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Cheung Kong sets date for shareholders' vote on name change, stake sale

Shareholders of Cheung Kong Property Holdings Ltd. are set to meet Aug. 24 to vote on a proposed name change and the sale of its interest in a Canadian subsidiary.

In mid-July, the company announced plans to change its name to CK Asset Holdings Ltd., citing a change in its investment activities, which are no longer exclusive to real estate.

Cheung Kong's board also submitted for approval a plan for its unit, Rich Heights Ltd., to divest for C$714.9 million a 25% stake in CKP (Canada) Holdings Ltd. to Roaring Victory Ltd., a subsidiary of CK infrastructure Holdings Ltd.

The company also indicated in a filing that the extraordinary general meeting might be rescheduled to Aug. 25 if the weather should keep it from going ahead on the original proposed date.