Brief: St James House Announces Lottery Joint Venture With Zeu Crypto Networks

St-Georges Eco-Mining

02/08/2019 11:08

Aug 2 (Reuters) - St James House PLC  SJH.L :
    * NEW LOTTERY JOINT VENTURE
    * GROUP WILL HOLD A 45.0 PER CENT EQUITY INTEREST IN JV
    * ALL COSTS OF JV WILL BE MET BY ZEU AND IN RETURN ZEU WILL
CHARGE
A SERVICE FEE THAT WILL NOT EXCEED 90.0 PER CENT OF REVENUES
FROM JV
    * SJH WILL APPOINT THREE DIRECTORS TO JV, FROM EXISTING
GROUP
DIRECTORS, CONSULTANTS AND EMPLOYEES, AND ZEU WILL APPOINT TWO
DIRECTORS
    * REMAINING 10.0 PER CENT OF REVENUES OF JV WILL BE
DISTRIBUTED AS
A DIVIDEND TO SHAREHOLDERS
    * GROUP'S INTEREST IN JV WILL BE HELD BY PPS BLOCKCHAIN LTD,
A
NEWLY INCORPORATED, WHOLLY OWNED SUBSIDIARY OF SJH
    * GROUP WILL RECEIVE 4.5 PER CENT OF REVENUES OF JV BY WAY
OF
DIVIDEND
    * PURPOSE OF JV WILL BE TO ESTABLISH, RUN BLOCKCHAIN-BASED
LOTTERY
USING ZEU'S BLOCKCHAIN TECHNOLOGY
    * JV WILL BE INCORPORATED AND ESTABLISHED IN MALTA
    * TO ESTABLISH LOTTERY JV WITH ZEU CRYPTO NETWORKS LTD, A
UNIT OF
ST GEORGES ECO MINING CORP OF MONTREAL CANADA
    * OTHER SHAREHOLDERS IN JV WILL BE ZEU WITH 19.9 PER CENT,
SGEM
WITH 19.9 PER CENT AND BALANCE WITH OUTSIDE SHAREHOLDERS

Source text for Eikon:  ID:nRSB7436Ha 
Further company coverage:  SJH.L 

 ((Reuters.Briefs@thomsonreuters.com;))