Share buyback

RNS Number : 4761H

VinaCapital Vietnam Opp. Fund Ld

19 May 2014

 



19 May 2014

VinaCapital Vietnam Opportunity Fund Limited

Share buyback

VinaCapital Vietnam Opportunity Fund Ltd ('VOF', the 'Company') announces that on 16 May 2014, 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 394,250 Ordinary Shares of USD0.01 each at an average price of USD2.4127 per share.

Following this transaction, VOF has spent USD162.5 million overall repurchasing 84,739,211 shares which are held as treasury shares and have reduced the total voting rights in the Company to 239,871,048. The total number of shares acquired since November 2011 represents 26.10 percent of the Company's 324,610,259 ordinary shares in issue. As a result of the Company's share buyback programme, VOF has recorded USD0.33 in cumulative accretion, equating to an 11.2 percent benefit to VOF's net asset value per share.

On Friday 16 May 2014, the Company's manager, VinaCapital, published a report detailing the political tensions between Vietnam and China, which have occurred over the past two weeks and the impact it has had on the country's equity markets. For the entire report, please click on the following link: 

VNC Vietnam - China tensions and its impact on the market

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 UK LLP, Nominated Adviser

[phone]

[e-mail]

Hiroshi Funaki / Andrew Davies

Edmond de Rothschild Securities, Broker

[phone]

[e-mail]  

David Benda / Hugh Jonathan

Numis Securities Limited, Broker

[phone]

[e-mail]

Andrew Walton

FTI Consulting, Public Relations (London)

[phone]

[e-mail]

 

END

 

 

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