Inside Asian Gaming

IAG JAN 2022年1月 亞博匯 10 SUNCITY LISTCO FLAGS POTENTIAL CHANGE OF CONTROL AS LENDER CHASES ALVIN CHAU STAKE 貸方向周焯華發催款函， 太 陽 城 控 股 權 或 生 變 HONG KONG-LISTED Suncity Group, which holds interests in integrated resort developments in Vietnam, the Philippines and Russia, has foreshadowed a possible change of control after lenders demanded full repayment of loans issued to controlling shareholder Alvin Chau. Chau, a former Chairman and director of Suncity Group, stepped down in December after he was arrested and detained without bail by Macau authorities for alleged criminal association, illegal gambling and money laundering. According to a company announcement, Chau’s wholly-owned Star Soul Investments Limited received a letter from Wooco Secretarial Services, acting as agent to a syndicate of lenders, which alleged Chau’s arrest constitutes an event of default under a facility agreement and demanded full repayment of loans plus interest, worth a combined HK$313,610,959 (US$40.2 million), within five business days of 8 December 2021. Failure to pay would see Wooco take legal action with a view to securing repayment by taking ownership of various securities for disposal, including the 4,991,643,335 Suncity shares – representing a controlling 74.85% stake – currently held by Fame Select Ltd. Fame Select is 50% owned by Chau and 50% by Cheng Ting Kong. Suncity said it had no information as to how Wooco will deal with the securities outlined in the event of enforcement but noted, “Enforcement by Wooco of the above securities may lead to a change in control of the Company.” 前任太陽城集團主席 周焯華於去年12月因涉嫌「不法經營賭博、 犯罪集團及清洗黑錢罪」而被澳門當局逮捕及羈押，並不得保 釋，隨後辭去在太陽城集團職位。 根據該公司一份公告，周焯華全資持有的Star Soul Invest- ments Limited已收到銀團代理人Wooco Secretarial Services Limited所發出的一份催款函，稱周的被捕構成融資協議項下違 約事件，並要求借款人於2021年12月8日起計五(5)個營業日內 全數償還該貸款的本金額連同應計利息合共313,610,959港元 （4,020 萬美元）。 如果未能支付，則Wooco將採取法律行動，根據相關抵押 文件行使銷售權時出售或以其他方式處置各項抵押的所有權，包 括以Wooco為受益人押記的太陽4,991,643,335股股份——佔太 陽城最新已發行股本約74.85%。該股份目前由名萃有限公司持 有，由周焯華及鄭丁港各佔50%的股權。 此外Wooco還將尋求由太陽城向名萃發行的4.02億港元零 票息可換股債券可按初步轉換為1,546,153,846股太陽城股份、 周焯華全資擁有的星望有限公司持有的1,770萬港元零票息可換 股債券可轉換為196,666,666股太陽城股份、太陽城執行董事盧 衍溢全資擁有的Better Linkage Limited所持有的1.2億元零票息 可換股債券可轉換為轉換133,333,333股太陽城股份。 太陽城表示，其未得知Wooco將如何處置上述抵押，但一 旦Wooco強制執行抵押，「可能會導致太陽城控制權變動」。