Donaco International Ltd Stock Market Press Releases and Company Profile
Completion of Star Vegas Transaction
Completion of Star Vegas Transaction

Sydney, July 1, 2015 AEST (ABN Newswire) - Donaco International Limited (googlechartASX:DNA) is pleased to confirm that its acquisition of the business of the Star Vegas Resort & Club in Poipet, Cambodia (the Transaction) was successfully completed today, 1 July 2015.

The Company now has ownership and control of the Star Vegas business.

Working Capital Facility

The Company has also signed binding agreements for the USD20 million working capital facility, in accordance with the proposed terms announced on 23 June 2015.

The Company has also agreed to issue warrants over a total of USD7m worth of shares in the Company to the lender under the working capital facility. The warrants are effectively options to subscribe for new shares in the Company. The exercise price of the warrants will be based on the volume weighted average price over the 20 trading days prior to the drawdown date under the facility, which is expected to be 9 July 2015.

If the warrants are exercised in full, the warrant holder will be required to contribute USD7m in cash to the Company. The number of shares to be issued will be fixed on the drawdown date. At the current volume weighted average price, and USD:AUD exchange rate, the total number of shares to be issued would be less than 1.5% of the Company's issued capital base.

The Company can choose to cash settle the warrants on exercise. If the Company chooses to cash settle, then no new shares will be issued to the warrant holder.

About Donaco International Ltd

Donaco International Limited (ASX:DNA)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.

https://www.facebook.com/AristoInternationalHotelOffical https://www.linkedin.com/company/donaco-international-ltd abnnewswire.com 


Contact

Donaco International Limited
Ben Reichel, Executive Director
T: +61-412-060-281
F: +61-2-9017-7001
WWW: www.donacointernational.com



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 4) (Last 30 Days: 20) (Since Published: 5825)