Macau Legend has announced that David Chow will retire as Co-Chairman of the Board of Directors and as a Non-Executive Director and his wife Melinda Chan will become an Executive Director.
At the annual general meeting of Macau Legend on Tuesday, David Chow announced his retirement as Co-Chairman of the Board of Directors and as a Non-Executive Director, and as such he will no longer be a member of the Remuneration or Nomination Committees of the Board of Directors.
His wife, Melinda Chan, was nominated as an Executive Director and received 99% of the vote and has therefore been appointed as a new Executive Director of Macau Legend.
Li Chu Kwan is now Chairman of the company, with Melinda Chan as CEO and Tsang Ka Hung as an Executive Director.
On August 9, Macau Legend announced that it had sold bonds with a total value of MOP$200 million through the open market and expected to record a loss of approximately MOP$8 million on the transaction. Macau Legend stated that it intends to use the proceeds from the sale of the bonds to finance the Group’s general working capital.
According to an earlier report in IAG, Macau Legend laid off more than 10 employees in the catering department.
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