The appointment has been approved by Macau’s chief executive.
Macau.- Daisy Ho Chiu Fung has been appointed managing director of SJM Resorts, S.A. The appointment has been approved by Macau’s chief executive.
According to the company, Daisy Ho has been granted expanded management rights and authority. She will now be responsible for all formal business dealings and contacts with the Macau SAR Government, as well as with company subsidiaries and other entities.
Ho will be responsible for overseeing the day-to-day operations of the company and corporate matters including the formulation of policies, objectives, investment plans and compliance with legal and regulatory obligations. Ho was elected to SJM’s board of directors in March 2019. She is also an executive director of the holding company SJM Holdings Limited and was appointed as chairman in 2018.
SJM directors apply for excess rights shares
Several directors of SJM Holdings Ltd applied for excess rights shares in a rights issue through which SJM proposed to raise up to HK$2.9bn. The issue offered one rights share for every four existing shares held on August 29 at a subscription price of HK$2.08 per share.
On September 14, Angela Leong On Kei, co-chairman and executive director of SJM Holdings, subscribed and paid for the 114,587,500 warrants that SJM Holdings temporarily allotted to her. On the same day, she applied for an over-allotment of 38m shares.
This cost Leong On Kei a total of HK$317.88m. Her long position in the company increased from 8.49 per cent to 9.02 per cent. On the same day, Ambrose So Shu Fai, vice chairman, executive director and chief executive officer of SJM Holdings, subscribed and paid for 30,831,980 warrants allotted to him and applied for an over-allotment of just over 30m shares.
The exercise cost the CEO HK$126.53m. His long position in the company rose from 2.66 per cent to 3.09 per cent. He had previously reduced his stake in the company from 3.31 per cent to 2.79 per cent in August.