Mrs Angela Leong Eric and four
Sina Finance News December 31, according to Hong Kong media reported on Tuesday Stanley Ho (28), all listed companies to transfer Angela Leong SJM's gambling licenses held by the whole owned subsidiary of the Company
According to Hong Kong, According to HKEx, disclosure of interests, Stanley Ho on Tuesday (28), all listed companies to transfer Angela Leong SJM's gambling licenses held by a wholly-owned subsidiary 10% of the shares, the annual dividend may only be one pataca, has no right to block any resolution.
under Macau law, the company holds gaming licenses, of which 10% interest in the Macau permanent residents to be the Managing Director were held.
dividend of only 1 per no real power to only monitor
Class B shares because there is no economic or real power, has always been considered mostly symbolic. However, Macao lawyers said the government's intention to make this case, is to hold 10% of the Macao people can monitor the operation of gambling licenses, There is no power. The shares of SJM will be divided into A, B two types, B category accounted for 10%, A class of 90% equity held by listed companies, the Company completed restructuring, 10% B class shares have been held by the Stanley Ho. For other gambling licenses holders are also similar to A, B share arrangement, most held by a lawyer.
According to statistics, SJM Class B shares is only one patacas dividends, although 10% of the voting rights, but not to block any resolution is passed, there is also no right to vote on any matter of conflict of interest .
Change to cases of compulsory purchase SJM
such as changes in the law holding that they do not force the 10 Limited, Managing Director, SJM shall be forced to repurchase at par and out Class B shares.
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