Shareholder meeting was set to take place on April 27 but has been postponed indefinitely.
Philippines.- Gaming investor Belle Corp has announced the suspension of its annual shareholder’s meeting until further notice.
The meeting was set to take place on April 27, but has been cancelled due to the Covid-19 pandemic.
“Due to the ongoing Covid-19 pandemic, and after carefully weighing all aspects, the board of directors has approved the indefinite postponement of the company’s annual stockholders’ meeting,” Belle Corp said in a filing to the Philippine Stock Exchange.
“Appropriate disclosures to the exchange shall be made as soon as the board of directors has approved the new schedule which will be after the situation has normalised after the enhanced community quarantine shall have been lifted,” the company added.
Belle Corp is entitled to a share of gaming revenues at City of Dreams Manila, a casino complex in the Philippines capital operated by a subsidiary of international casino developer, Melco Resorts and Entertainment Ltd.
Belle Corp saw full-year 2019 consolidated profit drop 9 per cent in year-on-year terms: it reached profits PHP2.92billion (€52.7million), compared to PHP3.23billion (€58million) in 2018.
The Philippines government recently extended the lockdown in the main island of the country, Luzon, until April 30.