Result of AGM & EGM and Result of Tender Offer

RNS Number : 8956F

VietNam Holding Limited

31 October 2018

 

VietNam Holding Limited

("VNH" or the "Company")

Result of AGM/EGM

Result of Tender Offer

VietNam Holding Limited ("VNH" or the "Company") (AIM: VNH) is pleased to report that at both the 2018 Annual General Meeting and Extraordinary General Meeting held earlier today all resolutions were duly passed.

Annual General Meeting

The result of the votes for each resolution were as follows:

Resolution	Description	For (votes)	For %	Against (votes)	Against %	Total Votes Cast (excl. Votes Withheld)	Withheld (Votes)
RES:001	AUDITED ACCOUNTS	41,946,595	99.87	54,000	0.13	42,000,595	724,634
RES:002	RE-ELECT SEAN HURST	38,635,795	99.95	20,000	0.05	38,655,795	4,069,434
RES:003	RE-ELECT HIROSHI FUNAKI	38,635,795	99.95	20,000	0.05	38,655,795	4,069,434
RES:004	RE-ELECT DAMIEN PIERRON	38,635,795	99.95	20,000	0.05	38,655,795	4,069,434
RES:005	RE-ELECT PHILIP SCALES	38,635,795	99.95	20,000	0.05	38,655,795	4,069,434
RES:006	RE-APPOINT AUDITORS	42,000,595	100.00	0	0.00	42,000,595	724,634
RES:007	BUY BACK SHARES	42,725,229	100.00	0	0.00	42,725,229	0
RES:008	VNH CONTINUE FOR 3 YEARS	35,516,312	86.03	5,765,085	13.97	41,281,397	1,443,832

Extraordinary General Meeting

The result of the votes for each resolution were as follows:

Resolution	Description	For (votes)	For %	Against (Votes)	Against %	Total Votes Cast (excl. Votes Withheld)	Withheld (Votes)
RES:001	APPROVE TENDER OFFER	40,025,467	92.56	3,218,477	7.44	43,243,944	0
RES:002	MIGRATION & NEW ARTICLES	39,875,468	92.21	3,368,476	7.79	43,243,944	0
RES:003	AUTHORITY TO ALLOT SHARES	39,150,834	92.08	3,368,476	7.92	42,519,310	724,634

Result of Tender Offer

The latest time for acceptance of the Tender Offer was 1.00 p.m. on 30 October 2018. 42,069,742 Shares (representing 66.6% of the Shares outstanding) were validly tendered of which 9,328,963 Shares were in respect of Basic Entitlements and 32,740,779 Shares were in respect of Excess Tenders. As a result, all valid tenders will be satisfied in full up to the Basic Entitlement and, following application of the scale-back mechanism (as set out in the circular sent to shareholders on 8 October 2018 ("Circular"), tenders in excess of the Basic Entitlement will be satisfied to the extent of 1.17 per cent. of the excess Shares tendered (each such satisfied entitlement being rounded down to the nearest whole number of Shares). Accordingly, 9,711,664 Shares will be purchased at the Tender Price, as determined in accordance with the terms and conditions of the Tender Offer as set out in Part 6 of the Circular.

As set out in the Circular, the Shares in respect of which tenders have been accepted will be purchased by finnCap Limited ("finnCap") pursuant to the Tender Offer and the Company will buy-back such Shares from finnCap for cancellation.

Total Voting Rights

With effect from the 1 November 2018, the Company's issued share capital is 54,442,452 Shares (being ordinary shares of US$1 each in the capital of the Company), carrying one vote per share. No Shares will be held in treasury.

Capitalised terms and expressions shall have the same meanings as those attributed to them in the Circular.

	More information on the Company is available at Vietnam Holding Limited Sean Hurst, Chairman		www.vietnamholding.com Tel: [phone]
	finnCap Ltd Stuart Andrews/William Marle/Giles Rolls, Nominated Adviser and Broker		Tel: [phone]

 

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