Proposed additional exercise date for Warrants
28 March 2017
VietNam Holding Limited (the "Company")
Proposed additional exercise date for Warrants
The Company carried out a bonus issue of warrants on 5 June 2015 (the "Warrants"). The terms of the deed poll creating the Warrants (the "Warrant Instrument") provides that the final remaining exercise date for the Warrants is 1 June 2017.
The Company announces that it intends to seek the consent of its shareholders and warrant holders for the creation of an additional exercise date for the Warrants of 1 November 2017. It is the view of the Board that it is in the interests of the Company for the Warrants to be exercised, as it is a cost effective way of the Company raising additional capital to take advantage of the investment opportunities in the market. The Board believes that the creation of an additional exercise date will make it more likely that the Warrants will be exercised.
Under the terms of the Warrant Instrument, the creation of an additional exercise date for the Warrants requires the approval of the holders of Warrants at an extraordinary general meeting. As this proposal will also extend the period of time during which the existing ordinary shares in the Company may be diluted by the exercise of the Warrants, the Company will also seek shareholder approval for the proposal at an extraordinary general meeting of shareholders.
Further details of the proposals will be set out in a circular sent to shareholders and warrant holders in April 2017. The circular will contain notices of separate extraordinary general meetings for shareholders and warrant holders.
For more information please contact:
VietNam Holding Asset Management Limited
Investor Relations
Gyentsen Zatul
Telephone: +41 43 500 2810
investorrelations@vnham.com
www.vietnamholding.com
Smith & Williamson Corporate Finance Limited
Nominated Adviser
Azhic Basirov/Ben Jeynes
Telephone: +44 20 7131 4000
Winterflood Investment Trusts
Broker
Joe Winkley/Neil Langford
Telephone: +44 20 3100 0000
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.
This information is provided by RNS
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