Last checked at 
31 Oct 2018 12:53
VietNam Holding Limited
("VNH" or the "Company")
Result of AGM/EGM
Result of Tender Offer
VietNam Holding Limited ("VNH" or the "Company") (AIM: VNH) is pleased to report that at both the 2018 Annual General Meeting and Extraordinary General Meeting held earlier today all resolutions were duly passed.
Annual General Meeting
The result of the votes for each resolution were as follows:
Resolution | Description | For (votes) | For % | Against (votes) | Against % | Total Votes Cast (excl. Votes Withheld) | Withheld (Votes) |
RES:001 | AUDITED ACCOUNTS | 41,946,595 | 99.87 | 54,000 | 0.13 | 42,000,595 | 724,634 |
RES:002 | RE-ELECT SEAN HURST | 38,635,795 | 99.95 | 20,000 | 0.05 | 38,655,795 | 4,069,434 |
RES:003 | RE-ELECT HIROSHI FUNAKI | 38,635,795 | 99.95 | 20,000 | 0.05 | 38,655,795 | 4,069,434 |
RES:004 | RE-ELECT DAMIEN PIERRON | 38,635,795 | 99.95 | 20,000 | 0.05 | 38,655,795 | 4,069,434 |
RES:005 | RE-ELECT PHILIP SCALES | 38,635,795 | 99.95 | 20,000 | 0.05 | 38,655,795 | 4,069,434 |
RES:006 | RE-APPOINT AUDITORS | 42,000,595 | 100.00 | 0 | 0.00 | 42,000,595 | 724,634 |
RES:007 | BUY BACK SHARES | 42,725,229 | 100.00 | 0 | 0.00 | 42,725,229 | 0 |
RES:008 | VNH CONTINUE FOR 3 YEARS | 35,516,312 | 86.03 | 5,765,085 | 13.97 | 41,281,397 | 1,443,832 |
Extraordinary General Meeting
The result of the votes for each resolution were as follows:
Resolution | Description | For (votes) | For % | Against (Votes) | Against % | Total Votes Cast (excl. Votes Withheld) | Withheld (Votes) |
RES:001 | APPROVE TENDER OFFER | 40,025,467 | 92.56 | 3,218,477 | 7.44 | 43,243,944 | 0 |
RES:002 | MIGRATION & NEW ARTICLES | 39,875,468 | 92.21 | 3,368,476 | 7.79 | 43,243,944 | 0 |
RES:003 | AUTHORITY TO ALLOT SHARES | 39,150,834 | 92.08 | 3,368,476 | 7.92 | 42,519,310 | 724,634 |
Result of Tender Offer
The latest time for acceptance of the Tender Offer was 1.00 p.m. on 30 October 2018. 42,069,742 Shares (representing 66.6% of the Shares outstanding) were validly tendered of which 9,328,963 Shares were in respect of Basic Entitlements and 32,740,779 Shares were in respect of Excess Tenders. As a result, all valid tenders will be satisfied in full up to the Basic Entitlement and, following application of the scale-back mechanism (as set out in the circular sent to shareholders on 8 October 2018 ("Circular"), tenders in excess of the Basic Entitlement will be satisfied to the extent of 1.17 per cent. of the excess Shares tendered (each such satisfied entitlement being rounded down to the nearest whole number of Shares). Accordingly, 9,711,664 Shares will be purchased at the Tender Price, as determined in accordance with the terms and conditions of the Tender Offer as set out in Part 6 of the Circular.
As set out in the Circular, the Shares in respect of which tenders have been accepted will be purchased by finnCap Limited ("finnCap") pursuant to the Tender Offer and the Company will buy-back such Shares from finnCap for cancellation.
Total Voting Rights
With effect from the 1 November 2018, the Company's issued share capital is 54,442,452 Shares (being ordinary shares of US$1 each in the capital of the Company), carrying one vote per share. No Shares will be held in treasury.
Capitalised terms and expressions shall have the same meanings as those attributed to them in the Circular.
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More information on the Company is available at Vietnam Holding Limited Sean Hurst, Chairman |
www.vietnamholding.com
Tel: +44 20 7220 0500 |
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| finnCap Ltd Stuart Andrews/William Marle/Giles Rolls, Nominated Adviser and Broker | Tel: +44 20 7220 0500 |
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