Result of AGM

RNS Number : 2488T

VietNam Holding Limited

24 September 2010

 



24 September 2010

VietNam Holding Limited

("VNH" or the "Company")

Result of AGM

VietNam Holding Limited (AIM: VNH) announces that at the Annual General Meeting of shareholders held on 23 September 2010 in Frankfurt, all the resolutions recommended by the Board were passed including the following three special items:

Share Repurchase Program:

The aim of the Share Repurchase Program is to reduce the discount on NAV at which the shares of the Company are traded on the secondary market and to bring the traded share price closer to NAV per share, by buying back up to 10% of the Company's own shares.

Share Capital Increase:

The Company's shareholders approved an increase in its share capital from US$100,000,000 divided into 100,000,000 shares of par value US$1 each, to US$200,000,000, divided into 200,000,000 shares of par value US$1 each.

Issuance of C Shares:

The issuance of up to 100,000,000 C Shares of par value US$1 each was also approved . The  timing of the placing of these shares is at the discretion of the Directors. This is to allow maximum flexibility with regards to variable economic developments and in order to best anticipate the changing investment opportunities in Vietnam.

About VietNam Holding Limited:

VIETNAM HOLDING LTD (VNH) is an investment company incorporated in the Cayman Islands. VNH is listed both on the London Stock Exchange's AIM Market and on the Entry Standard of the Frankfurt Stock Exchange. The company's investment portfolio is managed by VIETNAM HOLDING ASSET MANAGEMENT LTD., an investment management firm with offices in Hanoi and Ho Chi Minh City and a subsidiary in Zurich. VNH is a value investor, incorporating environmental, social and corporate governance (ESG) factors in its investment analysis and decision-making process. Through its VIETNAM HOLDING Forum events, VNH promotes acceptance and implementation of the sustainability principles within the investment industry in Vietnam. For more information, please visit VNH's website at www.vietnamholding.com.

 

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