14 Dec 2018 17:41
14 December 2018
VinaLand Limited (the "Company" or "VNL")
Results of the 2018 Annual General Meeting (AGM)
Director Resignations
VinaLand Limited ('the Company' or 'VNL'), announces that at its AGM held earlier today, all resolutions proposed at the AGM were passed, other than the resolution proposed in relation to the approval of the cancellation of the quotation of the Company's ordinary shares from trading on AIM (the "Delisting Resolution"), which was not passed.
Consequently, trading in the Company's ordinary shares on AIM will now not be cancelled on 24 December 2018.
As highlighted in the Company's notice of AGM circular of 20 November 2018, Charles Isaac and Tran Trong Kien, have today resigned and will step down as directors with immediate effect.
The Directors of VNL intend to consider the result of today's AGM with the Company's advisers and investigate further the reasons for the votes cast against the Delisting Resolution through consultation with shareholders who voted against the Delisting Resolution and will consider feedback accordingly.
Voting was conducted by a show of hands and inclusive of votes received by the Company by way of proxy. The table below provides the detailed proxy voting results for each separate resolution.
AGM RESOLUTIONS | For | %* | Against | %* | Vote withheld |
All of the Resolutions are ordinary resolutions | |||||
Resolution 1 - Ordinary Resolution To receive and adopt the financial statements for the year ended 30 June 2018, with the reports of the directors and auditors thereon.
|
32,398,317 |
100%
|
|
0%
|
19,953,040 |
Resolution 2 - Ordinary Resolution To re-appoint PricewaterhouseCoopers (Hong Kong) as independent auditor to the Company and to authorise the Directors to determine their remuneration.
|
32,398,317 |
100% |
|
0% |
19,953,040 |
Resolution 3 - Special Resolution That the cancellation of the admission of the Company's ordinary shares of USD0.01 each to trading on AIM, a market operated by the London Stock Exchange plc, be and is hereby approved and that the directors of the Company be and are hereby authorised to take all steps which are necessary or desirable in order to effect such cancellation. |
29,442,688 |
56.2% |
22,908,669 |
43.8% |
|
More information on the Company is available at www.vnl-fund.com.
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For enquiries:
Jonathan Viet Luu / Joel Weiden VinaCapital Investment Management LimitedInvestor Relations / Communications+84 28 3821 9930jonathan.luu@vinacapital.com / joel.weiden@vinacapital.com
Philip Secrett
Grant Thornton UK LLP, Nominated Adviser
+44 (0)20 7383 5100
philip.j.secrett@uk.gt.com
David Benda / Hugh Jonathan
Numis Securities Limited, Broker
+44 (0)20 7260 1000
funds@numis.com
VNL.L (VNL)