Should the JV company issue shares in the next two years, Y Ventures will be issued shares at a nominal consideration to maintain its 20% stake in the JV company. It also has an option to require its JV partner to purchase the company’s entire shareholding, at any time within five years.
SINGAPORE (Oct 30): DBS Group Holdings and UOB KayHian see Y Ventures Group’s reduced 20% stake in a JV company for the development of the Aora platform and the ICO (Initial Coin Offering) of Aora Coins as a positive move, given the uncertainties linked to the ICO process.
To recap, Y Ventures will receive $400,000 in cash from its JV partner for the smaller stake. The JV will also repay all loans, debts and other amounts due to Y Ventures.
