Backdoor Flotation <\/strong><\/h2>\nThe deal with Asiabest could ultimately lead to the backdoor flotation of Tiger — essentially the Okada Manila — on the PSE.<\/p>\n
But Okada believes the deal should not be permitted to go through. He warned the PSE that he will file appropriate criminal, civil and administrative cases against those involved in any proposed flotation. He has already filed suit against Tiger Resort, its directors, and corporate officers on August 29, he added.<\/p>\n
In a PSE filing on Wednesday, Asiabest Group said it had \u201cno knowledge, or means to verify the existence, truth, and veracity of the allegations\u201d made by Okada.<\/p>\n
\u201cAsiabest Group can inform [the] Philippine Stock Exchange, however, that [its] shareholders were presented with documents showing that the transaction was duly authorised by Tiger Resort Asia\u2026 and that the shareholders relied on the presumption of regularity of such documents.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Jilted Japanese billionaire Kazuo Okada is on the warpath over the proposed acquisition of Philippine-listed investment company Asiabest Group by Tiger Resort, the operator of the Okada Manila integrated resort. Okada has written to the Philippine Stock Exchange (PSE) to complain that he owns 34.41 percent of Tiger Resort but was not consulted about the […]<\/p>\n","protected":false},"author":36,"featured_media":88646,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,10,60],"tags":[],"acf":[],"yoast_head":"\n
Kazuo Okada Fury Over Tiger Resort Takeover of Asiabest Group<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n