Notice of AGM

RNS Number : 1632V

VietNam Holding Limited

23 October 2014

 



VietNam Holding Limited ('VNH' or the 'Company')

Notice of Annual General Meeting

VietNam Holding Limited (AIM: VNH) today announces that it will hold its Annual General Meeting ('AGM') at 4.00pm Central European Time on 19 November 2014, at the Savoy Hotel, Paradeplatz, 8022 Zurich, Switzerland.

Copies of the notice of AGM and the form of proxy will be emailed to VNH shareholders today and are available for download from the Company's website:

http://www.vietnamholding.com/Shareholder%20Circular.aspx

Discount control and share buy-back powers

VNH's board of directors ('the Board') has resolved to continue its discount management programme in order to monitor and help contain the discount to Net Asset Value per share at which the Company's shares are traded.  Therefore, in addition to the ordinary business to be considered at the AGM, a resolution will be proposed to authorise the Board to continue to repurchase the Company's shares.  This resolution, which is on substantially the same terms as those passed at previous Annual General Meetings, will allow for the repurchase of up to 10 per cent of the Company's issued share capital.

Shareholder register transparency

The circular to shareholders containing the notice of AGM also refers to proposals by the Board for a voluntary shareholder notification code.

As the Company is incorporated under the laws of the Cayman Islands, VNH shareholders are not subject to the requirements of the Disclosure and Transparency Rules of the FCA to disclose to the Company the level of, or relevant changes to, their interest in the Company's shares. 

However, the Board is committed to improving shareholder information disclosure as part of its ongoing obligations as a company admitted to trading on the AIM Market. It also considers that increased transparency in the shareholder register may help facilitate increased liquidity in the Company's shares.

Instead of formally proposing changes to the Company's Articles in this regard, the Board is proposing a voluntary Shareholder verification and reporting code whereby Shareholders notify the Company of any changes to their shareholding as a result of an acquisition or disposal or event changing the breakdown of their voting rights, whereby the proportion of voting rights which the shareholder hold, reaches, exceeds or falls below 3 per cent of the Company's voting rights or moves through any whole percentage point above 3 per cent.

The Board is proposing that Shareholders voluntarily make these disclosures to help facilitate the Company's ongoing compliance with its obligations under the AIM Rules. The Board will monitor carefully the voluntary disclosures made prior to deciding whether any more formal action is required in this regard.

For more information please contact:

VietNam Holding Asset Management Limited
Gyentsen Zatul - Investor Relations
Tel: [phone]

Altium Capital Limited (Nominated Adviser)
Tim Richardson
Tel: [phone]

Winterflood Investment Trusts (Broker)
Joe Winkley / Neil Langford
Tel: [phone]

Buchanan Communications
Charles Ryland / Sophie McNulty
Tel: [phone]

 

END

 

 

NOAQKNDQQBDDNKB