17 Mar 2009 09:40
17 March 2009
For immediate release
VinaLand Limited
Director Resignation
and
Appointment of New Non-Executive Director
The Board of Directors ("the Board") of VinaCapital's VinaLand Limited ("the Company"), an investment company established to target key growth segments within Vietnam's emerging real estate market, announces that Mr. N.K.. Tong has resigned as a Non-executive Director of the Company with immediate effect to devote more time to his duties as Group Managing Director of Bukit Kiara Properties (BKP), a premier real estate developer of lifestyle homes in Kuala Lumpur, Malaysia.
Mr. Tong is a residential sector specialist who helped grow the Company's portfolio of residential development projects.
Commenting on the resignation of Mr. Tong, Mr. Horst Geicke said "The Board and the investment manager would like to express their sincere gratitude to Mr. Tong for his contribution to the Company during his tenure. Since the Company's inception, he has delivered valuable experience and commercial insight that will continue to serve the Company well. On behalf of the Board, I would like to wish him well as he devotes more time to the expansion of his business, and he leaves the Company with our best wishes".
The Board welcomes Mr. Michael Ian Arnold, aged 64, as a new Independent Non-executive Director effective from 17 March 2009.
Michael is a former executive director of Hongkong Land, a leading property investment, management and development group based in Hong Kong, where he spent 24 years managing all project developments in Hong Kong and Asia, including China, Philippines, Vietnam, Thailand, Singapore, Malaysia and Australia.
Commenting, Horst F. Geicke, Chairman of VinaLand Limited, said: "I am delighted to welcome Michael to the Board. His unique knowledge and experience of Asian markets will be of great value as we continue to establish ourselves as the leading foreign investor and developer in Vietnam's emerging real estate sector".
For more information please contact:
| Ms Chi Nguyen VinaCapital Investment Management Limited Investor Relations | +84 8 821 9930 chi.nguyen@vinacapital.com |
| Philip Secrett Grant Thornton UK LLP Nominated Adviser | +44 20 7383 5100 philip.j.secrett@gtuk.com |
| Hiroshi Funaki LCF Edmond de Rothschild Securities | +44 20 7845 5960 funds@lcfr.co.uk |
| David Cranmer Financial Dynamics | +44 20 7831 3113 david.cranmer@fd.com |
About Vinaland
VinaLand Limited (VNL.L) is a closed end fund trading on the London Stock Exchange (AIM). Launched in 2006, VNL is the largest listed fund for investment in Vietnam's emerging real estate sector. The fund focuses on the key growth sectors including residential, office, retail, hospitality and leisure, and high tech/industrial properties. The manager's objective is to provide shareholders with an attractive level of income as well as creating a potential for capital growth.
About VinaCapital Group
VinaCapital Group is the leading asset management and financial services group in Vietnam. The Group combines its deep market experience and networks to generate strategic investment and financing products, alongside merger and acquisition activities. VinaCapital manages total assets valued at almost USD2 billion three listed and one LP fund. VinaCapital also has a dominant stake in VinaSecurities JSC, a brokerage firm. VinaCapital currently employs over 180 investment personnel in its offices in Ho Chi Minh City, Hanoi, Danang, Nha Trang and Hong Kong. More information on the Group can be found at www.vinacapital.com.
About Michael Arnold
Mr. Michael Arnold was born in 1944. He was educated at School of Architecture, North London and College of Estate Management. He is F.H.K.I.S. and A.R.I.C.S. qualified. For the past six years, he has been providing advisory services to property industry clients, including Gammon Construction, Hongkong Land and Qatar Foundation.
| Current Directorships | Past Directorships (within the last five years) |
| Arnco Limited | HD Engineering |
| Goodage Investment Ltd | Heep Hong Society |
| The Link REIT | |
| Oxyvital Ltd | |
| The Business Environment Council | |
| HK BEAM Society |
The Company confirms there is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules.