Suncity Group gets go-ahead to change name LET Group Holdings
Suncity Group Holdings has won shareholder approval to change its name to LET Group Holdings Ltd.
Macau.- Suncity Group Holdings Limited has received shareholder approval to change its name to LET Group Holdings Limited. It held an extraordinary general meeting for a vote on the matter yesterday (August 15)
According to the company, all shareholders in attendance voted in favour of the name change The board of directors says the new name will better reflect the group’s strategic business plan and intended future direction with a focus on tourism-related business. The name change still needs to be approved by the Cayman Islands, where the company is registered.
In a previous filing, the company stated: “The new name can bring a new atmosphere to the company’s corporate image and identity, which will help the company better capture potential business opportunities and benefit the future development of the group.
“Accordingly, the board considers that the proposed change of company name is in the best interests of the company and the shareholders as a whole.”
Summit shares not subject to mandatory bid from Suncity Group
In July, it was reported that Suncity Group Holdings was going to make an unconditional, mandatory cash offer for up to 25 per cent of Summit Ascent Holdings that it does not already hold. Summit Ascent Holdings later clarified that Suncity Group Holdings “is not required to make a chain principle general offer for the shares and other securities of the company.”
Suncity Group Holdings owns approximately 69.67 per cent of the issued share capital of Summit Ascent. The company has interests in the Hoiana integrated resort in Vietnam while Summit Ascent is responsible for operating the Tigre de Cristal integrated resort in Vladivostok, Russia.
