South Shore Holdings Limited, owner and operator of embattled Macau hotel THE 13, will convene a mandatory Special General Meeting next month after a substantial shareholder requested a vote on winding up the company.
In a Wednesday filing, South Shore revealed that it had received a letter from Global Allocation Fund, which holds 101,339,084 shares in the company representing a 10% stake, last month requesting the SGM for the purpose of considering the winding up resolution.
The reasons given by Global Allocation Fund were, according to South Shore, the net liabilities position of the Group, the suspension of operations of the Hotel and the poor performance of the Hotel generally.
It added that, The Requisitionist expresses its belie…
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