Silver Heritage chairman David Green resigns from board

David Green, the chairman and non-executive director of Australia-listed Silver H⛄eritage Group has resigned from the board of the company with immediate effect, by the company y😼esterday.

The company stated that Green had resigned ‘for both personal reasons and also 🌠to enable him to focus upon other business interests’.

The company also informed that non-executive independent dire🦩ctor Matthew Hunter will function as interim chairman of the company until further notice.

In August 2017, from the company’s board although he contin🔯ues to be a shareholder and advisor.

The company is also fa꧃cing litigation from its Nepalese partner Rajendra Bajgain and had terminated its consultancy agreement with him. The termination however was stayed by a local court in Nepal and the company is trying to enter into a settlement agreement wit🍬h Bajgain.

Silver Heritage operates So🉐uth Asia’s first integrated casino resort, viz. the Tiger Palace resort at Bhairahawa on tಞhe India-Nepal border. The company also operates casinos in Kathma🐻ndu and Vietnam.

The co🤪mpany recently in terms of adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the firs๊t quarter of 2018, amounting to US$ 1.9 million.

The co꧅mpany also noted that the Tiger Palace resort had regis🔯tered 7,500 unique members since its opening in December 2018 and experienced a total footfall of over 22,000 patrons. The total revenues from Tiger Palace resort in the first quarter of 2018 were around US$ 911,000, as per the company.