Results of Shareholder and Warrant Holder Meetings

RNS Number : 0503D

VietNam Holding Limited

21 April 2017

 

21 April 2017

VietNam Holding Limited

("VNH" or the "Company")

Results of Shareholder and Warrant Holder Meetings

On 4 April 2017, the Company published a Circular convening the Shareholder EGM and the Warrant Holder EGM. The Circular set out details of the Proposal to extend the term of the Company's Warrants, which were issued by the Company through a bonus issue completed on 5 June 2015, through the creation of an additional exercise date for the Warrants of 1 November 2017.

The Company now announces the results of the Shareholder EGM and the Warrant Holder EGM which were held earlier today.  

Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Circular.

Result of Shareholder EGM

The resolution proposed at the Shareholder EGM held at 10:00 a.m. (Cayman Islands time) today was put to the Shareholder EGM on a poll and was duly approved by Shareholders. The resolution put to the Shareholder EGM required the approval of a majority of 50% of the votes cast by those in attendance and exercising their vote. The full results of the Shareholder EGM are given below:

Resolution	Votes for	% For	Votes Against	% Against	Total Votes Cast	% Voting Rights Voted
1	19,257,002	96.50	698,666	3.50	19,955,668	37.01

Percentages are expressed as a proportion of the total votes cast.

Result of Warrant Holder EGM

The resolution proposed at the Warrant Holder EGM held at 11:00 a.m. (Cayman Islands time) today was put to the Warrant Holder EGM on a poll and was not approved with the required majority by the Warrant Holders. The resolution put to the Warrant Holder EGM required the approval of a majority of 75% of the votes cast by those in attendance and exercising their vote. The full results of the Warrant Holder EGM are given below:

Resolution	Votes for	% For	Votes Against	% Against	Total Votes Cast	% Voting Rights Voted
1	5,202,103	66.99	2,562,861	33.01	7,764,964	40.07

Percentages are expressed as a proportion of the total votes cast.

Whilst the resolutions put to the Shareholder EGM and the Warrant Holder EGM received the support of a majority of the Shareholders and Warrant Holders voting, only the resolution put to the Shareholder EGM was duly approved.

With the resolution put to the Warrant Holder EGM not receiving the necessary approval of a 75% majority, the Proposal cannot be implemented and the term of the Warrants will not be extended through the creation of an additional exercise date of 1 November 2017. The final exercise date of the Warrants is 1 June 2017.

For more information please contact:

VietNam Holding Asset Management Limited	Tel: [phone]
Investor Relations Gyentsen Zatul [e-mail] www.vietnamholding.com
Smith & Williamson Corporate Finance Limited Nominated Adviser	Tel: [phone]
Azhic Basirov / Ben Jeynes
Winterflood Investment Trusts Broker	Tel: [phone]
Joe Winkley / Neil Langford
Buchanan Communications Financial Public Relations	Tel: [phone]
Charles Ryland / Vicky Hayns

 

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