Share buyback

RNS Number : 0263K

VinaCapital Vietnam Opp. Fund Ld

14 August 2012

 



14 August 2012

VinaCapital Vietnam Opportunity Fund Limited

Share buyback

VinaCapital Vietnam Opportunity Fund Ltd ('VOF', the 'Company') announces that on 13 August 2012, pursuant to the share buyback authority granted to the Company's Board of Directors on 25 October 2011, Visaka Holdings Limited, a wholly-owned subsidiary of the Company, purchased 200,000 Ordinary Shares of US$0.01 each at an average price of USD1.64 per share. 

Following this transaction, VOF has spent USD25.9 million overall repurchasing 17,363,831 shares which are held as treasury shares. The total number of shares acquired since November 2011 represents 5.35 percent of the Company's 324,610,259 Ordinary Shares in issue and as a result, total voting rights in the Company have been reduced to 307,246,428.

Over the past month, the share price of VOF increased by 10.8 percent to USD1.64 per share as a result of global market conditions improving and the Vietnamese economy continuing to show signs of stability, with inflation and currency exchange risk muted throughout the year. Additionally, efforts to reduce the share price to NAV discount have taken shape, partially due to the share buyback program. The current discount has declined to approximately 31 percent, far lower than the 42 percent recorded as at 31 December 2011.

More information on the Company is available at www.vinacapital.com/vof

Enquiries:

David Dropsey

VinaCapital Investment Management Limited

Investor Relations/Communications

[phone]

[e-mail]

Philip Secrett

Grant Thornton Corporate Finance, Nominated Adviser

[phone]

[e-mail]

Hiroshi Funaki

LCF Edmond de Rothschild Securities, Broker

[phone]

[e-mail]  

David Benda / Hugh Jonathan

Numis Securities Limited, Broker

[phone]

[e-mail]

Mark Walters

FTI Consulting, Public Relations (Hong Kong)

[phone]

[e-mail] 

Andrew Walton

FTI Consulting, Public Relations (London)

[phone]

[e-mail]

 

END

 

 

POSBKQDPABKDBFD