POTENTIAL NEWS - “VENTURE BUILDER Model Announcements3 Dec 2020 08:44
DISH Summary from recent RNS -
POTENTIAL NEWS - “VENTURE BUILDER Model Announcements
New CEO appnt - TBA - (experienced in technology-led sales in international markets)
New NED: TBA
New enhanced Mngt Team - TBC
Change of Co name: DISH to XXXXX - TBC
Further Update on Co strategy with private investor -TBC
Geographical segments:India, Jersey, Hong Kong, Indonesia and the Philippines. Its subsidiaries include BigDish Limited, BigDish Inc. and PT BigDish Ventures Indonesia.
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New Business goal - Developing a “Venture Builder” business model to gain sweat equity stakes in a portfolio of assets with no cash outlay.
New Business Strategy - Update on investing in business technology companies aquiring % shares stake for software development as alternative to payment. I.e. developing a Venture Builder model to diversify into having a portfolio of technology business assets, which would include the BigDish platform.
*Funding -
BigDish business to be funded privately and in a non-dilutive manner.
$5m Private Investor to aquire 20% stake of SPV*
The investor” would own 20% of the SPV*.
This investment would be made into a private company, a *Special Purpose Vehicle (SPV), that would operate the BigDish business.
The SPV would operate BigDish in various international markets including the UK
*Funding - yes beyond the 2nd quarter due to lower cost in India offshore IT tech team.
DISH -India based software development team
The technology team is able to modify the code to make the technology applicable to other sectors. Therefore, the Company has decided to commercialise the opportunity, especially given that opportunities have multiplied in technology and online applications, due to the pandemic. (Awaiting updte on Development Progress)
‘Company to update on Agreements for Equity Stakes”
On: “signed agreements with several significant startup and early stage technology companies” whereby BigDish will provide the technology in return for equity stakes. There will be no cash contribution required from BigDish to support these businesses.
- Own equity stakes in exciting ventures with no capital outlay. TBC
- ‘several businesses that have been identified” that the Venture Builder will build technology for and the Company will update the market in due course. TBC
FTH