Macau Legend Development has completed a change of domicile from the Cayman Islands to Bermuda and approved a series of governance and capital structure changes aimed at creating an accounting surplus to offset accumulated losses, the company said in a filing.
The Hong Kong–listed casino and hotel operator said the redomiciliation took effect on December 19th, 2025, with the company de-registered in the Cayman Islands and continuing in Bermuda as an exempted company. As part of the move, the company updated its registered office to Canon’s Court in Hamilton, Bermuda, and appointed Appleby Global Corporate Services (Bermuda) Ltd. as its principal share registrar and transfer office, while Computershare Hong Kong Investor Services remains the branch registrar in Hong Kong.
Concurrently, shareholders approved new constitutional documents, including a new memorandum of continuance and bye-laws, which took effect upon completion of the domicile change. The company also approved the cancellation of its share premium account, with the entire balance transferred to a contributed surplus account under the Bermuda Companies Act.
Building on this, Macau Legend said it will implement a capital reorganization effective December 29th, 2025, subject to remaining conditions. The restructuring includes a reduction of the par value of issued shares from HK$1.00 ($0.13) to HK$0.01 ($0.0013) and a subdivision of authorized but unissued shares on the same basis. The credit arising from the capital reduction will be transferred to the contributed surplus account and applied to offset accumulated losses, as permitted under Bermuda law and the company’s new bye-laws.
The company noted that key conditions for the capital reorganization—including shareholder approval at an extraordinary general meeting and the effectiveness of the domicile change—have already been satisfied. Directors also confirmed that, on the effective date, there were no reasonable grounds to believe the company would be unable to meet its liabilities as they come due.
