South Korea operator sets capital reorganisation

Landing International Development Ltd’s reorganisation petition took effect this week.

South Korea.- The Jeju Shinhwa World casino resort’s operator, Landing International Development Ltd., announced last Wednesday that its restructuring plan for its financial development has taken effect this week. The capital reorganisation was notified to the Hong Kong Stock Exchange yesterday.

Earlier this week, Landing International Development Ltd.’s shareholders approved a 50-into-one share consolidation and capital reduction. The company had previously revealed to the Hong Kong Stock Exchange that “99.8 per cent of votes from shareholders at a special general meeting were in favour of the change.”

In Landing International Development’s statement to the HKEX on May 29th, it said: “Greater participation by such investors, especially those with longer investment horizons, is likely to reduce the volatility of the company’s share price.”

The Landing Convention Centre saw on March the celebration of the grand opening of Jeju Shinhwa World. The event hosted by Dr Yang Zhihui, chairman and executive director of Landing International, comes a month after the grand opening.