FastForward Innovations Limited acquire stake in Chinese video distribution network Yooya Media

January 11, 2016

Kerman & Co LLP advised AIM listed client FastForward Innovations Limited on its acquisition of 7.49% of the issued shares of Entertainment Direct Asia Ltd. (Yooya), an online video distribution network with subsidiaries in Hong Kong and China, which provides licensing and management services for video rights owners and leading content providers in the People’s Republic of China.  FastForward Innovations Limited subscribed for 12,910 Series Seed Shares of Yooya at a price of US$69.71 per Yooya share for US$900,000. In addition, FastFroward has been granted an option to acquire a further 14,345 new shares of Yooya, on the same terms, if exercised FastForward would own 15% of Yooya.

FastForward Director Lorne Abony commented: “China is already the largest market for online video in the world, and is still growing dramatically.  The world’s biggest media companies and brands alike are increasingly seeking greater online video exposure in China, where already hundreds of millions users are voraciously consuming online video each and every day. We anticipate that Yooya will become the leading multi-platform network in China, thanks to their visionary technology-driven approach to connecting video platforms, rights owners, and advertisers, and their strong management team. The Yooya investment is another example of an investment aligned with our core philosophy. We invest in visionary entrepreneurs like the team at Yooya who are developing innovative technologies to solve problems in their industries.  We aim to bring early stage private investment opportunities, previously reserved for venture capital firms, to our shareholders and offer liquidity to all our shareholders through our listed platform. FastForward is uniquely poised to eliminate the barriers to investing in private technology and life sciences startups that previously existed for retail investors.”

In addition, in January 2016 Kerman & Co acted for FastForward on two placings of new shares by the company to raise in aggregate US$12.8 million.

Michael Corcoran, a Consultant in the Corporate team at Kerman & Co. lead the transactions.