Final Exercise of Warrants and Issue of Equity

RNS Number : 0710H

VietNam Holding Limited

02 June 2017

 

2 June 2017

VietNam Holding Limited

("VNH" or the "Company")

Final Exercise of Warrants and Issue of Equity

VNH announces that the Company has allotted 19,377,348 new ordinary shares of US$1.00 each in the Company (the "New Ordinary Shares") following the exercise of Warrants in respect of the final Warrant exercise date of 1 June 2017, which includes the exercise by the Warrant Trustee of 6,432,613 Warrants on behalf of Ineligible Shareholders and the exercise by the Warrant Trustee of 2,135,591 Warrants not otherwise exercised by Warrant holders.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM and it is expected that admission and commencement of dealings in the New Ordinary Shares will take place at 8.00 a.m. on 8 June 2017 ("Admission").  The New Ordinary Shares will rank pari passu with the Company's existing ordinary shares.

Following the issue of the New Ordinary Shares, the Company's issued share capital will consist of 73,301,667 ordinary shares with voting rights (excluding ordinary shares held in Treasury) and 10,281,430 ordinary shares held in Treasury which have no voting rights.

The New Ordinary Shares resulting from the exercise by the Warrant Trustee have been sold in the market at a price of US$2.15 per New Ordinary Share. The proceeds of such sale, after deducting the costs of exercising the Warrants, together with the exercise price which will be retained by the Company, will be remitted to those Ineligible Shareholders and Warrant holders who did not exercise their Warrants. Accordingly, Ineligible Shareholders will receive approximately US$0.146 per Warrant held and Warrant holders who did not exercise their Warrants will receive approximately US$0.146 per Warrant, provided that, in each case, entitlements of less than US$20.00 shall be retained for the benefit of the Company.

PDMR Dealings

The Company was notified on 2 June 2017 that Professor Dr. Rolf Dubs and Mr. Nguyen Quoc Khanh, both Directors of the Company, have undertaken the following transactions:

Professor Dr. Rolf Dubs exercised 10,000 Warrants, entitling him to subscribe for 10,000 New Ordinary Shares, on the basis of one Warrant for one Ordinary Share, at an exercise price of US$1.998. Following Admission, Professor Dr. Rolf Dubs holds a beneficial interest in a total of 61,451 Ordinary Shares representing 0.084% of the ordinary share capital of the Company.

Mr. Nguyen Quoc Khanh exercised 3,333 Warrants, entitling him to subscribe for 3,333 new ordinary shares, on the basis of one Warrant for one Ordinary Share, at an exercise price of US$1.998. Following Admission, Mr. Nguyen Quoc Khanh holds a beneficial interest in a total of 33,253 Ordinary Shares representing 0.045% of the ordinary share capital of the Company.

Unless otherwise defined, capitalised words and phrases in this announcement shall have the meaning given to them in the Company's prospectus dated 19 May 2015.

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Professor Rolf Dubs
2	Reason for the notification
a)	Position/status	PDMR (Director)
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	VietNam Holding Limited
b)	LEI	-
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of US$1 each
	Identification code	KYG9361X1043
b)	Nature of the transaction	Exercise of Warrants
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		US$1.998	10,000
d)	Aggregated information
	Aggregated volume	N/A - single transaction
	Price	N/A - single transaction
e)	Date of the transaction	1 June 2017
f)	Place of the transaction	Outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nguyen Quoc Khanh
2	Reason for the notification
a)	Position/status	PDMR (Director)
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	VietNam Holding Limited
b)	LEI	-
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of US$1 each
	Identification code	KYG9361X1043
b)	Nature of the transaction	Exercise of Warrants
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		US$1.998	3,333
d)	Aggregated information
	Aggregated volume	N/A - single transaction
	Price	N/A - single transaction
e)	Date of the transaction	1 June 2017
f)	Place of the transaction	Outside of a trading venue

For more information please contact:

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

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

 

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