Donaco International Limited (ASX:DNA) Updates Scheme Timetable and Cambodian Tax Position
Scheme of Arrangement Timetable Update
Donaco International Limited has announced a delay in the timetable for the Scheme of Arrangement with On Nut Road Limited (ONR). The original plan to dispatch the Scheme booklet on 6 May 2025 and hold the Scheme meeting on 3 June 2025 has been postponed due to delays in obtaining valuation inputs, extended legal analysis, and recent holiday periods across Australia, Vietnam, and Cambodia. Donaco will provide an updated timetable once the Independent Expert has completed its report, and court hearing dates are confirmed.
Update on Cambodian Gaming Revenue Tax Position
The company clarified its tax obligations in Cambodia, revealing that a 10% Value Added Tax (VAT) applies to gross gaming revenue effective from 1 January 2025, following legal advice. Although no tax assessment has been rendered yet, Donaco estimates an additional A$666,000 in VAT for Q3 FY2025 if the liability crystallises. Donaco continues to engage with Cambodian authorities regarding the applicability of Prakas No. 1080 and potential double taxation issues.
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