MYFC HOLDING AB (PUBL) myFC Holding AB has formed a joint venture company, myFC Asia Ltd. (myFC Asia), together with the Novel Unicorn with the purpose of working the Chinese telecom market. Novel Unicorn has long and extensive experience within the areas of telecom, fine tech and access solutions in the Chinese market. The joint venture's goal is to introduce and establish JAQ, the world's smallest and most powerful fuel cell charger that provides green electricity to cell phones and tablets, to the Chinese market.
myFC Asia will initially be 70% owned by Novel Unicorn and 30% by myFC Holding. The joint venture agreement comprises predetermined goals concerning sales volumes and income from the Chinese market extending up to and including 2018. On the condition that these goals are consistently met, Novel Unicorn has the right to remuneration in the form of warrants in myFC Holding.
This will be accomplished through a sanction by the Annual Meeting, or alternatively through a decision made at the Annual General meeting.
