GGRAsia – Silver Heritage chairman steps down: filing

Silver Heritage chairman steps down: filing

Oct 17, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck, World

James Spenceley (pictured), chairman of Australia-listed casino operator Silver Heritage Group Ltd, is stepping down from the position, according to a Thursday filing. Mr Spenceley was also a non-executive director of the company and his resignation is effective immediately, said the statement.

On Thursday, Silver Heritage announced also the resignation of Michael Bassett as non-executive director of the company.

“Mr Spenceley and Mr Bassett are stepping down as directors in order to focus on other business interests and the company thanks them for their commitment and efforts during their directorships,” said Silver Heritage in the announcement to the Australian Securities Exchange.

The company said it was currently in the process of appointing a non-executive director “to comply with its obligations”.

Mr Spenceley was appointed in May last year as non-executive chairman and director of Silver Heritage.

Mr Spenceley and entities linked to him were in June this year on record as controlling circa 4.68 percent of another Australia-listed Asian regional casino operator, Donaco International Ltd. The investor was involved in an action to reshuffle the board of Donaco, which included removing that company’s founder and former chief executive.

Mr Spenceley was quoted at the time by the Australian Financial Review newspaper as saying the exit of Joey Lim Keong and his brother from the Donaco board needed “to happen for the company to get back on investor watch lists”.