A Tuesday filing said that Melinda Chan Mei Yi – sitting CEO of Macau Legend, as well as being the spouse of fellow company-figurehead, David Chow Kam Fai – was stepping down, but would remain an executive director.

The board rejig follows confirmation in late November that interests controlled by Tak Chun boss had upped interest in Macau Legend to 33.19%. That was after the closure of a HKD809.8 million compulsory offer for shares of Macau Legend under Hong Kong’s Takeovers Code.

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As had been flagged before the offer, a Tuesday filing to the Hong Kong bourse confirmed that following the exercise, Mr Chan, chief executive of junket firm Tak Chun Group; and Tsang Ka Hung, CFO of Tak Chun, join the Macau Legend board.

Macau Legend runs three casinos in Macau under a so-called services agreement with Macau licensee SJM Holdings Ltd. Macau Legend also has a tourism complex called Macau Fishermans Wharf, a waterfront area close to the Outer Harbour Ferry Terminal on Macau peninsula.

The cash consideration was based on valid acceptances in respect of just over 771.2 million offer shares at HKD1.05 per unit, representing 12.44 percent of the total issued share capital of Macau Legend.

David Chow Kam Fai, an executive director and the co-chairman of the board and one of Macau Legend’s founders, has been redesignated as a non-executive director, following the closure of the offer, but remains as co-chairman of the board.

Editing by Rachel Hu

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