Donaco CEO, director increase company stake after management reshuffle

Donaco International CEO Paul Arbuckle and Executive Director Ben Reichel have declared their confidence in the company’s future after increasing their personal holdings via the recent on-market purchase of shares.

A Thursday ASX filing revealed that Arbuckle, who was appointed CEO in June, has recently purchased 166,666 shares while long-time director Ben Reichel added 169,491 shares to take his stake to 880,249 ordinary shares.

The dual purchases come shortly after Donaco completed a makeover of the company’s board, including the dramatic removal of founders Joey and Ben Lim in July.

Arbuckle and Chairman Stuart McGregor last month outlined their immediate plans to rebuild Donaco following a harrowing 12 month-period that negatively impacted its FY19 financial results.

Donaco operates Star Vegas in Poipet, on the border with Thailand, and Aristo International in Vietnam, on the border with China.

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