Macau (MNA) – Summit Ascent Holdings Limited has appointed Andrew Lo Kai Bong as a non-executive director, according to a press release on the Hong Kong stock Exchange (HKEX).
The new appointment took effect on December 12, with Mr. Lo previously an executive director and chief investment officer of junket group Suncity Group Holdings Limited.
According to the filing, Suncity currently holds 3.29 per cent of the issued share capital of Summit Ascent.
Mr/ Lo’s appointment will reach its term on December 11, 2021, after which it will be automatically renewed for consecutive term(s) of three years.
He will not be entitled to any director’s fee for acting as a Non-executive Director but he will be reimbursed for all reasonable out-of-pocket expenses incurred in discharging his duties, Summit added.
Summit Ascent operates the casino-resort Tigre de Cristal in the Integrated Entertainment Zone of the Primorye Region near Vladivostok in Russia.