SPPF / PARTI LEPEP GIFTING THE COUNTRY TO FOREIGNERS TO SECURE THEIR OWN SURVIVAL!
Norisco Disposed its interest in North Island Seychelles April 2010
Wilderness Holdings Ltd has been fronted by the Government of Seychelles as the proper owner of North Island since it took possession of the Island and vouched to build a premier world class island eco resort on the island.
However, in an abridged Circular to Wilderness Shareholders relating to the disposal of North Island, which took place in the 2nd quarter of fiscal year 2010, Norisco Holdings of S.A. reveals it had substantial shareholdings in North Island, Seychelles. Norsico also goes to great steps to reveal the nature of the transaction, which the Government of Seychelles has been silent on till now. No publication of the offer was made to a Seychellois.
One begs to ask who are the real shareholders behind Norisco, holding North Island for years unbeknownst to Seychellois. It remind me a little like referring to IDC as a parastatal, when it is an LTD company.
Wilderness Had Limited Shares In Norisco that held North Island
The circular states clearly to shareholders, that: ”Norisco has disposed of shares of its wholly owned subsidiary North Island Company. Wilderness held only 20% shares of Norisco. Government of Seychelles, never divulged this little detail to the Public.
Who Is Wilderness?
Wilderness is an investment holding vehicle…has been in operation for 26 years…and has developed a brand offering classic safaris. Wilderness has a policy of “building sustainable conservation economies through responsible tourism and shares the benefits of tourism with local communities and ensures conservation of these areas for future generations (end of quote).
The circular also reveals that Norisco is an investment company incorporated in Luxembourg and North Island, Seychelles is its sole investment. Without explanation, Norisco, who ever that is, not Wilderness, decided to dispose of North Island. Numerous heavy hitters in key positions of government in Seychelles, enjoy incorporating companies in Luxembourg as a pass time.
Groval Buys Out Norisco
On April 29th, 2010, an agreement for the sale of 100% of share capital of North Island Company and the assignment of the shareholder loans, was entered into between Groval and Norisco.
How Much For North Island, Seychelles
The total amount paid by Groval, to Norisco for the entire share capital of North Island Company was $US 47.5 Million. $ 6 Million was held in escrow for release on May 31,2011 to secure all of Vendors warranties.
Immovable Property Restriction Act
Under the laws of Seychelles, any transaction be it transfer of shares or interest in immovable property, by non Seychellois, must obtain Sanctions to successfully complete the transaction. Additionally Stamp Duty would have to be paid for the transfer. It is unclear at this time if either has taken place.
When Sanctions are not obtained, the transaction is deemed void.
Who Owned Norisco and Grovel
It remains unclear at this time, who owns Norisco or Grovel, the purported new owner of North Island, Seychelles.
Additionally which Seychellois if any, were involved in the transaction.
North Island Company is incorporated in the Seychelles, and entire share capital is held by Norisco. Now, why would they do that, if Wilderness was
Running North Island all these years?
More to come !
SESEL POU SESELWA!
May God Bless All Freedom Loving Seychellois!