1 Mar 2017 16:45
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.
1 March 2017
For Immediate Release
Vietnam Infrastructure Limited
(the "Company")
Result of Distribution to Holders of Private Equity Shares
The Company announces today the election results of its distribution of US$65 million (the "Distribution") representing US$0.1856 (rounded up to 4 decimal places) for each Private Equity Share currently in issue to Private Equity Shareholders (the "Shareholders").
As set out in the distribution circular dated 31 January 2017, Shareholders entitled to receive the Distribution were able to elect to receive their Applicable Distribution Amount in "Cash Only" OR, if they were Eligible Shareholders, were able to elect to have the Company apply their Applicable Distribution Amount in subscribing for "VVF Shares Only" in the Company's name, and then transfer such VVF Shares to the relevant Eligible Shareholder (the "Election"). The deadline for submitting completed and signed Election Forms and, if applicable, Transfer Forms to Standard Chartered Bank, Securities Services - Fund Services was 5:00 pm Singapore time on Monday, 27 February 2017. Based on the Election Forms and Transfer Forms that were validly submitted 81.0 per cent. of the Distribution, totalling US$52.7 million, will be paid in the form of a cash payment, and the remaining 19.0 per cent. of the Distribution, totalling US$12.3 million, will be applied by the Company in subscribing for VVF Shares in the Company's name (rounded down to three decimal places), and then transferred to the relevant Eligible Shareholder.
Shareholders' accounts (including those held through Euroclear and/or Clearstream) will be credited with cash and/or with VVF Shares on or around the Settlement Date, which is Tuesday, 14 March 2017. Please note that Eligible Shareholders who submit valid Election Forms and Transfer Forms and who have elected to receive VVF Shares and who have provided all required anti-money laundering and know your customer compliance documents will receive confirmation in writing from EdR Asset Management (as administration agent for VVF) that their VVF Shares are registered in their name by the Settlement Date but no certificates representing the VVF Shares will be issued.
Shareholders who have received VVF Shares can redeem all or part of their shareholding by applying to redeem their VVF Shares in accordance with the requirements set out in the Forum One Prospectus and VVF Data Sheet. VVF Shares can be redeemed on each Valuation Day, or the following Valuation Day if such day is not a Valuation Day (the "Redemption Day"). A Valuation Day is each business day in Luxembourg and Vietnam with the exception of Good Friday, 24 December (Christmas Eve) and any other day on which the stock exchanges in Vietnam are closed. Redemption forms must be received by EdR Asset Management by 6:00 pm Luxembourg time three (3) business days before the relevant Redemption Day. A copy of the most recent Forum One Prospectus, VVF Data Sheet and VVF investor pack with the relevant redemption forms are available on the website of VinaWealth Fund Management JSC (the investment manager to VVF) at http://www.vinawealth.vn/en/vinacapital-fund/.
Defined terms used in this announcement have the same meaning as ascribed to them in the distribution circular to Shareholders dated 31 January 2017.
Enquiries
For further information, please contact:
Vietnam Infrastructure Limited Rupert Carington Tel: +44 (0)20 7260 1000
VinaCapital Investment Management Limited
Tony Hsun Tel: +84 8 3821 9930
Numis Securities Limited, Broker
David Benda / Hugh Jonathan Tel: +44 (0)20 7260 1000
funds@numis.com
Grant Thornton UK LLP, Nominated Adviser Philip Secrett Tel: +44 (0)20 7383 5100
philip.j.secrett@uk.gt.com