 (£683,797.00) and consisting of 11,396,619 Class A Shares. Two other approximately equal amount smaller investments have also been made in Pounds Sterling and Canadian Dollars totalling $112,600.00
Full news release is available here.