Appoints New Directors
Sydney, Aug 4, 2020 AEST (ABN Newswire) - Donaco International Limited (
ASX:DNA) (UGS:FRA) is pleased to announce the appointment of Mr Lee Bug Huy (aka Techatut Sukcharoenkraisri) and Mr Paul Porntat Amatavivadhana as non-executive directors to the Board of the Company effective from 3 August 2020, being the date of completion of the underwriting agreement in respect of the Company's entitlement offer which was announced by the Company on 3 July 2020 (Entitlement Offer).
In connection with recent announcements made by the Company, the Company has now completed the Entitlement Offer and associated underwrite, and the appointments of Mr Huy and Mr Amatavivadhana to the board are being made in accordance with the terms of the underwriting agreement related to the Entitlement Offer.
Mr Amatavivadhana is a founding principal and CEO of Infinite Capital, a successful boutique corporate advisory firm based in Bangkok. He has considerable experience in mergers & acquisitions, corporate restructuring and capital raisings. Mr Amatavivadhana is currently an independent director at Sansiri Plc, one of the largest real estate developers in Thailand, which is listed on the Stock Exchange of Thailand. Mr Amatavivadhana has also previously acted as non-executive director of the Company (previously appointed 1 July 2015). Mr Amatavivadhana holds a MSc in Management Science and a BA in Finance and Banking.
Mr Huy is Vice President at the Casino at Star Vegas Casino & Resorts Co, Ltd where he has been responsible for developing the model for the slot machine business. He has significant experience in gaming and casino management and has previously acted as an executive director of the Company (previously appointed on 1 July 2015). Mr Huy holds a BSc majoring in Chemical Engineering.
The Board welcomes Mr Huy and Mr Amatavivadhana to the Board and looks forward to working with both of them.
About Donaco International Ltd
Donaco International Limited (ASX:DNA) operates leisure, entertainment and associated technology businesses across the Asia Pacific region.
Donaco's largest business is the Star Vegas Resort & Club, a successful casino and hotel complex in Poipet, Cambodia, on the border with Thailand. Star Vegas was established in 1999, and is the largest and highest quality of the Poipet casino hotels. The property has more than 100 gaming tables, more than 1400 slot machines, and 385 hotel rooms.
Donaco's flagship business is the Aristo International Hotel, a successful boutique casino in northern Vietnam, located on the border with Yunnan Province, China. Established in 2002, the property has recently been expanded to a brand new five star resort complex with 400 hotel rooms. Donaco is a pioneer casino operator in Vietnam, and owns a 95% interest in the business, in a joint venture with the Government of Vietnam.
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