Universal Entertainment Corporation
Notice Regarding Use of a New Overseas Gaming Equipment Company and Related Party Transactions
Advancing overseas gaming equipment business using the new company UDN Gaming, Inc. and resolving related party transactions. Includes a funding facility of 25 million USD, IP license usage, and provision of supporting services. UDN is 100% funded and controlled by Tomohiro Okada.
Key Figures
- Credit line (Establishment of credit facility): US$25,000,000
- License basic agreement: US$100 per unit
- Loan interest rate: 5.12% per year
AI要約
Establishment of a New Company and Related Party Transactions
At today's board meeting, it was resolved to establish overseas gaming equipment business via the new company UDN Gaming, Inc. and to conclude contracts for setting up a funding facility, IP license usage, and various supporting services. UDN will be 100% funded by Tomohiro Okada, and the company is considering consolidating UD N as a subsidiary.
Overview of Related Party Transactions and Governance
Credit line is US$25 million, interest rate is 5.12% annually, repayment at the end of the facility period in full, with partial repayment also possible. Under the basic license agreement, US$100 per unit, with a one-year renewal and automatic renewal. Support services are charged at a service fee with a 6% profit mark-up. To ensure fairness, opinions of five independent directors are sought, Mr. Okada does not participate in deliberations, and the approvals of the Audit Committee are obtained.
Universal Entertainment Corp.
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