Results of Shareholder and Warrant Holder Meetings
21 April 2017
VietNam Holding Limited
("VNH" or the "Company")
Results of Shareholder and Warrant Holder Meetings
On 4 April 2017, the Company published a Circular convening the Shareholder EGM and the Warrant Holder EGM. The Circular set out details of the Proposal to extend the term of the Company's Warrants, which were issued by the Company through a bonus issue completed on 5 June 2015, through the creation of an additional exercise date for the Warrants of 1 November 2017.
The Company now announces the results of the Shareholder EGM and the Warrant Holder EGM which were held earlier today.
Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Circular.
Result of Shareholder EGM
The resolution proposed at the Shareholder EGM held at 10:00 a.m. (Cayman Islands time) today was put to the Shareholder EGM on a poll and was duly approved by Shareholders. The resolution put to the Shareholder EGM required the approval of a majority of 50% of the votes cast by those in attendance and exercising their vote. The full results of the Shareholder EGM are given below:
|
Resolution |
Votes for |
% For |
Votes Against |
% Against |
Total Votes Cast |
% Voting Rights Voted |
|
1 |
19,257,002 |
96.50 |
698,666 |
3.50 |
19,955,668 |
37.01 |
Percentages are expressed as a proportion of the total votes cast.
Result of Warrant Holder EGM
The resolution proposed at the Warrant Holder EGM held at 11:00 a.m. (Cayman Islands time) today was put to the Warrant Holder EGM on a poll and was not approved with the required majority by the Warrant Holders. The resolution put to the Warrant Holder EGM required the approval of a majority of 75% of the votes cast by those in attendance and exercising their vote. The full results of the Warrant Holder EGM are given below:
|
Resolution |
Votes for |
% For |
Votes Against |
% Against |
Total Votes Cast |
% Voting Rights Voted |
|
1 |
5,202,103 |
66.99 |
2,562,861 |
33.01 |
7,764,964 |
40.07 |
Percentages are expressed as a proportion of the total votes cast.
Whilst the resolutions put to the Shareholder EGM and the Warrant Holder EGM received the support of a majority of the Shareholders and Warrant Holders voting, only the resolution put to the Shareholder EGM was duly approved.
With the resolution put to the Warrant Holder EGM not receiving the necessary approval of a 75% majority, the Proposal cannot be implemented and the term of the Warrants will not be extended through the creation of an additional exercise date of 1 November 2017. The final exercise date of the Warrants is 1 June 2017.
For more information please contact:
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VietNam Holding Asset Management Limited |
Tel: +41 43 500 28 10 |
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Investor Relations Gyentsen Zatul |
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Smith & Williamson Corporate Finance Limited Nominated Adviser |
Tel: +44 20 7131 4000 |
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Azhic Basirov / Ben Jeynes |
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Winterflood Investment Trusts |
Tel: +44 20 3100 0000 |
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Joe Winkley / Neil Langford |
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Buchanan Communications |
Tel: +44 20 7466 5000 |
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Charles Ryland / Vicky Hayns |
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This information is provided by RNS
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