Business in brief

C&W Communications to bring more Caribbean Olympic content  

C&W Communications, operators of Flow and LIME brands in the Caribbean, has pledged to bring more Caribbean Olympic content to regional fans. 

With just under a year to go before the 2016 Summer Olympic Games in Rio de Janeiro, Brazil, C&W, the exclusive telecommunications partner to the Caribbean Association of National Olympic Committees, has also committed to support Caribbean athletes as they pursue their Olympic dreams. 

Last week, Flow Jamaica announced a major partnership with the Jamaica Athletics Administrative Association in a two-year deal valued at J$28M (US$239,000) to sponsor its national championships and teams. In the coming weeks, other C&W markets across the region are expected to announce their support of local athletes in preparation for Rio 2016. 

The company has also announced its intention to bring multi-platform streams of exclusive, locally focused content featuring Caribbean athletes at the Games. 

“We are proud to bring a more enriched Olympic experience to the Caribbean,” said John Reid, president of the C&W Consumer Group. 

Ogier Cayman and BVI advise on cash offer for Promethean World plc  

Ogier has acted for VSA Capital Ltd. in its role as financial adviser to Digital Train Ltd., a company incorporated in the BVI, and its group company parent, NetDragon Websoft Inc., in connection with the announcement of a £84.1 million (US$131 million) recommended cash offer under rule 2.7 of the City Code on Takeover and Mergers for the entire issued (and to be issued) share capital of Promethean World plc, a company listed on the London Stock Exchange. 

Promethean World plc is one of the market leaders in the global education technology market with significant sales in North America and Western Europe of front-of-class interactive displays. NetDragon Websoft Inc. is a company incorporated in the Cayman Islands whose shares are listed on the Hong Kong Stock Exchange and is an online game and mobile Internet platform developer and operator in China. In recent years, NetDragon has also become a major player in the online and mobile education. NetDragon expects to support and accelerate Promethean’s hardware and software rollout in its current markets of operation, as well as additional markets across the globe. 

Ogier worked with Squire Patton Boggs, U.K. counsel to VSA Capital Ltd. partner Angus Davison and senior associate Mark Santangeli provided Cayman Islands law advice on the offer with partner Simon Dinning and senior associate Wendy Walker advising on BVI law. 

Ogier Cayman advises on financing of Golden Star Resources  

Ogier has acted for Golden Star Resources in connection with its $150 million financing obtained from Royal Gold. 

The financing consists of a $20 million term loan from Royal Gold, Inc. and a $130 million stream transaction with Royal Gold, Inc.’s wholly-owned subsidiary, RGLD Gold AG. 

Golden Star Resources Ltd. is an international gold mining and exploration company in Ghana, West Africa. The financing will facilitate the development of the company’s Wassa and Prestea underground mines there. 

Ogier worked with Fasken Martineau, Canadian counsel to Golden Star Resources. Managing associate James Heinicke, partner Bradley Kruger and associate Ridhiima Kapoor provided Cayman Islands advice on the financing. 

Ogier Partner Angus Davison
Ogier Partner Angus Davison

Ogier Partner Bradley Kruger

Ogier Partner Bradley Kruger