Result of AGM & EGM and Result of Tender Offer

RNS Number : 8956F
VietNam Holding Limited
31 October 2018
 

VietNam Holding Limited

("VNH" or the "Company")

Result of AGM/EGM

Result of Tender Offer

 

 

VietNam Holding Limited ("VNH" or the "Company") (AIM: VNH) is pleased to report that at both the 2018 Annual General Meeting and Extraordinary General Meeting held earlier today all resolutions were duly passed.

 

Annual General Meeting

 

The result of the votes for each resolution were as follows:

 

Resolution

Description

For (votes)

For %

Against (votes)

Against %

Total Votes Cast (excl. Votes Withheld)

Withheld (Votes)

RES:001

AUDITED ACCOUNTS        

41,946,595

99.87

54,000

0.13

42,000,595

724,634

RES:002

RE-ELECT SEAN HURST     

38,635,795

99.95

20,000

0.05

38,655,795

4,069,434

RES:003

RE-ELECT HIROSHI FUNAKI 

38,635,795

99.95

20,000

0.05

38,655,795

4,069,434

RES:004

RE-ELECT DAMIEN PIERRON 

38,635,795

99.95

20,000

0.05

38,655,795

4,069,434

RES:005

RE-ELECT PHILIP SCALES  

38,635,795

99.95

20,000

0.05

38,655,795

4,069,434

RES:006

RE-APPOINT AUDITORS     

42,000,595

100.00

0

0.00

42,000,595

724,634

RES:007

BUY BACK SHARES         

42,725,229

100.00

0

0.00

42,725,229

0

RES:008

VNH CONTINUE FOR 3 YEARS 

35,516,312

86.03

5,765,085

13.97

41,281,397

1,443,832

 

 

Extraordinary General Meeting

 

The result of the votes for each resolution were as follows:

 

Resolution

Description

For (votes)

For %

Against (Votes)

Against %

Total Votes Cast (excl. Votes Withheld)

Withheld (Votes)

RES:001

APPROVE TENDER OFFER    

40,025,467

92.56

3,218,477

7.44

43,243,944

0

RES:002

MIGRATION & NEW ARTICLES

39,875,468

92.21

3,368,476

7.79

43,243,944

0

RES:003

AUTHORITY TO ALLOT SHARES

39,150,834

92.08

3,368,476

7.92

42,519,310

724,634

 

 

Result of Tender Offer

 

The latest time for acceptance of the Tender Offer was 1.00 p.m. on 30 October 2018. 42,069,742 Shares (representing 66.6% of the Shares outstanding) were validly tendered of which 9,328,963 Shares were in respect of Basic Entitlements and 32,740,779 Shares were in respect of Excess Tenders. As a result, all valid tenders will be satisfied in full up to the Basic Entitlement and, following application of the scale-back mechanism (as set out in the circular sent to shareholders on 8 October 2018 ("Circular"), tenders in excess of the Basic Entitlement will be satisfied to the extent of 1.17 per cent. of the excess Shares tendered (each such satisfied entitlement being rounded down to the nearest whole number of Shares). Accordingly, 9,711,664 Shares will be purchased at the Tender Price, as determined in accordance with the terms and conditions of the Tender Offer as set out in Part 6 of the Circular.

 

As set out in the Circular, the Shares in respect of which tenders have been accepted will be purchased by finnCap Limited ("finnCap") pursuant to the Tender Offer and the Company will buy-back such Shares from finnCap for cancellation.

 

Total Voting Rights

 

With effect from the 1 November 2018, the Company's issued share capital is 54,442,452 Shares (being ordinary shares of US$1 each in the capital of the Company), carrying one vote per share. No Shares will be held in treasury.

 

Capitalised terms and expressions shall have the same meanings as those attributed to them in the Circular.

 

 

 

More information on the Company is available at

Vietnam Holding Limited

Sean Hurst, Chairman

 

www.vietnamholding.com

 

Tel: +44 20 7220 0500

 

 

finnCap Ltd

Stuart Andrews/William Marle/Giles Rolls,

Nominated Adviser and Broker

Tel: +44 20 7220 0500

 



 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCLFLFXVBFEFBB
UK 100

Latest directors dealings