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Notice of Cancellation, Cash Distribution and EGM

Released 07:00 25-Aug-2017

RNS Number : 9180O
Vietnam Infrastructure Limited
25 August 2017
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

 

25 August 2017

 

For Immediate Release

 

Vietnam Infrastructure Limited

(the "Company")

 

Notice of Cancellation, Cash Distribution and Extraordinary General Meeting

 

Following the divestment of the last remaining Private Equity Portfolio investments, the Board of Directors of the Company are pleased to announce an aggregate cash distribution to Private Equity Shareholders (the "Shareholders") of US$12.6 million (the "Distribution") representing US$0.0361 for each Private Equity Share of US$0.01 each ("Private Equity Shares") currently in issue. The Record Date for the Distribution is Friday 29 September.

  

In conjunction with the Distribution, the Company announces that it has today published a circular (the "Circular") including a Notice of Extraordinary General Meeting setting out details of the recommended proposals for the voluntary winding up of the Company under the laws of the Cayman Islands, the appointment of joint liquidators and the cancellation of admission of the Private Equity Shares to trading on AIM (the "Resolutions"). The Extraordinary General Meeting of the Company (the "EGM") will take place on 9 October 2017 at 2.30 p.m. UK time at which Shareholders will be asked to approve the Resolutions. Further details of the EGM and the Resolutions are contained in the Circular that will be sent to Shareholders today. A copy of the Circular will also be available on the Company's website http://vni-fund.com

Subject to the passing of the Resolutions by the requisite majority, admission of the Private Equity Shares to trading on AIM will be cancelled with effect from 7.00 a.m. on 10 October 2017, following which the Company's Private Equity Shares will no longer be tradeable.

The Private Equity Shares will be suspended from trading at 7.30 a.m. on 9 October 2017 in advance of the EGM, as the commencement of the liquidation process will render the Company inappropriate for admission to trading on AIM.  No mechanism to enable Private Equity Shares to be traded following cancellation will be made available to shareholders and the Private Equity Shares will not be transferable once the Company enters liquidation without the consent of the liquidators.

The expected timetable for the Distribution and the EGM is as follows:

 


2017

Ex-entitlement Date for Distribution and EGM

Thursday, 28 September

Record Date for Distribution and EGM

6.00 p.m. (UK time) on

Friday, 29 September

Latest time and date for receipt of Forms of Proxy and bank account confirmation

5.00 p.m. (Singapore time) on

Thursday, 28 September

Distribution Date

Monday, 2 October

Settlement Date

Thursday, 5 October

Last day of dealings of Private Equity Shares on AIM

Friday, 6 October

Suspension of the Private Equity Shares from trading on AIM

7:30 a.m. (UK time) on

Monday, 9 October

Time and Date of EGM

2.30 p.m. (UK time) on

Monday, 9 October

Announcement of results of EGM

Monday, 9 October

Appointment of Joint Liquidators

Monday, 9 October

Cancellation of trading on AIM

7:00 a.m. (UK time) on

Tuesday, 10 October

 

A bank account confirmation letter, which will be sent to Shareholders today, will contain the details of how registered Shareholders can nominate a bank account to receive their entitled distribution amount.

  

The above times and/or dates may be subject to change and, in the event of such change, the revised times and/or dates will be notified to the Shareholders by an announcement through a Regulatory Information Service of the London Stock Exchange.

 

 

Enquiries

 

For further information, please contact:

 

Vietnam Infrastructure Limited
Rupert Carington                                                                                                                 Tel: +44 (0)20 7845 5950

 

VinaCapital Investment Management Limited

Tony Hsun                                                                                                                            Tel: +84 8 3821 9930


Numis Securities Limited, Broker

David Benda / Hugh Jonathan                                                                                          Tel: +44 (0)20 7260 1000

funds@numis.com

 

Grant Thornton UK LLP, Nominated Adviser                                 
Philip Secrett                                                                                                         Tel: +44 (0)20 7383 5100

philip.j.secrett@uk.gt.com

 

 

 

This announcement does not constitute a listing document, prospectus, offering memorandum, or offer or solicitation to any person in the United States or any other jurisdiction to purchase or sell any investment. No information set out in or referred to in connection with this announcement is intended to form the basis of any contract of sale, investment decision or any decision to purchase any securities, nor should such information be construed as providing financial, investment or other professional advice. This announcement should not be considered by the recipient as a recommendation relating to the acquisition or disposal of investments. It is recommended that recipients of this announcement seek their own independent legal, tax, financial and other advice. This announcement does not contain sufficient information to support an investment decision and investors should ensure that they obtain all available relevant information before making any investment.

 

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". In some cases, such forward-looking statements can be identified by the use of forward-looking terminology, including the terms "targets", "believes", "estimates", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology. Any forward-looking statements are only made as at the date of this announcement, and the Company neither intends nor assumes any obligation to update forward-looking statements set forth in this announcement whether as a result of new information, By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The Company's actual performance, results of operations, financial condition, liquidity and distributions to shareholders may differ materially from the impression created by any forward-looking statements contained in this announcement.

 

The opinions expressed are those held by the Company at the date of this announcement and are subject to change. Neither the Company nor any of its affiliates accept any liability or responsibility whatsoever for the accuracy or completeness of, nor make any representation or warranty (express or implied) with respect to, the information contained in these materials or any publicly available information.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Notice of Cancellation, Cash Distribution and EGM - RNS