How the saga unfolded | South China Morning Post
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  • Mar 31, 2015
  • Updated: 5:57pm

How the saga unfolded

PUBLISHED : Thursday, 27 January, 2011, 12:00am
UPDATED : Thursday, 27 January, 2011, 12:00am
 

July 2009 Stanley Ho suffers a fall at home, leading to surgery to remove a blood clot from his brain and a long spell in hospital. Over the next 18 months, family members repeatedly say Ho is recovering, but he makes just two public appearances.

November 9, 2009 Lanceford, the company that represents the bulk of Ho's personal wealth, adds Ho's daughters, Pansy and Daisy, to the board, joining their mother, Ho's second wife, Lucina Laam King-ying, Ho himself and his long-time lieutenant, banker Patrick Huen Wing-ming. The document adding the daughters is signed by Laam.

December 20, 2009 Ho makes his first appearance since his illness, at a ceremony for the 10th anniversary of Macau's handover, where he meets President Hu Jintao .

December 3, 2010 Shun Tak clarifies that Ho has transferred his 11.55 per cent stake in the company, worth HK$1.27 billion at the time, to Hanika Realty, a firm controlled by Laam and their five children. The transfer 'will have no impact on the company's overall development direction and management style', Shun Tak says, adding that Ho 'will remain leader of the Ho family's controlling stake in the company'. Hanika becomes Shun Tak's biggest single shareholder, with an 18.4 per cent stake.

December 15 Regulatory filings reveal Ho has transferred his entire direct 7 per cent stake in SJM Holdings, worth around HK$4.8 billion, to his fourth wife, Angela Leong On-kei.

December 23 Lanceford changes its corporate secretary and the location of its registered filings - including minutes of board meetings - to the offices of law firm King & Wood.

December 27 Lanceford allots 9,998 new shares, representing 99.98 per cent of its enlarged share capital, to two British Virgin Islands companies - Action Winner Holdings and Ranillo Investments. Action Winner is wholly owned by Ho's third wife, Ina Chan Un Chan (also known as Chan Yuen-chun), and now controls 50.55 per cent of Lanceford. Ranillo owns the remainder. Ho and Laam's five children - Pansy, Daisy, Maisy, Lawrence and Josie - each own 20 per cent of Ranillo. The document authorising the allotment is signed by Daisy, a Lanceford director.

Late December Ho steps down from SJM Holdings' licensed Macau gaming subsidiary SJM. Angela Leong is appointed managing director.

January 5, 2011 Ho writes to Daisy, saying the allotment of Lanceford shares was done 'without my consent or knowledge' and that the move went against his wishes. Ho demands a meeting with Daisy and transfer of the share certificates to be divided equally between his wives' families.

January 7 Daisy replies, stating that the Lanceford share allocation 'was done in accordance with your instructions'. Ho's signature appears at the bottom of this letter, reaffirming instructions to give the shares to Ho's second and third wives.

January 7 Lawyer Gordon Oldham offers an interview with Ho to the South China Morning Post, but the interview falls through.

January 8 Another interview is scheduled, over dinner at Robuchon in Central, but falls through.

January 21 Ho instructs Oldham, to 'vigorously pursue and protect' Ho's interests.

January 24 SJM is suspended from trading pending a 'price-sensitive' announcement. The Post reveals the dispute over Lanceford.

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