Ann: Change in substantial holding, page-28

Change in control could be a positive catalyst. New board members and CEO could be exactly what is needed to drive performance improvements. This is pretty hopeful though!

Like you say, the Lim stake in DNA is all they have to show for a margin loan gone sour, and they have also purchased a further 9.3% stake at thier own expense.

It seems logical that with the current share price well below the value of the orginal loan (significantly below), plus the additional stake of 9.3%, that OCP will look to improve the value of DNA as a means to recover and even profit from this situation.

If OCP had simply come onto the register via the repossesion of the Lim's shares, then perhaps you could argue that OCP would want a quick deal to recover the principle.

There could also be a combination of asset sales and continued Aus listing, although I think a major change would require a EGM. Such as the outright sale of Aristo or Star Vegas. This would be a big negative if it's a fire sale price. 

HOwever, there is also some track record of OCP with regard to SVH, another SE Asian casino stock in the toliet. OCP is involved with this company on what seems like a long term basis, bonds/equity, and is seemingly happy with the stock listing in Aus after participating in the recapitalisation.

Perhaps the Megabank refinance will not go ahead now, if it was going to, and OCP will refinance the US31m loan oustanding. 

Naturally all this fits my bias to DNA contined to being listed long term and me hanging around for litigation to end and business to stabalise. Which might not happen on both counts.

The repo of Lim brothers shares is another incredible developement. I thought the mafia at Aristo was extraordinary, but the news just keeps on comming.

That being said, it will likely remain listed and worst case scenario is probably a dillutive recap. This would probably only happen in the event of loss of star Vegas lease as the business is still quite solvent (excluding the oustanding vendor payment). And even more so if principle repayments are reduced.