Asian casino operator Donaco International is asking the Australian government transition team to ban two minority shareholders from "acquiring, transferring and disposing" of the group\'s shares. 토토사이트
Gerald Tan Engho and Patrick Tantech have been asking since August to hold a general meeting of Donaco shareholders to remove all of their current directors.
The company eventually deemed the request "invalid," but Donaco said it would still present a motion to dismiss it for a vote at its next annual general meeting on Nov. 29. It said this was in response to a request from Wonnut Road Inc., a 19.25% shareholder, to clear the tone on the matter. However, Onnut Road has made it clear that it currently supports the board.
In a filing on Monday, Donaco was able to obtain a letter from the transition team about its request to freeze Gerald Tan and Patrick Tan\'s stake. The filing said Donaco considered the two and "specific" (unnamed) "others" to be "relevant to the composition of the board of directors and why they are developing a plan for the purpose of controlling or influencing Donaco\'s performance." The Australian-listed company said this was in violation of the country\'s rules, according to the transition team\'s letter.
A previous filing from Donaco read, "Gerald Tan is a close colleague and business colleague," from former company CEO Joey Lim Keong You. Joey Lim was also a substantial shareholder of Donaco until recently.
"Donaco seeks interim orders including prohibiting [Gerald Tan and Patrick Tan] and their colleagues from acquiring, transferring, or disposing of Donaco shares," the Takeover Panel\'s filing added. "Donaco seeks final orders including investing in the Australian Securities and Investment Commission to sell Donaco shares held by [Gerald Tan and Patrick Tan] and their colleagues."
The transition committee said the sitting panel in the Donaco case "has not been appointed at this stage and no decision has been made on whether to proceed with the lawsuit."
The group added that it would not comment on the merits of Donaco\'s application.
Donaco, which operates a casino hotel in Vietnam and operates a casino hotel in Poipet, Cambodia, has recently been in a row due to a number of problems. Those problems included a long-standing dispute with Thais who sold the rights to run the Star Vegas resort and club in Puipet to the group, and a long-term vacation by then-CEO Joey Lim, which was explained for health reasons.
In March, Joey Lim was removed as CEO, and in July, he and his brother, Ben Lim Keong Ho, were removed from Donaco\'s board of directors.