Hong Kong-listed The 13 Holdings Ltd announced on Wednesday a proposed corporate name change to “South Shore Holdings Ltd”. The company said the reason for the proposed name change is to “provide a clear delineation” between the firm’s corporate identity and that of its principal asset.
The proposed name change for The 13 Holdings is subject to the passing of a special resolution by the shareholders at a special general meeting, and the approval of the registrar of its companies in Bermuda, according to Wednesday’s filing to the Hong Kong Stock Exchange.
The 13 Holdings is developing The 13 Hotel (pictured) on the border between Cotai and Coloane in Macau. Several previous deadlines declared by The 13 Holdings for the opening of the hotel have already been missed. The company is now targeting to launch The 13 Hotel “on or before” April 30, the firm announced in late January.
The project is also to include a casino, according to its promoted. The casino at The 13 Hotel may only open by March 31, 2019, along with some shops at the complex, the firm said in a February 25 filing. The company said it expects to operate a total of 66 tables, of which nearly a quarter will be for VIP play, with the remainder for so-called premium mass.
The 13 Holdings was formerly known as Louis XIII Holdings Ltd. The previous name change had been completed in late April 2016.
In its Wednesday filing, The 13 Holdings said the proposed corporate name change “will not affect any of the rights of the holders of securities of the company or the company’s daily business operation and/or its financial position”.
“There will not be any arrangement for free exchange of the existing certificates of securities of the company for new certificates bearing the company’s new name. Upon the proposed change of company name becoming effective, new certificates of securities of the company will be issued under the company’s new name,” the firm said in its latest filing.
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"The stronger mass growth [in Macau in the second quarter] should be viewed positively vis- à-vis [the] government’s stated priority”
Japanese brokerage Nomura