VNL.L Regulatory News (VNL)

22 Mar 2007 07:00

VinaLand Limited22 March 2007 22 March 2007 VINALAND LTD. US$407 MILLION RAISED IN FUNDRAISING VinaLand Ltd. (the "Company", "VinaLand" or "VNL") (AIM:VNL), the investmentcompany admitted to trading on the AIM market of the London Stock Exchange plc,is pleased to announce that it has raised US$407,269,523 in its second roundfundraising (the "Fundraising"). Due to strong investor demand, the amount raised has surpassed the originaltarget of US$200 million set at the start of the Fundraising. The Fundraisingwas completed through the sale of 295,122,843 new ordinary shares at a price ofUS$1.38 per share. As a result of the Fundraising, the Company has 499,967,622ordinary shares in issue and its current market capitalisation is approximatelyUS$775 million. The funds raised will be used to implement the Company's investment strategy tobuild a diversified portfolio of prime real estate assets spread throughoutVietnam's key population centres. Since VNL's admission to AIM in March 2006, its investment manager, VinaCapitalInvestment Management Limited ("VinaCapital") has created a substantial pipelineof potential projects across Vietnam that focus on the residential, retail,commercial office, and leisure property markets. Strong economic growth inVietnam, a young and dynamic population and developing real estate laws thatprotect local and foreign occupiers of landed property are creating substantialdemand across all areas of the real estate market. Don Lam, Managing Partner and Co-Founder of VinaCapital commented: "We are delighted by the response received from investors throughout theVinaLand fundraising. It is a clear reflection of their belief in the companyand of the continued strength of both the Vietnamese economy and the country'sreal estate sector. Government initiatives to stimulate the real estate sector,including planning reforms and improved access for foreign investment, willenable VinaLand to take advantage of the many investment opportunities thesector has to offer." As a result of the Fundraising, the following information is required to bedisclosed in accordance with Rule 17 of the AIM Rules for Companies (the "AIMRules"): Mr. Horst Geicke, a director and the Chairman of the Company, has subscribed foran additional 1,750,000 ordinary shares through Commerzbank (South East AsiaLtd) and BNP Paribas Nominees. This additional subscription brings Mr. Geicke'stotal shareholding to 2,750,000 ordinary shares, representing approximately0.55% of the Company's total voting rights. Mr. Don Lam, a director of the Company, has subscribed for an additional 800,000ordinary shares through Hibernian Industries Ltd.. This additional subscriptionbrings Mr. Lam's total shareholding to 1,162,250 ordinary shares, representingapproximately 0.23% of the Company's total voting rights. Mr. Nguen Khoong Tong, a director of the Company, has subscribed for anadditional 377,500 ordinary shares through SJ Asset Management. This additionalsubscription brings Mr. Tong's total shareholding to 798,500 ordinary shares,representing approximately 0.16% of the Company's total voting rights. Mr. Bruno Schoepfer, a director of the Company, has subscribed for 300,000ordinary shares through BNP Paribas Nominees representing approximately 0.06% ofthe Company's total voting rights. Mr. Nicholas Brooke, a director of the Company, has subscribed for an additional50,000 ordinary shares through LGT Bank. This additional subscription bringsMr. Brooke's total shareholding to 150,000 ordinary shares, representingapproximately 0.03% of the Company's total voting rights. The Company is aware that the following shareholders have subscribed for morethan 3% of the new ordinary shares offered in the Fundraising: Registered Shareholder Total voting rights of the Company Turbic Inc. 5.16%HSBC Bank PLC 4.60%Berggruen Holdings Ltd. 4.17%ABN Amro Nominees Singapore Pte. Ltd. 4.13%PBU-Paedagogernies Pensiunkassie 4.12%Bank Julius Baer Co. Ltd. 4.06%SJ Asset Management Sdn Bhd 3.41% The shareholdings of existing substantial shareholders may change following theissue of the new ordinary shares. The Company will issue a notification at alater date if it becomes aware of any relevant changes in such shareholdingsthat are required to be notified in accordance with Rule 17 of the AIM Rules. Application has been made for the 295,122,843 new ordinary shares to be admittedto trading on the AIM market of the London Stock Exchange plc. Admission totrading is expected to take place on Tuesday, 27 March 2007. About VinaLand Limited VinaLand Limited (AIM: VNL) is a closed-end property investment company admittedto trading on the AIM market of the London Stock Exchange plc. Admitted totrading in March 2006, the company focuses on key growth segments withinVietnam's emerging real estate market, namely residential, office, retail,industrial, and leisure projects. VinaLand is managed by VinaCapital InvestmentManagement Limited ("VinaCapital"), a fund management and advisory businessoperating out of offices in Ho Chi Minh City and Hanoi. VinaCapital Real EstateLimited acts as development adviser to VinaCapital. For more information, please contact: Ms. Chi Nguyen Investor Relations, VinaCapital Tel: + 84 8 821 9930 chi.nguyen@vinacapital.com, ir@vinacapital.com Simon Moyse/ Brian Cattell/Talia Druker Finsbury Group Tel: +44 (0) 20 7251 3801 Hiroshi Funaki LCF Rothschild Country Funds Research Tel: +44 (0) 207 7845 5968 Philip Secrett Grant Thornton Corporate Finance Tel: +44 (0) 870 991 2578 This information is provided by RNS The company news service from the London Stock Exchange