Stanley Ho Hung Sun’s family seized his stake in STDM, the parent company of SJM Holdings, without his consent, his lawyer says. Now, Mr Ho is looking at taking legal action against his family, his lawyer Gordon Oldham, the senior partner of Oldham, Li & Nie, told South China Morning Post. Meanwhile, SJM Holdings suspended trading this morning pending the release of an announcement. Yesterday, SJM Holdings announced Mr Ho had transferred his 32 percent stake in STDM to family-run firms Action Winner Holdings Ltd and Ranillo Investments Ltd. Action Winner Holdings Ltd is 100 percent owned by Mr Ho’s third wife, Ina Chan Un-chan, while Ranillo Investments Ltd. is owned by Mr Ho’s five children to his second wife, Lucina Laam: Pansy, Daisy, Maisy, Josie and Lawrence. Brunswick Group, representing some of the family members, said today that Mr Ho provided written authorization of the share transfer. According to SJM Holdings, Mr Ho had only retained 100 ordinary shares in STDM. Mr Ho was STDM’s largest shareholder.
—
