SSLVC Advises Of The Sale Of A 20.0% Stake In Blue Dot Data Intelligence Limited

• SSL Venture Capital Jamaica Ltd. (SSLVC) advises that it has sold a 20.0% stake in Blue Dot Data Intelligence Limited to Yes Iyah Limited. The terms of the transaction were not disclosed. Yes Iyah Limited is a company operated by Ryan Reid, Michael Banbury and Sean Shelton. Reid and Banbury are cofounders of FirstRock Capital Holdings. 
• SSLVC had notified the market on May 1, 2020 that it sold the shares to the Founder of Blue Dot and later notified on August 15, 2021 that the Founder’s obligations were not completed. SSLVC exercised its rights, and the Agreement was repudiated. 20% of the shares held by SSLVC were then sold to a third party Yes Iyah Limited on October 06, 2021. 
• SSLVC is in discussions to sell the remaining shares and will notify the market as soon as the transaction is completed. The relationship between SSLVC and the Founder remains positive. 
• The sale will likely result in a one-off gain for the company but could result in a decline in future revenues if the funds are not reinvested in a lucrative opportunity.

(Source: JSE & NCBCM Research)