Close Period Buyback

RNS Number : 9010V

VietNam Holding Limited

18 December 2013

 



VietNam Holding Limited

Close Period Buyback

Vietnam Holding Limited ("VNH" or the "Company") announces that it has entered into an irrevocable and non-discretionary arrangement with its broker, Oriel Securities Limited ("Oriel Securities"), to repurchase on its behalf, within certain pre-set parameters, ordinary shares in the Company during the Company's close period relating to its interim results for the 6 month period ending 31 December 2013 (the "Buyback Period"). The Buyback Period will commence on 1 January 2014 and end five business days following the announcement of the Company's interim results for the 6 month period ending 31 December 2013; or if sooner by 28 February 2014. The maximum price, exclusive of expenses, per Share shall be no more than 105 per cent. of the average of the middle market quotations for a Share, taken from a recognised market information provider, for the five business days immediately preceding the day on which the Share is purchased. In addition, Oriel Securities will only buyback shares at a discount rate of greater than 10% from the last published underlying net asset value per share. The buyback will be independently managed by Oriel Securities Limited during the Buyback Period and after purchase, the shares will be held in Treasury. 

These arrangements form part of the buyback programme which was approved by shareholders at the Company's Annual General Meeting ("AGM") on 11 September 2013. Further information on the buyback authority, including the shareholder resolutions for the AGM, can be found on VNH's website at www.vietnamholding.com

For more information please contact:

VietNam Holding Asset Management Limited

Gyentsen Zatul

Investor Relations

Telephone: [phone]                  

Oriel Securities Limited (Nominated Adviser and Broker)

Stewart Wallace / Neil Winward

Telephone: [phone]    

 

END

 

 

POSEASAPFAKDFFF