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Dividend Policy

Released 07:00 17-Aug-2017

Dividend Policy

VinaCapital Vietnam Opportunity Fund Limited (the "Company")
(a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 61765)

Dividend Policy

17 August 2017

Following consultations with the major shareholders of, and advisers to, VinaCapital Vietnam Opportunity Fund Limited (“VOF” or the “Company”), the Board of Directors has decided to amend VOF’s dividend policy.

With immediate effect, the Board intends that the Company will pay a dividend twice per year, normally declared in March and October. Exceptionally, the Company is today making a separate announcement in respect of its first dividend declaration.

The change in the dividend policy reflects various factors related both to the development of the Vietnamese capital markets and to VOF itself. These factors include:

It is the intention of the Board to declare semi-annual dividends for the foreseeable future of an amount of at least 4.8 US cents per share, or the equivalent in UK pence. This amount is approximately equal to 1 per cent of VOF’s unaudited net asset value at 30 June 2017. As and when circumstances permit, it is the Board’s intention to increase the dividend.

Dividend payments will not necessarily be fully covered by income and, as such, may represent a return of capital to shareholders.

Dividends will be declared in US dollars, which is the Company’s functional currency. Shareholders may opt to have dividends paid in either US dollars or in Pounds sterling, which is the currency in which the Company’s share price is quoted on the London Stock Exchange. By default, shareholders with registered addresses in the UK and Channel Islands will receive dividends in sterling. Shareholders registered in other jurisdictions will receive dividends in dollars. Shareholders may, however, inform the registrars that they wish to receive their dividends in either currency and the procedure for informing the Company’s registrars is set out in today’s first dividend announcement.

Shareholders should note that the change in dividend policy is in addition to the Company’s share buyback programme, which has been the primary mechanism for attempting to control the share price discount to net asset value.

Enquiries

Jonathan Luu / Joel Weiden
VinaCapital Investment Management Limited
Investor Relations
+84 28 3821 9930
jonathan.luu@vinacapital.com / joel.weiden@vinacapital.com

Edward Gascoigne-Pees
Camarco (Public Relations, London)
+44 20 3757 4980
ed.gascoigne-pees@camarco.co.uk

David Benda / Hugh Jonathan
Numis Securities Limited, Broker
+44 (0)20 7260 1000
funds@numis.com

Franczeska Hanford / Andy Dovey
Northern Trust International Fund Administration Services (Guernsey) Limited, Company Secretary
+44 1481 745001
fk26@ntrs.com

Stephen Westwood
+44 (0)7533 178381


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Dividend Policy - RNS