General Question encountered today

Hello Fellow GMATters,

I was writing an analysis report today and found a statement written by my colleague.

Original statement:
Company X holds apprx 46% of Company Y's share capital will be entitled to designate two candidates

Modified statement:
Here i have two views in mind while changing the statement.

1. Mod Stmt: X holds appx 46% stake in Y and will be entitled to designate two candidates (completely on future basis)

2. Mod stmt: X holds apprx 46% stake in Y and is entitled to designate two candidate (as a whole, keeping in mind, the right to designate since the time they held the stake)

I often get confused when writing the shareholders agreement reports.
Please correct me in all aspects.

Thanks in advance!