GGRAsia – MGM China names Shanghai lawyer as non-exec director

MGM China names Shanghai lawyer as non-exec director

Dec 10, 2019 Newsdesk Latest News, Macau, Top of the deck

Macau-based casino operator MGM China Holdings Ltd has appointed Simon Meng as an independent non-executive director, effective Monday. He was also appointed as a member of the firm’s audit committee.

The announcement was made on a filing to the Hong Kong Stock Exchange also on Monday. MGM China added that, following Mr Meng’s appointment, it again became “fully” compliant with the requirements of the Hong Kong Stock Exchange regarding respectively the minimum mandatory proportion of independent non-executive directors in the board of a listed company, and regarding the regulatory requirement for a majority of the audit committee members to be independent non-executive directors.

MGM China had become non-compliant regarding both requirements following the death in March of Peter Wong Man Kong, one of its independent non-executive directors.

In its filing on Monday, MGM China said that Mr Meng, aged 61, was currently a corporate merger and acquisitions partner at law firm Linklaters in Shanghai, mainland China, “specialising in cross-border mergers and acquisitions, direct investments and joint ventures in China”.

The firm added that Mr Meng had previously practised law in France, the United States and Hong Kong.

MGM China stated that Mr Meng entered into a letter of appointment with the company for a term of three years. He will be entitled to an annual director’s fee of US$90,000.

MGM China runs two gaming establishments in Macau: the MGM Cotai casino resort and MGM Macau casino hotel. The company is a subsidiary of U.S.-based MGM Resorts International.