22 Jul 2015 09:35
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.
22 July 2015
For Immediate Release
Vietnam Infrastructure Limited
("VNI" or the "Company")
Publication of Admission Document
The Board of VNI is pleased to announce that the Company has today published an AIM admission document dated 22 July 2015 (the "Admission Document") in relation to the admission of its Listed Portfolio Shares to trading on AIM as part of the restructuring proposals described in previous announcements (the "Proposals"). Admission of the Listed Portfolio Shares (AIM: VNIL) is expected to occur on 27 July 2015.
Pursuant to the Proposals, the listed and private equity components of the Company's portfolio were separated into two distinct pools, the Listed Portfolio and the Private Equity Portfolio respectively. Each pool of assets is represented by a separate share class. The Listed Portfolio assets were contributed, together with a cash subscription, to Forum One-VCG Partners Vietnam Fund ("VVF"), a newly established sub-fund of Forum One, a Luxembourg open-ended investment company or SICAV ("Forum One") in consideration for an issue by VVF of 10,242,350.55000 Class A VVF shares to the Company at the subscription price of US$10 per Class A VVF share.
On 21 July 2015, the Company's ordinary shares (AIM: VNI) were redesignated as Private Equity Shares and a bonus issue of a new class of Listed Portfolio Shares was undertaken, conditional upon Admission. As a result, each VNI shareholder on the Register at the Record date will hold an equal number of Private Equity Shares and Listed Portfolio Shares.
The Net Asset Value per share of the Listed Portfolio Shares is calculated by reference to the net asset value per Class A VVF Share multiplied by the number of Class A VVF Shares held by VNI plus the cash balance and any dividends and interest accruing of the Listed Portfolio Shares and less any outstanding liabilities of the Listed Portfolio Shares, divided by the number of issued Listed Portfolio Shares. The net asset value of the VVF Shares will be calculated on each VVF Valuation Day in accordance with the terms and conditions set out in the Forum One Prospectus, the VVF Data Sheet, and the VVF KIID. The net asset value of the Class A VVF Shares will be published on a daily basis on the following website: https://www.fundsquare.net/security/summary?idInstr=206664.
It is intended that the daily net asset value of the VVF Shares shall also be made available on EdR Asset Management's website at http://navcentre.edmond-de-rothschild.eu/fichescomm/selectnav.jsp?lang=2, the Investment Manager's website at http://www.vinacapital.com/, VinaWealth's website at http://www.vinawealth.vn/en/vinacapital-fund/, and the Company's website at http://vni-fund.com/. The Net Asset Value per share of the Private Equity Shares will be linked to the Private Equity Portfolio, which will continue to be valued in accordance with the Company's valuation policy and calculated by the Administrator each month.
Details of the Company's portfolio of assets, the Listed Portfolio Shares, VVF and Forum One (including their investment policies and restrictions) are set out in the Admission Document.
The Admission Document is available on the Company's website (http://vni-fund.com) and also for collection during normal business hours from the offices of Grant Thornton UK LLP, 30 Finsbury Square, London, EC2P 2YU and VinaCapital Investment Management Ltd, Unit 1703, Sun Wah Tower, 115 Nguyen Hue Boulevard, District 1, Ho Chi Minh City, Vietnam for a period of one month from the date of Admission.
Defined terms used in this announcement have the same meaning as ascribed to them in the Admission Document.
Enquiries
For further information, please contact:
Vietnam Infrastructure Limited Rupert Carington Tel: +44 (0)20 7845 5950
VinaCapital Group
Tony Hsun Tel: +84 8 3821 9930
Louie Doan Tel: +84 8 3821 9930
Edmond de Rothschild Securities (UK) Limited, Financial AdviserWilliam Marle Tel: +44 (0)20 7845 5950
John Armstrong-Denby Tel: +44 (0)20 7845 5950
Hiroshi Funaki Tel: +44 (0)20 7845 5960funds@lcfr.co.uk
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.