Share buyback

RNS Number : 4606G

VinaCapital Vietnam Opp. Fund Ld

07 May 2014

 



7 May 2014

VinaCapital Vietnam Opportunity Fund Limited

Share buyback

VinaCapital Vietnam Opportunity Fund Ltd ('VOF', the 'Company') announces that on 2 May 2014, pursuant to the share buyback authority granted to the Company's Board of Directors on 25 October 2011, Visaka Holdings Limited, a wholly-owned subsidiary of the Company, purchased 479,354 Ordinary Shares of USD0.01 each at an average price of USD2.448 per share.

Following this transaction, VOF has spent USD156.6 million overall repurchasing 82,329,432 shares which are held as treasury shares and have reduced the total voting rights in the Company to 242,280,827. The total number of shares acquired since November 2011 represents 25.36 percent of the Company's 324,610,259 ordinary shares in issue. As a result of the Company's share buyback programme, VOF has recorded USD0.34 in cumulative accretion, equating to an 11.3 percent benefit to VOF's net asset value per share.

According to HSBC Vietnam, its Purchasing Managers Index (PMI) reached 53.1 in April 2014, a level not reached since April 2011. This marks the seventh straight monthly rise in the PMI index and a substantial spike from 51.3 in March, providing further evidence of the improving manufacturing environment within Vietnam's economy. Domestic consumption should improve if new orders, employment rates and disposable incomes continue to rise.

More information on the Company is available at www.vinacapital.com/vof

Enquiries:

David Dropsey

VinaCapital Investment Management Limited

Investor Relations/Communications

[phone]

[e-mail]

Philip Secrett

Grant Thornton UK LLP, Nominated Adviser

[phone]

[e-mail]

Hiroshi Funaki / Andrew Davies

Edmond de Rothschild Securities, Broker

[phone]

[e-mail]  

David Benda / Hugh Jonathan

Numis Securities Limited, Broker

[phone]

[e-mail]

Andrew Walton

FTI Consulting, Public Relations (London)

[phone]

[e-mail]

 

END

 

 

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