Summit Ascent Holdings Ltd, an investor in the Tigre de Cristal casino resort (pictured), at Primorye near the Russian Pacific port of Vladivostok, has appointed one new executive director and three independent non-executive directors.
The Hong Kong-listed firm said in a Wednesday filing that it had appointed Lam Hung Tuan as an executive director.
Mr Lam, aged 47, was also this week named as an executive director of LET Group Holdings Ltd, the parent of Summit Ascent. He is currently the chief technology officer of Suntrust Resort Holdings Inc, a subsidiary of LET Group developing the “main hotel casino” at Westside City in the Philippine capital Manila.
Summit Ascent also appointed three independent non-executive directors. They are Lau Yau Cheung, who will also served as a member and the chairman of the firm’s nomination committee; Li Chak Hung, who has been named as chairman of the group’s audit committee; and Christine Ng Shin Kwan, who will chair respectively the remuneration committee, and the corporate governance committee.
Additionally, Mak Sin Man has been named company secretary of Summit Ascent, to serve as an authorised representative of the firm.
Summit Ascent had already declared itself non-compliant with Hong Kong Stock Exchange listing rules, after all but one of the company’s six then-serving directors had resigned in January last year.
Trading in the shares of the company “will remain suspended until the company has met all resumption guidance … remedied the issues causing its trading suspension, and fully complied with the listing rules to the satisfaction of the [Hong Kong] Stock Exchange,” reiterated Wednesday’s filing.
Summit Ascent has been running gaming and hotel operations at Tigre de Cristal near Vladivostok on Russia’s Pacific coast.
LET Group has not given any recent updates regarding the plan to sell the group’s casino operations in Russia. Shareholders of LET Group approved in August last year a proposal to dispose of the group’s investment in the Tigre de Cristal complex.
