03-04-13 - Paul Y. Engineering Shareholders Approve Company Name Change to “Louis XIII Holdings Ltd.”
The Board of Directors of Paul Y. Engineering Group Limited (“the Company”, “Paul Y.” or “PYE”; stock code 0577.HK), today announced that the Company’s shareholders have approved a change in the Company’s name to “Louis XIII Holdings Limited”, as well as the adoption of “ 路易十三集團有限公司” as its new Chinese name in place of “保華建業集團有限公司”. A further announcement will be issued when this change in company name becomes effective.
The Board has undertaken the name change as part of its corporate strategy to align the Company’s name with its new core business of developing, constructing and managing an eminently exclusive hotel and entertainment destination in Macau’s Cotai Strip, called “Louis XIII”. This venture, which features Paris’ most prestigious Michelin 3-star restaurant L’Ambroisie as well as a by-invitation only “Atelier” offering a unique and ultra high-end shopping experience, will specifically target wealthy guests who demand true and uncompromising luxury.
“The Louis XIII name strongly reflects the Company’s new business focus and direction, developing the world’s first-ever, ultra-exclusive luxury lifestyle hotel. The new name, and related branding, will build better visibility for the business by aligning our corporate image with our operating activities. The Louis XIII name captures the essence of the unprecedented, uber-luxury experience we are offering wealthy guests that is not available anywhere else in the world,” said Mr. Stephen Hung, Chairman of Louis XIII Holdings Limited / Paul Y. Engineering Group Limited.
In recognition of the tradition, the Group’s construction and civil engineering business will continue to operate using the ‘Paul Y.’ brand.