Landing International Development Ltd says the company will continue to be majority owned by its Chairman, Yang Zhihui, after being notified by receivers that they had been released from receivership.
The news relates to a November notice that liquidators had filed two disclosures of interest in 1,481,567,297 ordinary shares in the company – comprising 50.48% of issued share capital – held by Landing International Ltd (LIL), which is wholly-owned by Yang.
The disclosures were filed under Part XV of Hong Kong’s Securities and Futures Ordinance by two individuals named in the capacity of receivers as Glen Ho Kwok Leung and Derek Lai Kar Yan, who are listed elsewhere as employees of audit firm Deloitte Touche Tohmatsu LLC.
At the time, Yang denied any knowledge of their appointment and promised to protect his interests. Landing said last week that the company had received a notification from the receivers of the relevant shares stating that they have now been discharged and released from the receivership.
“Mr. Yang, who is the sole shareholder of LIL and the Executive Director and Chairman of the Company, has confirmed that there is no change in the ownership of LIL or in LIL’s shareholding in the Company at the date of this announcement,” it said. “No bona fide offer has been communicated to the Board and the Board has no reason to believe that a bona fide offer may be imminent.”
Landing owns and operates Korea’s Jeju Shinhwa World.
RelatedPosts
