WEC 0.00% 4.8¢ white energy company limited

new jv company registered in uk to fund mcc?

  1. 319 Posts.
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    While perusing the Annual Report to shareholders from 17/10/2013 I noticed on p.8 that the Mountainside Coal Company (MCC) project is proposed to be operated fully by "River Energy JV UK Ltd" (note the "UK" in the name). While there has been an existing JV company called "River Energy JV Ltd" formed with Black River Assset Management (owning 49%) for potential South African projects and incorporated under the laws of Mauritius, I wondered what this new proposed company carrying "UK" in its name is about.

    A quick search on the British Company Register (http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo) revealed the following information:

    Name & Registered Office:
    RIVER ENERGY JV UK LIMITED
    11 OLD JEWRY
    7TH FLOOR
    LONDON
    UNITED KINGDOM
    EC2R 8DU
    Company No. 08701975

    Status: Active
    Date of Incorporation: 23/09/2013

    Country of Origin: United Kingdom
    Company Type: Private Limited Company
    Nature of Business (SIC): None Supplied


    After ordering detailed company information and some googling I also found out that...

    1) River Energy JV UK Ltd has appointed Brian Flannery and two gentlemen called Mr Daniel Marc Richard Jaffe (British, born in 1975) and Mr Bernardus van de Laar (British, born 1984) as directors. The latter two seem to have been involved in the real estate and engineering industry.

    2) that there are 100 shares in River Energy JV UK Ltd with a face value of £1 each, which are currently all held by Binderless Coal Briquetting Company Pty LTD of Sydney, a 100% subsidiary of WEC which also holds 51% of shares in the Mauritian JV company.

    3) that River Energy JV UK Ltd was founded with assistance from Intertrust (UK) Limited (http://www.intertrust.com/), a corporate services provider which resides at the same address and which has taken the role as company secretary.

    While all the shares in this recently founded JV company are still held by WEC its name suggests that it will be partly owned by Black River Asset Management as it is the case for the Mauritian JV company.
    So is WEC again partnering with Black River to fund the planned BCB plant for coal fines briquetting at the recently acquired Mountainside mines in Kentucky?
 
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