Results of EGM

RNS Number : 8441J

VinaCapital Vietnam Opp. Fund Ld

22 July 2013

 



22 July 2013

VinaCapital Vietnam Opportunity Fund Limited

Results of EGM

Ho Chi Minh City - VinaCapital Vietnam Opportunity Fund Limited ("the Company" or "VOF"), the AIM-quoted investment vehicle investing in Vietnam, announces today that by a large majority shareholders have supported the recommendation put forward by the Board regarding the continuation of the Company. As a result the Special Resolution, which called for the discontinuation of the Company as presently constituted, was not passed at the Extraordinary General Meeting of Shareholders ("EGM") held on Monday, 22 July 2013.

The Board was pleased to note that some 45% of the Company's shares outstanding voted at the EGM.

Resolution	In favour		Against		Withheld
	Votes	%*	Votes	%*
Special Resolution that the Company does not continue as presently constituted.	29,900,668	25.2	88,603,692	74.8	114,440

* Percentage of votes cast excludes Withheld votes.

Commenting on the results of the EGM, Steve Bates, Chairman of the Company, said: "We are very pleased to see shareholder support for the continuation of VOF and we look forward to the Company continuing to deliver excellent investment results." 

In addition, the investment management agreement has been revised to align the investment manager's interests with those of the shareholders, and a range of corporate governance enhancements will be introduced by the Company at its first annual general meeting which will be held later this year.

Notes to Editors:

VinaCapital, the investment manager of VOF, is a leading investment management and real estate development firm in Vietnam, with a diversified portfolio of USD1.5 billion in assets under management. VinaCapital was founded in 2003 and boasts a team of investment professionals who bring extensive international finance and investment experience to the firm. Our mission is to produce superior returns for investors by using our experience and knowledge to identify the key trends and opportunities that emerge as Vietnam continues to develop its economy. To achieve this, VinaCapital has industry - leading asset class teams covering capital markets, private equity, fixed income, venture capital, real estate and infrastructure.

VinaCapital manages three closed-end funds trading on the AIM Market of the London Stock Exchange. These funds are: VinaCapital Vietnam Opportunity Fund Limited (VOF), VinaLand Limited (VNL), and Vietnam Infrastructure Limited (VNI). VinaCapital also co-manages the DFJ VinaCapital L.P. technology venture capital fund with Draper Fisher Jurvetson.

VinaCapital has offices in Ho Chi Minh City, Hanoi, Danang and Singapore. More information about VinaCapital is available at www.vinacapital.com.

Enquiries

David Dropsey

VinaCapital Investment Management Limited

Investor Relations / Communications

[phone]

[e-mail]

Philip Secrett / Melanie Frean

Grant Thornton UK LLP, Nominated Adviser

[phone]

[e-mail]

[e-mail]

William Marle / Hiroshi Funaki

LCF Edmond de Rothschild Securities, Financial Adviser / Broker

[phone]

[e-mail]

Hugh Jonathan / David Benda

Numis Securities Limited, Broker

[phone]

[e-mail]

[e-mail]

Mark Walters

FTI Consulting, Public Relations (Hong Kong)

[phone]

[e-mail]

Andrew Walton

FTI Consulting, Public Relations (London)

[phone]

[e-mail]

 

END

 

 

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