15 Dec 2014 17:03
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15 December 2014
For Immediate Release
Vietnam Infrastructure Limited
Result of Extraordinary General Meeting
Vietnam Infrastructure Limited ('VNI' or the 'Company') announces that at the Extraordinary General Meeting, held today, all of the resolutions were approved by the requisite majority. The table below provides the detailed voting results for each separate resolution.
Terms have the same meaning as defined in the circular to shareholders dated 21 November 2014.
With resolutions 1 to 4 being ordinary resolutions and resolution 5 being a special resolution. | ||||
1. With effect from the Effective Date, (i) redesignate the existing authorised share capital of the Company into Private Equity Shares and Listed Portfolio Shares; and (ii) authorise a bonus issue of new Listed Portfolio Shares on a one-for-one basis to existing Shareholders on the Record Date | ||||
FOR | %* | AGAINST | %* | VOTE WITHELD |
196,416,586 | 96.0% | 8,122,500 | 4.0% | 0 |
2. Subject to Resolution 1 being passed, approval of the Proposals relating to the restructuring of the Company | ||||
FOR | %* | AGAINST | %* | VOTE WITHELD |
196,529,086 | 96.1% | 8,010,000 | 3.9% | 0 |
3. Conditionally upon Admission of the Listed Portfolio Shares to trading on AIM becoming effective, the adoption of a new investing policy of the Company in relation to the Private Equity Portfolio | ||||
FOR | %* | AGAINST | %* | VOTE WITHELD |
196,529,086 | 96.1% | 8,010,000 | 3.9% | 0 |
4. Subject to Resolution 1 above being passed, the adoption of a new investing policy in relation to the Listed Portfolio, (i) that shall apply between the date of the passing of the relevant resolution and the date of Admission, and (ii) that shall apply from Admission to the date of the delisting of the Listed Portfolio Shares | ||||
FOR | %* | AGAINST | %* | VOTE WITHELD |
196,416,586 | 96.1% | 8,010,000 | 3.9% | 112,500 |
5. With effect from the Effective Date, adopt the New Articles which set out the rights of the Private Equity Shares and the Listed Portfolio Shares. | ||||
FOR | %* | AGAINST | %* | VOTE WITHELD |
196,416,586 | 96.1% | 8,010,000 | 3.9% | 112,500 |
*Percentage of votes cast excludes withheld votes.
The application for the authorisation of VVF (the formal name of which is expected to be Forum One - VCG Partners Vietnam Fund as VVF will be a sub-fund of Forum One, an existing Luxembourg open-ended investment company) has been submitted to the CSSF and is expected to be approved in the first quarter of 2015.
Shareholders should note that, as described in the Circular, the redesignation of the existing Ordinary Shares as Private Equity Shares, the bonus issue of the new Listed Portfolio Shares, and the adoption of the New Articles will occur on the Effective Date. The implementation of the Amended IMA is also conditional on Admission. However, the investment policy of VNI has now been amended in respect of VNI's Listed Portfolio, as described in the Circular. The re-alignment of the Listed Portfolio, so that it complies with the investment policy of VVF at the time of VVF's launch, can now commence.
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