Hong Kong-listed gaming company Landing International Development, in the headlines since majority shareholder Yang Zhihui went missing, has announced the appointment of two new executive directors. One of them is Yang’s wife, Xu Ning.
Yang reportedly was detained by Cambodian authorities because of his association with China’s state-owned Huarong International Financial Holdings Ltd., whose former head is being investigated in a graft probe. Inside Asian Gaming reports that Yang was returned to China following his detention.
Xu is said to have an interest in about 1.48 billion shares of Landing International. The shares are held by a company wholly-owned by Yang and represent almost 51 percent of the company’s issued share capital.
Xu previously served as an executive director of the firm from 2013 to 2016. She will be paid an annual director’s fee of HKD4.8 million (US$611,496).
The other newly-appointed executive director is Chan Mee Sze, most recently an executive director at Hong Kong-listed asset management firm OCI International Holdings Ltd.
Both appointments took effect September 1.
