Around The Name Kadzuo Okada And Tiger Resort Asia Limited Does Not Fuss The Excitement
Minority shareholder asiabest group international, inc. (abg), which was acquired in september last year by tiger resort asia limited (tral), trying to stop the proceedings about the assuner to filipino stock exchange (pse).
Carnell valdez, who owns 1000 abg shares, filed a complaint to the commission on securities and exchange philippines (sec), seeking to stop filing applications for the current tender tal. The proposal concerned the acquisition of the remaining shares in state ownership. The tender offer has become valid november 12. It wood planned that his action would end on december 12, and the trading will be completed on december 14.
Waldes said that the company had to disclose information on the current ownership and dispute in the subsidiary of tral tiger resort, leisure and entertinment, inc. (trlei), which is the okada manila operator.
Tral belongs to okada holdings, ltd. (ohl) and universal entertainment corporation (uec), the shares of which owns kadzuo okada.
Okada argues that he was illegally removed from the post of chairman, the director general of trlei. He also spoke out against the acquisition of tral abg, according to which he did not consult with him.
In a separate statement, valdez added that issues related to okarova, «probably affect the decision of abg shareholders and potential investors», and that continued tender «can lead to serious and irreparable damage for abg, its shareholders and the public».
As the defendants in the complaint an agent for the tender proposals first resources management and securities corp., pse and abg.
Previously, abg explained that it would not be mentioned about the trial associated with the would be a violation of the rules for mayfect the outome of the case.
Recall that in the second quarter of 2018, sales of the okada manila casino on the philippines increased by 30.2% – up to 12.74 billion japanese yen ($ 114.9 million) in comparison with 8.9 billion yen in the previous quarter.