Ann: Netlinkz agreement with iSoftStone for it to own 80% of JV, page-10

  1. 1,026 Posts.
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    To add to my posts I particularly like this from the announcement.

    "The Company had previously announced to the ASX on 11 July 2019 that it had signed a Memorandum of Understanding with iSoftStone to enter into a joint venture agreement where iSoftStone would own the controlling stake at 51% and Netlinkz would own 49%. The shareholding change to 80% for Netlinkz ownership and 20% to iSoftStone’s nominated entity reflects the acknowledgement by iSoftStone that Netlinkz is supplying significant management expertise and financial resources to ensure the success of iLinkAll. "
    And this
    "This change in ownership structure of iLinkAll has meant the Company can revise its previously announced expected revenue for 1 Jan 2020 to 31 Dec 2020 from A$10.1m to A$15.3m."
 
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