Following drawdown of the second tranche and assuming BSRT converted all of the US$3 million owing to it (together with the other assumptions referred to above), BSRT would beneficially own and control an aggregate of 58,540,152 common shares of the Company, representing an aggregate beneficial ownership interest of approximately 39.16% of the issued and outstanding shares of the Company (post-issuance of the shares but excluding the shares issuable to the Finder) and an increase of 15.36% from prior to drawdown of the second tranche.
BSRT, Arnold House, St Julians Avenue, Guernsey, GY1 1WA, provided the second advance under the Investment Transaction for investment purposes.
The cut-offs for the TMT-A and TMT-C were calculated as the mean score plus I SD and for the BSRT, VFT and CVRT as the mean minus I SD in each of three educational subgroups of these healthy subjects: minimal education (3 years or less), elementary school education (4-6 years) and secondary school or high school education (7 years or more).
Education in years 0-3 4-6 7 or more Test (n = 12) (n = 138) (n = 126) BSRT 28.5 (6.3) 32.6 (7.6) 35.6 (8.4) Cut-off 22 25 27 TMT-A 109.3 (37.4) 82.0 (31.5) 63.0 (26.9) Cut-off 147 114 90 TMT-C 263.7 (62.1) 232.8 (72.0) 168.9 (79.0) Cut-off 300 300 248 VFT 15.3 (4.4) 16.3 (5.1) 19.4 (5.6) Cut-off 11 11 14 CVRT 14.2 (3.4) 16.3 (2.4) 17.4 (2.3) Cut-off 11 14 15 Table II.
The BSRT identified 23.6% (89 out of 377 subjects completing this test), the TMT-A identified 19.9% (79/396), the TMT-C identified 23.3% (87/376), the VFT identified 19.3% (76/393) and the CVRT identified 22.5% (89/396) of the subjects as having AACD.
The BSRT, a memory test, was the most sensitive in classifying subjects as having AACD.
ITC conceived the BSRT as an opportunity to analyse and reveal export potential in LDCs as a whole, focusing on those sectors of particular importance to least developed countries, and highlighting constraints as well as opportunities.
The research carried out for the BSRT put together, we think for the first time, profiles of 13 sectors that look particularly promising for LDCs.
The dialogue, initiated at the BSRT, will continue through regular updating of the BSRT web site.
Against this backdrop, it would perhaps be useful in a few years to revisit the issues presented at the BSRT, to gauge the evolution of successful LDC exporters and the realization of opportunities identified, to assess progress in development of policies, strategies and other export-enabling factors, and to analyse new opportunities and identify the new paths that should be mapped out for discussion in the continuing dialogue among the stakeholders dedicated to LDCs' export success.
The BSRT 'success stories' made it clear that LDCs have penetrated high-growth markets such as tourism and business services.
This is what the BSRT process sought to encourage with its more optimistic picture of LDC conditions than many people have appreciated.