LET Group Holdings is facing challenges after two independent non-executive directors resigned, resulting in non-compliance with Hong Kong Stock Exchange (HKEX) rules.
According to a filing on Tuesday, Tou Kin Chuen and Lo Wai Tung John have resigned as independent non-executive directors, effective 5th November 2024. They stated that they felt ‘unable to make a meaningful contribution’ toward helping the company resume the trading of its shares on the Main Board of the Stock Exchange of Hong Kong Limited.
This marks the second time these directors have resigned from the board.
In May of this year, two individuals who had resigned in January as independent non-executive directors—amid a mass exodus from the board—returned as non-executive directors.
Their initial resignation was prompted by their “disapproval” of a decision by a company associated with LET Group to sell its stake in a Russian casino license.
Tou Kin Chuen had served on the board since April 2012, while Lo Wai Tung John had been a director since October 2012.
The company is actively seeking candidates to fill these critical roles to restore compliance and resume trading activities. Meanwhile, the board committees have been left with minimal representation, increasing the urgency for swift appointments.
The firm’s stock remains suspended from the Hong Kong Stock Exchange.
