April 17, 2014

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LightPath Technologies announces Private Placement to Pudong Science and Technology (Cayman) Co. Ltd.

0ORLANDO, FL–(Marketwired – Apr 16, 2014) – LightPath Technologies, Inc. (NASDAQ: LPTH) (“LightPath,” the “Company” or “we”), a leading vertically integrated global manufacturer, distributor and integrator of proprietary optical components and high-level assemblies, announced today that it executed a Securities Purchase Agreement (the “SPA”) with Pudong Science & Technology (Cayman) Co., Ltd. (“Pudong”) for a private placement (the “Offering”) of the Company’s Class A Common Stock (the “Common Stock”). LightPath will sell to Pudong a number of shares to be determined that will result in Pudong beneficially owning 19.9% of the Company’s outstanding shares of Common Stock immediately after issuance of the shares of Company Stock pursuant to the SPA. Currently, Pudong is the beneficial owner of 9.37% of the Company’s outstanding shares of Common Stock, as disclosed in a Schedule 13G filed with the Securities and Exchange Commission in February 2014.

The initial per share purchase price is $1.62, subject to adjustment at the closing of the sale pursuant to the terms of the SPA. As adjusted, the final per share purchase price may be higher or lower than the initial per share purchase price, but in no event shall the per share purchase price be less than $1.40. The closing of the sale will occur upon satisfaction of certain closing conditions, including receipt of certain governmental approvals.

LightPath intends to use the proceeds of the sale to provide working capital to support the continued growth of its business, including new product development and capital expenditures related to acquisition of new equipment, both of which are critical to the Company’s growth plans.

The shares to be purchased in the Offering have not been registered under the Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from registration. LightPath has granted Pudong certain “piggyback” registration rights should the Company file with the Securities and Exchange Commission a registration statement to register its equity securities for its own account or the account of others under the Securities Act of 1933, as amended, at any time after the one-year anniversary of the closing date of this private placement with Pudong. The shares sold to Pudong in the Offering are subject to a three-year lock up period commencing on the closing of the sale.

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities of LightPath. The shares of Common Stock are being sold pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws.

Jim Gaynor, President and Chief Executive Officer of LightPath, commented, “LightPath is extremely pleased and excited about Pudong’s investment in our company. The funds will assist LightPath in executing its strategy of becoming a leading global supplier of optical components and increase our penetration in our various markets including telecom, digital imaging and custom assemblies.”

Dr. Xudong Zhu, President of Pudong, added, “We are pleased to have the opportunity to invest more in LightPath. Our increased investment in LightPath reflects the growth they have demonstrated and our confidence in their continued expansion.”

 

About Pudong Science & Technology (Cayman) Co., Ltd.

Pudong is an investment vehicle wholly owned by Shanghai Pudong Science & Technology Investment Co., Ltd., which is a Shanghai-based investment management company with a leading professional management team, diversified business lines, strong financial position and rich strategic resources. For more information, visit www.pdsti.com.

About LightPath Technologies:

LightPath Technologies, Inc. (NASDAQ: LPTH) provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM® lenses. LightPath also offers custom optical assemblies, including full engineering design support. For more information, visit www.lightpath.com.

This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand our presence in certain markets, future sales growth, continuing reductions in cash usage and implementation of new distribution channels. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

 

WuXi PharmaTech Cayman : : Announces management appointments

Fotolia_5028090_XS1.320213857_std-300x222SHANGHAI, April 15, 2014 /PRNewswire/ — WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading pharmaceutical, biotechnology, and medical device R&D services company with operations in China and the United States, today announced that Dr. Steve Yang has joined the company as Executive Vice President and Chief Operating Officer. Edward Hu will assume new responsibilities as Chief Investment Officer and remain as Chief Financial Officer.

Dr. Yang is a pharmaceutical industry leader recognized for building R&D capabilities, delivering research and early development portfolios of drug candidates, and establishing R&D partnerships in China and other Asian and emerging markets. Before joining WuXi, Dr. Yang was Vice President and Head of Asia and Emerging Markets iMed at AstraZeneca, based in Shanghai. He and his team transformed the mission of AstraZeneca Innovation Center China, delivered AstraZeneca’s first preclinical drug candidate discovered in China, strengthened translational science capabilities, established research outsourcing strategic partnerships, and facilitated and managed a series of scientific collaborations in China, Russia, Israel, Taiwan, and Korea.

Previously, Dr. Yang served as Vice President and Head of Asia R&D at Pfizer based in Shanghai, and as Executive Director and head of Pfizer’s global R&D strategic management group based in the United States. Before joining Pfizer, Dr. Yang held a number of leadership positions at IntraBiotics Pharmaceuticals, a U.S.-based biotech company. He also worked for Strategic Decisions Group, a strategy consulting firm for Fortune 100 companies. He co-founded the BayHelix Group, a non-profit global professional organization of Chinese life science business leaders, and served as Chairman for two terms.

The Company also announced that Edward Hu will serve as the new Chief Investment Officer in addition to his current role as Chief Financial Officer. Mr. Hu will be responsible for companywide investments, including strategic investments in new businesses, corporate venture capital investments, mergers and acquisitions, and joint ventures. He has served as the Company’s Chief Operating Officer since January 2008 and as Chief Financial Officer since February 2009. He spearheaded efforts to build many of the company’s new businesses, including biologics, toxicology, genomics, and clinical trial services in China. He led the acquisition and integration of AppTec, Abgent, and MedKey. He also created and has managed WuXi’s joint ventures with MedImmune to co-develop an innovative biologics product in China, and with PRA to create a clinical CRO in China that meets the highest international standards.

“I’m very pleased that Steve has joined WuXi as our Chief Operating Officer, and that Ed will assume additional responsibilities as our Chief Investment Officer,” said Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech. “It is heroic efforts of leaders like Ed, with determination to build the best technology, science and capability platform to serve our customers, that have brought WuXi to where we are today. I am thrilled to have the opportunity to work with Ed, Steve, our WuXi leadership team and all of our WuXi colleagues to continue our mission to build the best R&D platform to enable anyone and any company to discover and develop healthcare products to benefit patients.”

 

About WuXi PharmaTech

WuXi PharmaTech (NYSE: WX) is a leading pharmaceutical, biotechnology, and medical device R&D outsourcing company, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical, biotechnology and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi PharmaTech’s services are designed to help its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. The operating subsidiaries of WuXi PharmaTech are known as WuXi AppTec.

Nominations open for Cayman Islands annual nursing award

awards4_copyNominations for the annual Eloise Reid Award for Excellence in Nursing are now open. Members of the public, whether they are peers, patients or colleagues are urged to nominate a nurse they believe should be recognised and appreciated for his/her contribution and service to the Cayman community as a candidate for the award.

Nominees must have demonstrated excellence in the application of the standards for nursing practice and code of ethics, and have made exceptional contributions to the nursing profession in clinical practice. The deadline to submit nominations is Monday, 5 May 2014.

“There are many dedicated, outstanding nurses living and working in the Cayman Islands. This award is a great way to bring us all together to celebrate the hard work that nurses do, and recognise the vital support that they offer to the healthcare profession,” explained Eloise Reid, former Health Services Authority CEO and Chief Nursing Officer for whom the award is named.

“I encourage everyone to take the time to think of a nurse who has gone above and beyond in her duties, and make the effort to submit his/her name so that we can in turn show our appreciation as colleagues,” continued Mrs Reid.

Joanna Rose-Wright, recipient of the 2013 Eloise Reid Award, reiterated that it is important to show appreciation for the efforts of nurses. “(Mrs Reid) encouraged all nurses to maintain professionalism and always strive for excellence,” she added.

The criteria for nominees include: the possession of high ethical standards; serving as a resource for colleagues and taking the initiative to mentor others; impact on the quality patient care system; exhibiting the characteristics of a positive role model with strong leadership and interpersonal skills; an expert level of competency in the delivery of holistic care; the ability and desire to acquire new learning and incorporate it in the practice environment; promotion of a high quality nursing practice environment; advocacy for quality health care; and demonstrated commitment to the promotion of the nursing profession.

Launched six years ago, the Eloise Reid Award for Excellence in Nursing will be sponsored this year by Tenet Health and presented during Nurses Week which take place on 10-16 May 2014.

The winner will be chosen by a selection committee, which is appointed by the Chief Nursing Officer, Hazel Brown, and will be awarded at the conference’s welcome cocktail reception on Monday, 12 May at the Marriott Beach Resort.

Nomination forms are available at the Health Services Authority or can be downloaded from the Cayman Islands Nurses Association’s website (www.cina.ky).

For more information, call 244-2610 or 244-2617.

 

 

Maples and Calder announces partner relocations

Clipboard03(1)International law firm, Maples and Calder continues to strengthen its global presence and capabilities with a number of recent internal transfers.

Shaun Denton, previously the Managing Partner of the firm’s London office, has relocated to Asia to head up the Hong Kong office.  He joined Maples and Calder in 1995 and has extensive experience in all types of capital markets and structured finance transactions, including securitisations, repackagings and derivatives.

Maples and Calder’s Hong Kong office has experienced substantial growth and success since opening in 1995.  The office principally practises the laws of the Cayman Islands and the British Virgin Islands and focuses on corporate and financial legal services.

In addition, the firm’s London office will benefit from the collective expertise of partners, Nick Evans and Heidi de Vries, who recently relocated from its Cayman Islands office.  Heidi specialises in the structuring, formation and ongoing maintenance of investment funds, including hedge funds and private equity funds.  Her experience includes the establishment of Cayman Islands and British Virgin Islands companies and partnerships and advising on a broad range of corporate and commercial matters.

Nick advises on the formation and maintenance of all types of investment funds, including hedge funds and private equity funds.  Nick also has experience of a very wide range of corporate transactions, with particular expertise in M&A transactions, together with restructurings, joint venture arrangements, financing transactions and structured finance deals.

London office Managing Partner, Paul Govier, commented, “Nick and Heidi’s knowledge and expertise will serve to strengthen our presence in London, furthering our commitment to delivering the high levels of service expected by our clients.”

Maples and Calder’s London office provides Cayman Islands and British Virgin Islands legal advice, specialising in the investment funds, finance, company commercial and trusts practice areas.  London serves as a key base for the firm, enabling clients to seamlessly access the Maples group’s global network from a European time zone.

“These strategic transfers align with Maples and Calder’s commitment to these regions, enabling us to continue to meet our clients’ needs on a global level,” said Global Managing Partner, Henry Smith.

About Maples and Calder

Maples and Calder is a leading international law firm advising financial, institutional, business and private clients around the world on the laws of the Cayman Islands, Ireland and the British Virgin Islands.  Maples and Calder has offices in the Cayman Islands, the British Virgin Islands, Dubai, Dublin, Hong Kong, London and Singapore.

With a reputation as an innovative, entrepreneurial firm, Maples and Calder is known worldwide as a market leader with highly qualified lawyers, who are specialists in their respective practice areas.

About MaplesFS

MaplesFS is a leading specialised fiduciary and fund services provider.  MaplesFS has offices in the Cayman Islands, Delaware, Dubai, Dublin, Hong Kong, Luxembourg, Montreal, New York and Singapore.

MaplesFS is led by a team of experienced professionals and is committed to providing a high level of service, tailored to specific client requirements.

 

UCCI Annual Report

UCCIThe following are excerpts from:

Annual Report of The President on the work of The University College Of The Cayman Islands (“UCCI”) for the Academic Year September 2012 – July 2013

Introduction:

Even by the most rigorous and exacting standards, the Academic Year 2012/2013 would qualify as another year of stellar growth and improvement for the University College.  The exception to this achievement is in the institution’s finances.  While this matter will be fully explored in a subsequent section of this Report, suffice it to say here that it is clear that the University College’s finances have never recovered from the Hassan Syed fiasco.  At the very least, some entity or individual should have been responsible for reimbursing the approximately CI$300,000.00 which the Auditor General’s Office claims is unaccounted for at this time.

Notwithstanding this aberration, however, the current Board of Governors and the University College as a community continues to work conscientiously at making the College a respected, popular and academically acclaimed institution.  Over the past academic year, there has been a continuing trend of positive developments. Important among these are:

Administrative:

1.   The Administration, Faculty and Staff Manual, 2013 (Employee Handbook);

2.   The launch of the UCCI Strategic Visioning Exercise.

Academic:

1.   The revision of the Pre-College Studies Programme;

2.   The launch of the Bachelor of Science in Nursing Programme;

3.   The completion of the Associates Degree in Legal Studies  (ADLS) for launching September

2013;

4.   Associate Membership of the UCCI into the Commonwealth of Learning (COL) and the Virtual University of Small States of the Commonwealth (VUSSC);

5.   The reorganization and  rebranding  of  the  Graduate  Studies  and  Professional  Development Centre under its new Director, Dr. J.D. Mosley-Matchett, Acting Dean;

6.   The addition of the Commonwealth Executive Masters in Business Administration (CEMBA) and the Commonwealth Executive Masters in Public Administration (CEMPA) degrees (see 4. above);

7.  The addition of the Distinguished Lecture Series in which eminent academics and other distinguished personalities are invited to deliver lectures on current matters;

8.   Grade Point Average Realignment, placing the UCCI in line with international best practices.

Finances:

As alluded to earlier, finances, or the lack thereof, continue to be the proverbial ‘sword of Damocles’ hanging over the University College’s head. There can be no   better illustration of the precariousness of the financial situation than to draw the  reader’s attention to the situation between the Academic Year 2011/2012 when the Chief Financial Officer reported a modest surplus of just under half a million dollars, in comparison to the situation which exists at the time of this Report. The surplus has dwindled to a paltry CI$12,205.00, with no hope for improvement.

In any organization this would be reason for alarm, especially as such a reduction did not occur from fraud, misappropriation or any similar malfeasance on the part of the present administration. I have long held that the relationship between the University College and the Ministry of Education should be re-examined with a view to crafting a more modern and enlightened relationship with regard to financial support of the UCCI.  The current situation is frustrating, straightjacketed and inimical to the growth of the University College.  Let us examine the reasons for this conclusion. Over the recent past, the University College administration has made two concerted attempts to persuade the Ministry of Education that tuition fees, which have not been raised since 2003, need to be raised.  Even with Board support, the Ministry of Education was not amenable to these pleas. In a subsequent move, the Chief Financial Officer, with the concurrence of the Board and the administration, meticulously prepared a document entitled “Recapitalizing the University College of the Cayman Islands”.  Again, this effort was drowned in negativity and intransigence and, up to now, remains uncommented upon.   Failure to address this challenge has brought unwarranted strain on the cash flow situation at the UCCI.

Contrary to what transpires in Cayman, in the academic world tuition fees are raised at regular intervals.   If we take the United States, for example, tuition fees are raised an average of approximately five percent per annum.

As if the above did not complicate the situation enough, let us take the examples of the development of the Dual Entry Programme and the Pre-College Studies Programme.  In discussions leading up to the drafting and implementation of these programmes, the Ministry of Education gave the distinct impression that, as a partner, the UCCI would not have to bear the brunt of the finances for these programmes.

While this may have been the intention, the actuality is far more sobering as, in the case of the Pre- College Studies Programme, only Board intervention allowed the University College to collect the agreed money for the programme’s drafting and approval in the first instance whilst the annual grant for its continued existence ceased after that initial collection.  It is no small accomplishment that the University College has not only been able to continue this programme but, as of the Academic   Year   2013/2014, anticipates significant improvements. As for the Dual Entry Programme, not even increased numbers have brought additional remuneration to the University College.

Falling Enrollment:

Falling enrollment in other programmes (see Registrar’s Report) over the past academic year has not only impacted negatively on revenues, but also impinges on the College’s ability to offer certain programmes.  For the University College to achieve its full potential, the Government (Ministry of Education) must do more to ensure that enrollment is consistently at its maximum.  While the University College has its own campaign to attract students, the current policy of funding students to study abroad for programmes offered at the undergraduate level at the UCCI is inimical to the interests of the University College and counterproductive to its growth and development strategies.

Employee Handbook & The UCCI Strategic Plan:

For the first time since its existence the University College will have a document which informs on how the institution is run on a day-to-day basis, as well as to inform on systems, standards and protocols.  Produced by the President and some Senior Administration members, this valuable document comes at no production costs to the University College.

It is anticipated that this document will be accepted by the Board of Governors and, having already been accepted by faculty and staff, comes into effect early in the 2013/2014 Academic Year.

The UCCI Strategic Plan is completed and was presented to the Board of Governors on October 23rd, 2013.  Assuming that this document and the Employee Handbook are accepted by the Board, there will then have to be some assessment and quantification of the costs associated with the implementation of the accepted recommendations in both documents.

I underscore this development lest it be misunderstood or misconstrued as to suggest that there are  no  budgetary  implications  involved  in  the  acceptance  of  the  recommendations  in  these documents.

In the ideal situation, such an assessment and quantification should be made within six weeks of the acceptance of these documents.  Thereafter, a presentation should be made to the Board for its approval of the strategies and recommendations.

Departmental Matters:

I wish to publicly commend Department Chairs for the stellar performance during the Academic Year 2012/2013.  Much remains to be done, but marked progress has been made and there is an anticipation of continuing improvements.

It would be remiss of me to not give special kudos and gratitude to Dr. Robert Weishan, the former Chair of the Business Studies Department, for his inspiring leadership during his years as Department Chair.

Welcome  and  congratulations  go  out  to  Dr.  Martin  Richards  who  succeeds  Dr.  Wieshan.    Dr. Richards is similarly motivated and committed and we look forward to continued success under his leadership.

Congratulations are also due to Miss Erica Gordon upon successfully completing her probationary period and being appointed to the Chair of the Arts and Humanities Department.  In addition to her departmental responsibility, Miss Gordon is the co-Chair of the UCCI Strategic Visioning Exercise Committee.   Her energy and involvement is indicative of that of her colleagues and it is these persons who make the UCCI a great place for our students.

Two other members of staff are to be congratulated upon their appointments to senior posts. These are Dr. J.D. Mosely-Matchett, Acting Dean and Director of Graduate Studies and Professional Development Centre, and Mr Jayson DaCosta, Acting Dean of Admissions and College Registrar.

Both of these persons are members of the Administrative and Academic Committee, a statutory committee established under  the University College Law (2012  Revision) and members of  the Senior Management Team which, while not legally constituted, does provide valuable advice and guidance to the President.

Outstanding Matters:

Let me now turn to challenges which I see facing the University College and, by inference, the Government.

The first of these has to do with the ability of the University College to remain on the cutting-edge of instructional technology.   Currently, the University College has an enviable track record in incorporating ICT in its teaching and instructional development.  Ipads are mandatory for each student studying at the UCCI and most recently the College was the recipient of twelve Apple T.V.s which takes our instruction up to a higher level yet.

The Cayman Brac Campus is serviced from the main Campus on Grand Cayman by a Polycom system.  Currently, one of the two cameras is not operational.  As there is no money budgeted for replacement, some inconvenience is being experienced.   This, and similar situations, will be aggravated and exacerbated by the inability of the Government to increase the grant or to allow the College to raise its tuition fees.

As President, I find myself frequently soliciting private sector donations and sponsorships.  It is a role with which I will have to accustom myself, although I must say that it is often humbling and does take up much time.

Of an even more serious nature, however, is the ageing and dilapidating state of the Campus.  Most recently, the University College received a citation from the Fire Inspectors as our automated fire alarm system is completely rusted out.  While the replacement costs an unbudgeted CI$52,000.00, the situation could have been worse.  The equipment, however, has to be replaced immediately.  I am concerned also about crumbling ceilings in some classrooms and possible exposure to mould.

There is no available nurse and gender segregated sick bay – an unheard of situation for a college of over one thousand students.   This is a situation which can only be described as a “ticking time bomb” and yet there seems no attempt on the part of the Government to address it, in spite of the repetitive flagging of this matter in my reports.

The Campus is not human rights’ compliant and is ill equipped to cater to physically challenged students. The only wheelchair ramp in existence, besides that leading to the entrance of the Sir Vassel Johnson Hall, has only been constructed in the recent past.  This, of course, is compounded by a lack of elevators.

To accommodate the School of Nursing and the Pre-College Studies Programme, a total of four modular classrooms were received as a gift from the Ministry of Education.  The University College wishes to convey its gratitude to the Ministry of Education for this donation.  While it is obvious that these classrooms have been refurbished to a high standard, it is also clear that their presence among the other buildings is an incongruity more indicative of a third world backwater than a jurisdiction which touts its high ranking among the world’s financial centres.

Let me suggest that the time has come, indeed is now, for the authorities to consider what physical structure will be needed if the University College is to continue to serve these Islands into the future. All of this allows me to segue seamlessly into the conclusion of summary.

The Way Forward and Beyond:

The University College as a tertiary level institution is well on the way to establishing itself as an excellent teaching institution which is renowned for developing character in its students.  The UCCI prides itself on its unique character building programmes.   Men of Standard and Women of Character are voluntary programmes in which our students are taught how to navigate and deal with the challenges of young persons in a changing Cayman Islands.

There was no offering of the Men of Standard Programme during 2012/2013.  The reason is that the programme has now been expanded to include Elocution.  Spread over two semesters, the programme will also include expanded modules on Civics and Citizenship.  As an elective, those students who have successfully completed the programme will be eligible for three credits commencing in the 2013/2014 academic year.

In addition to these programmes, Board permission was received for the creation of a new post of Placement Officer.  Such a person would have been assigned to work with Student Services and would have had responsibility for coordinating, monitoring and recording the community service which  the  UCCI  students  are  mandatorily  required  to  complete  prior  to  their  degrees  being awarded, as well as to organize and manage the internships and work experience modules of the courses.

Regrettably, there were no funds available to activate this position so, although the post was advertised, interviews conducted and a candidate selected, the plan has to be placed in abeyance. To my mind this situation will, in future, be far more representative of the routine than an aberration.  I can only record my concerns that these kinds of incidents can only be symptomatic of a more serious underlying challenge, namely that the financial relationship between College and Government is flawed.

The Government-wide austerity plan has seriously eroded the University College’s ability to service its needs.  As the figures show, this year’s plans call for an additional CI$871,361.00.  I caution that our inability to meet this demand places us frighteningly close to the situation of what I term “diminishing returns”; meaning that we will see no improvements for the money spent because there are so many glaring needs.

New Developments:

As President, I am only too well aware of the importance of placing the University College in a position which reduces its reliance on an austerity challenged Government.  In this regard, I have solicited interest from the UCCI faculty members and some persons from outside the College to participate  in  the  development,  costing  and  marketing  of  two  new  progammes  which  I  am optimistic about.

The first of these I have labeled “Corporate Governance in the Public Sector”.  Such a programme will be primarily designed to prepare Board Members, Civil Servants and staff in Government companies and statutory bodies for their roles and responsibilities of the posts.

A second programme, offered at the degree level, I have tentatively described as “Island Studies”. With its focus on the unique challenges of small Islands and micro-states, this programme covers areas such as climate change, sustainable development, environmental science, tourism, etcetera.

These can be financially rewarding for the UCCI since I have reason to believe that the Caribbean Development Bank has an interest in its development and spread to other relevant regional jurisdictions.  If the feasibility study bears this initiative out, it is anticipated to be launched for the Academic Year 2014/2015.

Discussions are currently underway with the Commonwealth of Learning with a view to enlisting their support in a UCCI Quality Assurance Assessment.   This Assessment should inform us as to what improvements we will need to effect prior to embarking on an accreditation exercise.  As a corollary to this,  the decision  will  have  to  be  made  as  to  whether the UCCI opts to  join  an accrediting agency in the United States or whether it exercises the option to accredit its programmes. There is also a third option, that is that the UCCI could apply to join one of the Canadian  Associations  of  Universities  and  Colleges,  for  example,  the  Ontario  Association  of Universities and Colleges.

I note that next year (August 24th, 2014, to be precise) will be ten years since the institution will have been chartered as a University College.  It strikes me that this will be an ideal time for all involved to examine the future relationship.  In so doing, the first principle to recognize is that the University College as an academic institution has some fundamental differences from the Civil Service, with which so many seem to compare it.  It goes without saying then that the ‘one formula suits all’ cannot work for the UCCI.  May I then suggest that this anniversary will be an opportune time for a full review of the current University College Law (2012 Revision).

By way of anniversary celebrations, it is my suggestion that the event should be marked by some special celebrations which will serve to signify and highlight the importance of the University College in Caymanian society.

In conclusion, I commend this Report to the Board of Governors and look forward to the promise of the 2013/2014 Academic Year and to the exciting and stimulating events such as the Conferences and Open Campus to be held in the Fall and Spring of this Academic Year.

This Report is the official Report of the President of the University College of the Cayman Islands

J. A. Roy Bodden, JP

To read the whole report go to: http://www.ucci.edu.ky/_docs/president/reports/President’s%20Annual%20Report%202012-2013.pdf

 

Third Annual Slow Food Day celebrates eating local in the Cayman Islands with two events on Saturday 12 April 2014

img_0324Who:  James Beard Award -winning international chefs Michael Schwartz (Michael’s Genuine Food  & Drink,

Miami, FL and Grand  Cayman, (CI) and Andrea Reusing (Lantern, Chapel Hill, NC); local chefs Thomas Tennant (Michael’s Genuine Food  & Drink ), Mike Fischetti (Ortanique), Joe Mizzoni (The Brasserie), Steve Shienfield (The Waterfront/Mizu), Patrick Brawley (Abacus), Tonya Foster  (Bay Market), Stefano Fraceschi (Gelato & Co.),  Jessie  Ormond (Jessie’s Juice Bar), Ervin Horvath (Agave Grill), Thushara Siriwardana (Grand Old House); Local farmers Patrick Panton (East End Gardens and Gifts), Joel Walton (Plantation House Organic Garden),  Dr. Annette Stephenson (Stephenson’s Farm), Jennett  Powell and Clarence McLaughlin (Green Valley Plantation) .

What: The restaurants of Camana Bay and Slow Food South Sound announce the participating local farmers and chefs for the Cayman Islands’ third annual Slow Food Day. This celebration of local ingredients and the people who grow and harvest them begins with a tasting around the Camana Bay Town Centre and concludes with a feast on the Town’s waterfront Crescent with local ingredients cooked by farm-to-table leaders, Chef Michael Schwartz and visiting guest, Chef Andrea Reusing along with the restaurants of Camana Bay. Slow Food Day 2014 is made possible through a collaboration of local chefs and farmers and is comprised of two main events with the goal of generating demand, as well as more opportunities for farm-fresh products to show up on restaurant menus and grocery shelves across the island.

When/Where:          Saturday, 12 April 2014

10 am – 12 pm

Farmers Market Tasting at Camana Bay

Taste your way through the Town as it pairs Grand Cayman’s growers with chefs from Camana Bay and other restaurants,  who are committed to sourcing locally for cooking demonstrations featuring farm fresh ingredients. Guests will be able to meet the chefs and farmers, sample their dishes and get the recipes to make them at home. Craftspeople and purveyors of artisanal products will also be displaying their handcrafted wares. Complimentary admission.

 

7 pm

Slow Food Dinner with Michael Schwartz, Andrea Reusing and The Restaurants of Camana Bay

A Feast of Cayman Slow Foods on The Crescent at Camana Bay

Chefs, farmers, residents and visitors will come together for a grass roots gala dinner overlooking The Harbour. Chefs Schwartz and Reusing will be joined by chefs from O rtanique, Mizu, The Waterfront, Abacus, Bay Market , Jessie’s Juice Bar and Gelato & Co. to present  seasonally fresh dishes featuring locally sourced ingredients.

Menu: WELCOME COCKTAIL Local Guava Mojito

Bacardi 8 Rum, fresh local guava juice, fresh lime juice & mint, topped with soda water

KARoo

 

PASSED CANAPES

Local Chicken Liver Pate

Served on gluten -free “life-changing bread” with sorrel hot pepper jelly caramelized onions

Jessie’s Juice Bar

Spicy Lionfish Ceviche

Bay Market

Crispy Thyme  & Sweet Potato Fritter

With guava tamarind ketchup

Bay Market

Local Tomato Bruschetta

Abacus

 

ENTRÉES

Callaloo & Coconut   Grilled Snapper

With local long beans, charred tomato, chilies & basil

Andrea Reusing, Lantern Restaurant, Chapel Hill

Roasted Goat & Wood Roasted  Pumpkin Salad

Long beans, hearts of palm, quinoa, scallion, herbs & parsley vinaigrette

Michael Schwartz, Michael’s Genuine Food  & Drink

Jerked Smoked Local Pork Belly

Local plantain mofongo, local arugula & pickled watermeloalad

Ortanique

Thai-inspired Local Fish

Fish of the Day prepared with local bok choy, sweet  & hot  peppers, galangal with a green curry sauce

Mizu Asian Bistro + Bar

DESSERT

Creameria Trio

Panna cotta with local fruit coulisse, mango mini mousse with caramelized ma ngo  & spice rum sponge cake with Valencia orange & guava   sorbet

Gelato & Co. WINES

2012 Benziger Sauvignon Blanc, Sonoma  North Coast

2010 Benziger Cabernet Sauvignon, Sonoma County

 

Tickets:         CI $120 inclusive of gratuities. Available at The Discovery Centre  in Camana  Bay or at camanabay.com/slowfood. 10% discount for Slow Food members.

PHOTO: thegenuinekitchen.com

 

Dr. Anna Jarvis receives prestigious honour from University of West Indies

58073-Anna_JarvisBy Justin Faiola

Dr. Anna Jarvis, a retired staff physician in the Division of Paediatric Emergency Medicine at The Hospital for Sick Children (SickKids), was presented with the University of West Indies (UWI) Vice Chancellor’s Award at the UWI Toronto Benefit Gala on March 29.

Dr. Anna Jarvis receives her Vice Chancellor’s Award from Professor E. Nigel Harris, Vice Chancellor, The University of the West Indies.

Jarvis, who is a UWI alumna, is one of five recipients of the award, which is given to people of Caribbean heritage who have made significant contributions in Canadian organizations.

“The UWI was an integral part of my personal development,” said Jarvis. “Not only did I attend the UWI – Mona campus in Jamaica – I also lived on campus as my father taught at UWI for many years, and was the first West Indian to be appointed a professor and department head. I witnessed the creation and establishment of the institution as a whole, so to be honoured with this award is something very special.”

Jarvis became a staff member at SickKids in 1977 after four years of paediatric training at SickKids followed by paediatric oncology clinic and ward work at Princess Margaret Hospital. For 13 years, she supervised the Department of Paediatrics Clinical Fellowship Program in Paediatric Emergency Medicine, a program she was instrumental in creating and implementing. She also served as the Associate Dean Health Professions, Student Affairs, University of Toronto, in 2001-2009.

Jarvis has made major educational contributions to the creation and development of learning opportunities in Paediatric Emergency Medicine (PEM), Continuing Education and Life Support in Ontario and abroad. She supported the establishment of PEM and Paediatric Advanced Life Support Programs in Japan and mentors former trainees in the Middle East and other parts of the world as they develop PEM programs. She serves as External Examiner for UWI and Kuwait and also played an active role in the establishment and accreditation of PEM as an independent subspecialty by The Royal College of Physicians and Surgeons of Canada.

Despite her retirement, Jarvis continues to work with SickKids, attending Grand Rounds regularly. She says her continued dedication to education and training is rooted in her experiences at UWI and SickKids.

“Being immersed in education and training at UWI and SickKids has taught me it is important to never give up your students. There are always ways to support them as they travel down new paths. I feel very lucky to have contributed to great changes in health care and health educational learning opportunities.”

The UWI Benefit Gala honours outstanding leaders of Canadian and Caribbean heritage and raises funds for the university scholarship fund. To date, almost 150 scholarships have been awarded to students in financial need. Please visit http://www.uwitorontogala.com/2014/ for more information.

 

 

 

Islamic Finance Group meetings set to meet bi-annually

Alden_McLaughlin,_Premier,_Cayman_IslandswebGRAND CAYMAN, Cayman Islands – The Global Finance and Investment Group, to which Premier Hon. Alden McLaughlin has been appointed, has agreed to meet bi-annually.

Mr. McLaughlin travelled to London last month with Home Affairs Chief Officer Eric Bush and Financial Services Councillor Roy McTaggart. The total cost of the trip, which was from 23-28 March, 2014, was $19,056.02.

Premium economy airfare for the three was $11,913.88; Holiday Inn Mayfair hotel was $4,442.14; and per diem allowances totalled $2,700.

While in London, Mr. McLaughlin had separate meetings with FCO Minister Mark Simmonds and the UK Treasury regarding the budget and various Cayman Islands Government projects. He also met with Lord Blencathra whose contract as the Cayman Islands Representative in London ended on 31 March, 2014.

The Islamic Finance and Investment Group was hosted by Foreign and Commonwealth Senior Minister of State The Right Hon. Baroness Sayeeda Warsi.

The Group was announced at the World Islamic Economic Forum on 30 October, 2013, and the Premier was in London attending its first meeting at Lancaster House.

Ten of the world’s 25 fastest growing markets are Muslim majority countries and globally, Islamic investments are set to grow by CI$2.4 trillion by the end of 2014. British landmarks, including the Olympic Village and the Shard skyscraper, have been financed with Islamic investments, as have Britain’s first deep-sea container port and the Battersea power station.

The Group includes Premiers, Ministers, CEOs of major Islamic banks, central bank Governors and regulators – people who can make a real difference to the global landscape of Islamic Finance.

“The global development of Islamic Finance is a huge opportunity for all of us,” said Baroness Warsi. “Interest in its potential both from within the Muslim World and outside of it demonstrates that it may be the next big thing. I’m confident that by harnessing the technical expertise, business knowledge and political influence of all our members, this group will accelerate the global growth of the Islamic Finance industry. Our ambition is to get things done.”

 

Caribbean Fashion Week announce the launch of ShopCaribbeanFashion.com at CFW 2014

Nell-Robinson-in-Gavin-Douglas-200x300 Oraine-Barrett-in-Designs-by-Marc-by-Marcia-Nicely-200x300From Curacao Chrinicle

Caribbean Fashionweek founder Kingsley Cooper, has announced the exciting launch of ShopCaribbeanFashion.com, an online Caribbean Fashion E commerce website designed to introduce and export the crème of the region’s fashion design talent to an international audience.

The CFW team has partnered with Jessica Huie, Founder of London agency JH Public Relations (www.jhpr.co.uk) and international branding expert Kubi Springer (www.shebuildsbrands.com) to launch.

ShopCaribbeanFashion.com, introduce onsite shopping at CFW, and develop the brand’s business forum, which takes place on the morning of June 15, prior to the evening’s fashion show.

Caribbean Fashionweek is scheduled for June 11-16, 2014 and will be held in Kingston, Jamaica.

Cooper said, “We are all extremely excited about the evolution of CFW. This year’s event will give designers an opportunity to sell their collections not just to the attendees at the venue, but to a global audience. It is a return to the true essence of what Caribbean Fashion week is about empowering designers to create commercial business opportunities from their talent and drive export opportunities. We are delighted to have Jessica Huie and Kubi Springer invest their talent and dedication to the ShopCaribbeanFashion initiative. CFW 2014 signifies an imperative evolution of the brand and we are looking forward to unveiling the new website.”

Designers will be invited to submit a 6 piece capsule of their larger collections to be shown at CFW. These select pieces along with other items from the collection will be available for sale on the ShopCaribbeanFashion.com website. The site is set to go live at the opening night of CFW 2014.

Additionally, this year’s event will see the launch of the shopping lounge on site, where attendees can shop the looks from their favorite catwalk collection and leave with their outfit in hand.

The business forum at this year’s event will be substantially broadened, with additional workshops on branding, Public Relations for creative’s, securing finance and other integral topics, all geared at helping fashion designers and creative entrepreneurs to monetize their talent and create commercially viable businesses.

For more on this story go to: http://curacaochronicle.com/fashion/caribbean-fashion-week-announce-the-launch-of-shopcaribbeanfashion-com-at-cfw-2014/

Puma Energy announces new COO for Americas Regions

RodrigoZavala_insetRodrigo Adolfo Zavala to lead day-to-day operations throughout Latin America and the Caribbean.

Puma Energy announced [last month] the appointment of Rodrigo Adolfo Zavala as new Chief Operating Officer (COO) for Puma Energy Americas.

In his new role, Rodrigo will manage the day-to-day operations of the company in Central and South America and the Caribbean, reporting directly to Puma Energy CEO, Pierre Eladari. Former Puma Energy Americas COO Serafin Ruiz will remain with the company as an advisor to the Puma Energy board in Geneva.

Rodrigo brings to this position over 20 years of energy industry experience in sales management, operations, marketing and finance throughout the Americas. Joining Puma Energy in 2011, Rodrigo was instrumental in the firm’s successful acquisition of ExxonMobil assets in Central America and played a key role in the company’s expansion into the South American market as general manager for Puma Energy in Paraguay. Most recently, Rodrigo has worked as deputy COO based in Puerto Rico. Prior to joining Puma Energy, Rodrigo held positions in Petrobras Energia S.A. and Operaciones Transparentes. He began his career at Shell CAPSA in Argentina.

“With his wealth of experience and proven record of success, Rodrigo is uniquely qualified to lead Puma Energy’s operations throughout the Americas. I am confident that under Rodrigo’s leadership Puma Energy Americas will both continue to capitalize on the gains of our recent acquisitions while also seeking opportunities to expand aggressively in this critical and growing regional market,” said Pierre Eladari, Puma Energy CEO.

“I am honored to be selected as COO and am thrilled to begin this new chapter of my career with Puma Energy Americas. Looking ahead, I am eager to continue and build upon the great work Puma Energy is doing across the Americas, continuing to satisfy thousands of business and retail customers with the highest quality in product and service,” said Zavala.

For more information, please contact:

Puma Energy media@pumaenergy.com

Puma Energy

Puma Energy is a global integrated midstream and downstream oil company active in over 35 countries. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development. The company directly manages over 6,000 employees. Headquartered in Singapore, it has regional hubs in Johannesburg (South Africa), San Juan (Puerto Rico), Brisbane (Australia) and Tallinn (Estonia).

Puma Energy’s core activities in the midstream sector include the supply, storage and transportation of petroleum products. Puma Energy’s activities are underpinned by investment in infrastructure which optimises supply chain systems, capturing value as both asset owner and marketer of product.

Puma Energy’s downstream activities include the distribution, retail sales and wholesale of the full range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors. Puma Energy currently has a global network of over 1,600 retail service stations. Puma Energy also provides a robust platform for independent entrepreneurs to develop their businesses, by providing a viable alternative to traditional market supply sources. Puma Energy’s strategic shareholders are Trafigura Beheer B.V, one of the world’s largest independent commodity traders, and Sonangol, the national oil company of Angola.

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