18 Jan 2017 11:32
18 January 2017
Vietnam Infrastructure Limited (the "Company' or "VNI")
Completed divestment from Southeast Asia Telecommunications Holdings
Ho Chi Minh City, Vietnam - Vietnam Infrastructure Limited, the AIM-quoted investment vehicle established to target infrastructure and related investments within Vietnam's emerging market, is pleased to announce that VNI has successfully completed the divestment from Southeast Asia Telecommunications Holding Pte. Ltd. ("SEATH"). The second and final cash payment of USD2.5 million was received in full by VNI on 17 January 2017.
Following the completion of the disposal of SEATH, and in accordance with paragraph 5.6 of the AIM Note for Investing Companies, which forms part of the AIM Rules, the Company has disposed of substantially all its assets and now has a period of 12 months from the date of the SEATH disposal to implement its investing policy being an orderly wind up of the fund. If this is not fulfilled, the Company's shares will be suspended from trading on AIM in January 2018.
As previously notified, the Company will make a distribution during the first quarter of 2017 now the proceeds have been received from the sale of SEATH. An EGM with respect to the continuation vote will be held on or before 30 June 2017 at which a proposal to wind-up the fund will be proposed. Subject to the sale of the last remaining asset, IBS, the Company anticipates making a further distribution before or in conjunction with the commencement of the voluntary liquidation process towards the end of the 2017 financial year.
Enquiries:
Jonathan Luu
VinaCapital Investment Management Limited
Investor Relations
+84 8 3821 9930
Jonathan.luu@vinacapital.com
Joel Weiden
VinaCapital Investment Management Limited
Communications
+84 8 3821 9930
joel.weiden@vinacapital.com
Philip Secrett
Grant Thornton UK LLP, Nominated Adviser
+44 (0)20 7383 5100
philip.j.secrett@uk.gt.com
David Benda / Hugh Jonathan
Numis Securities Limited, Broker
+44 (0)20 7260 1000
funds@numis.com