Two board members with reduced stakes in SJM Holdings

Sep 24, 2020 Newsdesk Latest News, Macau, Top of the deck  

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Two directors of Macau casino operator SJM Holdings Ltd, Timothy Fok Tsun Ting and Louis Ng Chi Sing, have seen their respective stakes in the firm reduced earlier this month, although for different reasons, according to disclosure records filed to the Hong Kong Stock Exchange.

Timothy Fok – a co-chairman and executive director at SJM Holdings – did not exercise the right to an aggregate of 3.0 million shares in the firm, according to a September 17 disclosure. It resulted in his shareholding in the company falling to 0.11 percent from 0.16 percent, showed the data.

Mr Fok heads the Henry Fok Foundation, which owns a 26.576 percent stake in Sociedade de Turismo e Diversões de Macau SA (STDM) – the entity that is the controlling shareholder of SJM Holdings.

Separately, Louis Ng, a non-executive director at SJM Holdings, sold an additional 30 million shares of SJM Holdings on September 2, an exercise done at HKD10.48 (US$1.35) per share on average. Following the transaction, Mr Ng still held a stake of 1.47 percent in SJM Holdings, down from 2.0 percent, according to the latest disclosure.

Prior to the September 2 share disposal, Mr Ng had already reduced his holdings in SJM Holdings in two tranches in August – the first on August 12 – for an aggregate consideration of HKD367.76 million. He had ceased to act as SJM Holdings’ chief operating officer (COO) and authorised representative of the company as of June 10 this year, but retains a non-executive directorship in the firm.

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