Dining Collective Pte. Ltd. announced a binding joint venture agreement for gross proceeds of SGD 199,998 on January 29, 2019. The transaction will include participation from existing investors Japan Foods Holding Ltd. (Catalist:5OI) and Minor Food Group (Singapore) Pte. Ltd. Each investor will invest 99,999 shares each at the price of SGD 1 per share for gross proceeds of SGD 99,999, will retain their 50% stake and increase holding to 100,000 shares. The issued and paid up ordinary share capital of the company will increase from SGD 2 comprising 2 shares to SGD 200,000, comprising 200,000 shares. The shareholders of the company shall not transfer any share without the prior consent of the other shareholder, save for any transfer to its wholly-owned subsidiary. Japan Foods Holding Ltd. and Minor Food Group (Singapore) Pte. Ltd. shall each be entitled to nominate, appoint, and maintain two persons as directors. The chairman of the board of directors of the company shall be appointed by rotation, on a yearly basis, between a director appointed by the Japan Foods Holding Ltd. and a director appointed by Minor Food Group (Singapore) Pte. Ltd. The transaction has been appointed by the board of directors of Japan Foods Holding Ltd.