HAMILTON, Bermuda, July 2, 2020 --- Veritas Group Limited (“Veritas” or the “Company”)(BSX:VERI.BH) announces the extension of the closing date in respect of the listing application for up to an additional 4,000,000 common shares by way of Private Placement at US$10.00 per share to September 30, 2020.

 

 

 

The Company was granted approval on January 9, 2020 by the listing committee of the Bermuda Stock Exchange (“BSX”) for listing 4,000,000 common shares subject of a private placement offering at a value of US$10.00 per share.

 

 

 

Due to the current events facing the world economy and the market unrest, the directors of the Company have requested the BSX for additional time to September 30, 2020 for it to complete the Private Placement offering. The BSX have accepted the Company’s request for the extension.

 

 

 

The directors of the Company have also requested the BSX for additional time in order to complete and file the annual audited financial statements for the year ended December 31, 2019. The BSX have accepted the Company’s request for the extension.

 

 

 

ABOUT VERITAS GROUP

 

 

 

Veritas is an exempted company limited by shares and listed on the BSX. The Company was incorporated with the objective of identifying and evaluating opportunities for the acquisition of interests in assets or businesses with a view to providing strategic planning, restructuring and development. The Company through its wholly owned subsidiary and strategic partners are gearing up for exponential growth by marketing its pump business in the US markets and from manufacture and installation of the Rapid Cellulose Bio-Refinery (RaCBio) containerized units in Southern Africa. These units convert bio-waste into green energy using advanced technology.

 

 

 

FORWARD-LOOKING STATEMENTS

 

 

 

Some of the statements in this press release may include, and the Company may make related oral forward-looking statements which reflect our current views with respect to future financial performance. Statements that include the words "should," "would," "expect," "estimates", "intend," "plan," "believe," "project," "target," "anticipate," "seek," "will," "deliver," and similar statements of a future or forward-looking nature identify forward-looking statements in this press release for purposes of the Bermuda or other securities regulatory authority.

 

 

 

All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or may be important factors that could cause the Company’s run-off performance and the timing and amount of special dividends to differ materially from those indicated in the forward-looking statements. These factors include, but are not limited to, greater frequency or severity of claims and loss activity, changes to our tax status, credit risk related to our broker counterparties, assessments for high risk or otherwise uninsured individuals, possible terrorism or the outbreak of war, a loss of key personnel, political conditions, changes in insurance regulation, operational risk, including the risk of fraud and errors and omissions, as well as technology breaches or failure, changes in accounting policies, our investment performance, the valuation of our invested assets, a breach of our investment guidelines, our dependence as a holding company upon dividends or distributions from our operating subsidiaries, the unavailability of capital in the future, developments in the world’s financial and capital markets, government intervention in the insurance and reinsurance industry, illiquidity in the credit markets, changes in general economic conditions and other factors described in our Annual Report.

 

 

 

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere. Any forward-looking statements made in this material are qualified by these cautionary statements, and there can be no assurance that the actual special dividends, results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company or its business or operations. Except as required by law, the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

 

 

 

 

 

FOR ADDITIONAL INFORMATION CONTACT:

 

 

 

Veritas Group Limited

 

Mudai Nakagawa

 

Chairman and CEO

 

(888)  828-8011 or (441) 703-3626 info@veritasgroupltd.com