In a filing to the Hong Kong bourse late on Thursday, SJM said a 31.655 percent interest in Sociedade de Turismo e Diversoes de Macau S.A.R.L. (STDM) was held by Lanceford, a holding company owned by the Ho family. Of the 31.655 percent stake in STDM, 25.538 percent was owned by members of Ho's families, while Angela Leong, a director and one of Ho's wives, would own 6 percent and Ho himself would only hold 0.117 percent, the statement said.
It gave no further breakdown of the families' stakes.
STDM also holds 55.7 percent of SJM.
Shares of SJM were up by as much as 3.33 percent in early trade on Friday, outperforming the Hang Seng index's 0.9 percent rise.
SJM shares have risen 3.1 percent so far this week, compared with 2.8 percent gain in the broader market .
"The company remains of the view that the deed of settlement on Lanceford's holding in STDM has no effect on the company and there will be no change in management or strategic direction of the company," Chief Executive So Shu Fai said in the statement.
In January, the 89-year old tycoon sought to sue members of his family for issuing new shares in Lanceford -- the main holding company for his interest in SJM -- without his consent, effectively diluting his stake to nothing. Ho said two weeks ago that the dispute with factions of his families, which include four wives and 17 known children, over control of the multi-billion-dollar empire had been fully resolved. (Reporting by Donny Kwok; Editing by Chris Lewis)
| < Prev | Next > |
|---|
Copyright © 2024 ToCasino.net Online Casino. All Rights Reserved. Designed by