Seychellois encouraged to invest in the tuna industry sub-sector |04 July 2017
Members of the public and potential investors are informed that the CCCS (Central Common Cold Store) Share Offering prospectus has been reviewed, approved and released.
CCCS’s core objective is to create a “Central Common Cold Store” Logistics Platform for the tuna industrial fishing together with IPHS quay, to enable better logistics, efficient unloading, traceability, sorting, grading and storage services for Port Victoria which is by far the most significant tuna landing and transshipment destination in the Indian Ocean. The flagship project will be part of the infrastructure that will ensure that zone 14 on Ile du Port is transformed into the tuna value-addition industrial sub-sector that the government has planned it to become.
CCCS will also facilitate by-catch disposal and sorting as well as invest in the machinery to produce and provide ice for local fishermen. This added investment shall contribute heavily to the Seychelles Blue Economy with new tuna processing investment planned alongside CCCS. The platform and complementary roles of the ‘Ile du Port Handling services’ (IPHS: a 450 metre quay for tuna vessels) shall increase Port Victoria’s fishing hub efficiency.
For the first time, the Seychellois will be given the opportunity to significantly invest in the tuna industry sub-sector and in the proposed CCCS project Seychellois is destined to have 51% shares on offer.
Requests for the documentation can be made by sending an email or collect hard copies from the following address:
Constant Capital
1st Floor, F29 Eden Plaza, Eden Island, Mahé, Seychelles
Office: +248 434 5447
Email: sales@constant.sc
CCCS is receiving a high level of interests for the shares on offer. The CCCS steering committee will do its best to answer all questions or queries that may rise and is available to meet investors if needed.
The CCCS steering committee wishes to inform the public that allocation forms must be returned by email to sales@constant.sc or the offices of Constant Capital (F29 Eden Plaza, Eden Island, Mahé, Seychelles) by 17h00 Wednesday July 12, 2017.
CCCS objectives is to complete the below conditions precedent to effectively raise the required capital by July 14. Those conditions will be needed to be reached before any cash collection of the share issue and include the following:
- Lease agreement signed on land allocated to CCCS.
- Definitive approvals on independent & autonomous production of off-grid energy and water production through desalination.
- Binding commitment for 75% of the 12,600 tons storage of capacity for a minimum of 3 years.
- Signed rent agreement for processing and other services area.
- Signed term sheet for the bank loan with clearly identified closing conditions.
CCCS is finalising the user contracts and bank financing (points 3,4 & 5) and is working with Government on 1 & 2. Share allotment is envisaged to be carried out by the CCCS steering committee on July 13-14, 2017.
Following the allotment process successful applicants will be notified. The closing date for payment of shares allotted is provisionally scheduled to be on July 26 or any subsequent date that may be officially communicated in case of delay of completion of obtaining the conditions precedent to effectively kick-start the project.
The CCCS steering committee would like to invite individuals and entities to participate by expressing their respective interest via Constant Capital. The CCCS project is a unique opportunity for Seychellois people to own one of its local flagships of the Blue Economy.