I’m leaving the hands of the Lim family with a 27% stake in Donaco

Shares previously controlled by members of the Lim family, a Malaysian business dynasty that has a 27.25% stake in boutique Asian casino operator Donaco International Inc, are now in the hands of others, according to a filing with the Australian Stock Exchange (ASX).

Donaco became aware of the move in a filing on Monday, saying it could be considered a “change of control” under the terms of the loan agreement by Taiwan Mega International Commercial Bank Limited, the lender to Donaco.

“If so, loans may mature and be paid earlier than currently scheduled repayment dates,” Donaco said in a stock exchange update on Monday.

Donako added, “The company will discuss the matter with Megabank and keep the market updated on all developments.” The company operates casinos on the border between Cambodia and Thailand, and casinos on the border between Vietnam and China. In both cases, it takes advantage of a ban on domestic casinos in neighboring jurisdictions.

In mid-December, Donaco told ASX it was considering what to do about the $39.9 million megabank debt it secured against assets at Star Vegas Resort and Club (pictured) in Poipet, Cambodia.

Vincent Pirina and Mitchell Mansfield were named Donaco’s “co- and multiple recipients of approximately 224 million shares,” according to a filing on Monday. The stock was “previously controlled by the Lim family.”

The document said Madison Pacific Trust Ltd appointed recipients “under certain financing agreements with companies controlled by Mr Joey Lim” as security trustees of OL Master (Singapore Fund 1) Pte Ltd.

In December, Donaco announced that its managing director and CEO, Joey Lim Keong Yew, had received a three-month leave of absence for health and other reasons. His brother, non-executive director Ben Lim Keong Hoe, was taking his place.

BY: 카지노

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