DNA donaco international limited

Ann: Director Resignation, page-192

  1. 7,604 Posts.
    lightbulb Created with Sketch. 2310
    That's a good point regarding an EGM and Somboon being unable to vote his shares in the event of a sale to him. In terms of ASM, you'd hope that they only want to profit via there holding in DNA, but we have been dissapointed before. Although I did not like the thought of Stuart and Ben continuing, I at least felt like any benefit from settlements would flow through to DNA. Tradie brought up the point about 'leakage', maybe you'd say it was paranoid, but there is a lot of money at stake here potentially for the Somboon family.

    I'm not sure about the management contract, frankly why would ASM give up 1/3 of the earnings when they already have a a new CEO and Slots manager etc in place? Additionally, they paid a price reflective of the current profitability. Surely they would just sell it outright to Somboon Associates if they did a deal with them, imagine giving Somboon 1/3 and suddenly business picks up because he diverts business from his other casinos to Star Vegas to meet targets, thus getting 1/3 of Star Vegas and cancelling out his lost personal earnings at the other casinos. Sorry, but It doesn't make much sense Htran.
    Last edited by JoeGambler: 01/12/19
 
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