16 Jul 2015 16:01
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16 July 2015
For Immediate Release
Vietnam Infrastructure Limited
("VNI" or the "Company")
Restructuring Update and Timetable of Issue of Listed Portfolio Shares
The Company is pleased to provide an update on its Share Capital Restructuring Proposals that were originally outlined to the Company's shareholders in its announcement of 9 October 2014. The Vietnamese regulatory authorities have approved the contribution of VNI's listed securities portfolio to Forum One-VCG Partners Vietnam Fund. This contribution along with a cash subscription for VVF Shares was completed on 14 July 2015 and as a result, VNI currently holds 10,242,350.55 VVF Shares.
The Board has today agreed a timetable in relation to the final stages of the restructuring proposals. The expected timetable is outlined below:
Record Date | 21 July 2015 |
Effective Date | 21 July 2015 |
Ordinary Shares redesignated as Private Equity Shares | 21 July 2015 |
Publication of AIM admission document relating to the Listed Portfolio Shares
| 22 July 2015 |
Listed Portfolio Shares issued and admitted to trading on AIM | 27 July 2015 |
A circular setting out the detailed terms and conditions of the first of two tender offers proposed to be undertaken by the Company will be distributed to VNI shareholders on the same day as the admission of the Listed Portfolio Shares to trading on AIM.
The dates set out in the above timetable are subject to change at the discretion of the Company, in which event details of the revised dates will be notified to shareholders.
Defined terms used in this announcement have the same meaning as ascribed to them in the circular sent to shareholders dated 20 May 2015.
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.