What’s it with casino dynasties needing to determine they’re reduce from completely different fabric to their very own relations?
Melco’s Laurence Ho has nothing to do along with his father Stanley, Bruce Mathieson‘s pokie-owning sons-in-laws aren’t his associated events for the aim of counting pokies licences, and now, Ben Lim, grandson of Genting founder Lim Goh Tong, says he is nothing like his brother Joey.
Vocus founder James Spenceley is making an attempt to oust the Lims from the board of ASX casino minnow Donaco (regardless of already chairing one other troubled ASX-listed casino minnow). Joey Lim was till lately Donaco’s CEO and main shareholder, however he was fired and misplaced management of 27 per cent of the corporate after utilizing it as collateral for a mortgage from a hedge fund. Ben Lim served as his brother’s alternative till this week, and is one in every of two administrators Spenceley is making an attempt as well.
Joey Lim did not reply to the EGM request. However his brother has urged shareholders to not tar him with the identical brush.
“My administration follow is actually not the identical as Joey Lim’s and I completely encourage transparency and powerful governance,” he advised shareholders.
The remainder of the board is not shopping for it, telling shareholders it really useful voting the each of them off. If the June 18 EGM is not profitable, they’re in for some very awkward board conferences.