TIDMVNI
RNS Number : 4512V
Vietnam Infrastructure Limited
31 January 2017
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.
31 January 2017
For Immediate Release
Vietnam Infrastructure Limited
(the "Company")
Distribution to Holders of Private Equity Shares
The Board of Directors of the Company is pleased to announce an
aggregate distribution to Private Equity Shareholders (the
"Shareholders") of US$65 million (the "Distribution") representing
US$0.1856 (rounded up to 4 decimal places) for each Private Equity
Share currently in issue (the "Applicable Distribution Amount").
The Company has published a distribution circular that will be sent
to Shareholders today which sets out the terms and conditions of
the Distribution in more detail. The Record Date for the
Distribution is Friday 24 February.
As explained in the Admission Document, the Company's current
investing policy in relation to the Private Equity Portfolio is to
seek to realise its Private Equity Portfolio investments at the
best available value and in a reasonable timeframe with a target
exit date of no later than 30 June 2017. The proceeds from the sale
of investments in the Private Equity Portfolio and surplus net
cash-flows will be distributed to the shareholders of the Private
Equity Shares on a periodic basis.
Following the divestment of the major Private Equity Portfolio
investments, the Board has resolved to declare a second
distribution to Shareholders.
Shareholders entitled to receive the Distribution may elect to
receive their Applicable Distribution Amount in "Cash Only" OR, if
they are Eligible Shareholders, may 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
subscription for such number of VVF shares including fractions (at
the then current net asset value of a VVF Share) will equal to the
relevant Applicable Distribution Amount (rounded down to three
decimal places).
Please note that if a Shareholder does not make a valid Election
for "Cash Only" they will receive VVF Shares. Please also note that
any Elections made for "VVF Shares Only" that are received from
Shareholders who are not Eligible Shareholders will be rejected and
the Applicable Distribution Amount will be settled in cash.
The timetable for the Distribution is as follows:
2017
------------------------------------------- ----------------------
Private Equity Shares trade ex-entitlement Thursday 23 February
to the Distribution
------------------------------------------- ----------------------
Distribution Record Date 6.00 p.m. (UK
time)
on Friday 24
February
------------------------------------------- ----------------------
Latest time and date for receipt 5.00 p.m. (Luxembourg
of any required anti-money laundering time) on Friday
and know your customer compliance 24 February
documents
------------------------------------------- ----------------------
Latest time and date for receipt 5.00 p.m. (Singapore
of Election Forms and Transfer Forms time) on Monday
27 February
------------------------------------------- ----------------------
Results of the Distribution announced Wednesday 1 March
------------------------------------------- ----------------------
Settlement Date for the Distribution Tuesday 14 March
------------------------------------------- ----------------------
It is expected that Eligible Shareholders who submit valid
Election Forms and Transfer Forms and who have elected to receive
"VVF Shares Only" 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.
The distribution circular that will be sent to Shareholders
today will contain the formal terms and conditions of the
Distribution, together with details of how holders of Private
Equity Shares can elect to receive their Applicable Distribution
Amount in "Cash Only" or "VVF Shares Only". A copy of the
distribution circular will also be available on the Company's
website http://vni-fund.com.
Whether Shareholders elect to receive their Applicable
Distribution Amount in "Cash Only" OR elect to receive "VVF Shares
Only" will depend on each Shareholder's circumstances and is a
decision which each Shareholder must make for itself in light of
its individual financial and tax circumstances and personal
investment objectives.
The above times and/or dates may be subject to change and, in
the event of such change, the revised times and/or dates will be
notified to the Shareholders by an announcement through a
Regulatory Information Service of the London Stock Exchange.
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 7845 5950
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
This announcement does not constitute a listing document,
prospectus, offering memorandum, or offer or solicitation to any
person in the United States or any other jurisdiction to purchase
or sell any investment. No information set out in or referred to in
connection with this announcement is intended to form the basis of
any contract of sale, investment decision or any decision to
purchase any securities, nor should such information be construed
as providing financial, investment or other professional advice.
This announcement should not be considered by the recipient as a
recommendation relating to the acquisition or disposal of
investments. It is recommended that recipients of this announcement
seek their own independent legal, tax, financial and other advice.
This announcement does not contain sufficient information to
support an investment decision and investors should ensure that
they obtain all available relevant information before making any
investment.
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements". In some cases, such
forward-looking statements can be identified by the use of
forward-looking terminology, including the terms "targets",
"believes", "estimates", "anticipates", "expects", "intends",
"may", "will" or "should" or, in each case, their negative or other
variations or comparable terminology. Any forward-looking
statements are only made as at the date of this announcement, and
the Company neither intends nor assumes any obligation to update
forward-looking statements set forth in this announcement whether
as a result of new information, By their nature, forward-looking
statements involve risks and uncertainties because they relate to
events and depend on circumstances that may or may not occur in the
future. Forward-looking statements are not guarantees of future
performance. The Company's actual performance, results of
operations, financial condition, liquidity and distributions to
shareholders may differ materially from the impression created by
any forward-looking statements contained in this announcement.
The opinions expressed are those held by the Company at the date
of this announcement and are subject to change. Neither the Company
nor any of its affiliates accept any liability or responsibility
whatsoever for the accuracy or completeness of, nor make any
representation or warranty (express or implied) with respect to,
the information contained in these materials or any publicly
available information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCWGUGUGUPMGUU
(END) Dow Jones Newswires
January 31, 2017 02:00 ET (07:00 GMT)
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