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SUBSIDIARY NAME

VERITAS USA INC

COUNTRY

USA

SECTOR/ INDUSTRY

DEVELOPMENT

OWNERSHIP %

100% IIB-DG

ACQUISITION DATE

FEB 7, 2022

ACQUISITION VALUATION

290 MILLION USD

TOTAL ASSET VALUATION

2.9 BILLION USD

REAL ESTATE

VERITAS GROUP LIMITED: The Veritas Group Limited, incorporated in Bermuda, has created a portfolio of project that it seeks to fund via the IIB Development Group SPV funding SBLC scenario, through our subsidiary in USA, Veritas USA Inc. We have obtained security instruments in the form of an A+ rated SBLC for $100m USD as well as investment estimated at $22m USD in developer funds. The developer’s funds were invested as part of development in Highland Country biomass to renewable natural gas (RNG) project, Florida, USA and 6 property developments in Western Cape and 1 in Johannesburg, Gauteng, South Africa, combined.

SUBSIDIARY NAME

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