Notice of AGM

RNS Number : 4400R

VietNam Holding Limited

23 August 2010

 



23 August 2010

VietNam Holding Limited

Notice of Annual General Meeting

VietNam Holding Limited (the 'Company') (AIM: VNH) today announces that it will hold its annual general meeting ('AGM') at 4 pm on 23 September 2010 at the Frankfurter Hof hotel in Frankfurt, Germany.

The discount of VietNam Holding's share price to its Net Asset Value (NAV) per share has been, similar to most other closed-end Vietnam funds, a major concern of the Company and its shareholders in recent years. In an attempt to improve this discount the Company is asking its shareholders to approve a Share Repurchase Program, further details of which are set below and in the Notice of AGM.

With Vietnam still one of the fastest growing national economies in the world, the Company firmly believes that VietNam Holding should grow in the future as well. Therefore, a C Share Issuance is proposed to the shareholders of the Company to capture attractive investing opportunities with SRI (Sustainable Responsible Investment) features and to increase the liquidity of the Company's own shares by increasing the size of the Company.

Summary of Special Businesses (Ordinary Resolutions)

Share Repurchase Program:

Due to the prevailing discount to NAV at which the shares of the Company are traded on the secondary market, the Company seeks the authorization from its shareholders to repurchase up to 10% of its own shares with the aim of reducing the discount and bringing the traded share price closer to NAV per share.

Share Capital Increase:

The Company seeks shareholder approval to increase its authorized share capital from US$100,000,000 divided into 100,000,000 shares of par value US$1 each, to US$200,000,000, divided into 200,000,000 shares of par value US$1 each.

Issuing C Shares:

The Company seeks shareholder approval to issue up to 100,000,000 C Shares of par value US$1 each. The precise timing of the placing of these shares would be at the discretion of the Directors. This is to allow maximum flexibility with regard to variable economic developments and to best anticipate changing investment opportunities in Vietnam.

A copy of the full Notice of AGM will be emailed to shareholders today and is available on the Company's website www.vietnamholding.com.

For more information please contact:

VietNam Holding Asset Management Ltd Gyentsen Zatul,  Investor Relations Telephone: [phone] Grant Thornton Corporate Finance Philip J Secrett,  Nominated Adviser Telephone: [phone] CARD Corporate Services Ltd. Alan de Saram,  Registrar Telephone: [phone]

 

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