Vietnam Infrastructure Limited Successful Divestment of Last Remaining Asset (4224M)
31 Julho 2017 - 5:22AM
UK Regulatory
TIDMVNI
RNS Number : 4224M
Vietnam Infrastructure Limited
31 July 2017
31 July 2017
Vietnam Infrastructure Limited ('the Company' or 'VNI')
Successful Divestment of Last Remaining Asset
Ho Chi Minh City, Vietnam - Vietnam Infrastructure Limited, the
AIM-quoted investment vehicle established to target infrastructure
and related investments within Vietnam's emerging market, is
pleased to announce that the Company has successfully divested 100%
of its stake from its last remaining asset, the in-building
cellular enhancement systems ("IBS"), to VIBS Pte. Ltd. (a
consortium formed by JTOWER Inc. and the South East Asia Growth
Fund) and a local investor.
The Company will receive total cash proceeds of approximately
USD10.2 million within the next 10 business days. The sale proceeds
are at a slight premium to the unaudited net asset value (NAV) of
USD9.9 million as at 30 June 2017.
Following the divestment, the Company will make a distribution
to shareholders prior to the commencement of the voluntary solvent
liquidation process. Further details of the distribution will be
released in a separate announcement shortly. The Company will also
convene a general meeting to vote on resolutions regarding the
commencement of the voluntary solvent liquidation of the Company
and cancel the admission of the Company's shares from trading on
AIM, all of which the Company intends to conclude by the end of
2017.
VNI Managing Director Tony Hsun stated, "I am very pleased that
with the sale of IBS, the Company has successfully completed its
divestment strategy. The aggregate net proceeds received from the
sales of the private equity assets exceeded the hurdle amount
approved by the Company's shareholders."
Enquiries:
Jonathan Luu / Joel Weiden
VinaCapital Investment Management Limited
Investor Relations / Communications
+84 28 3821 9930
Jonathan.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
This information is provided by RNS
The company news service from the London Stock Exchange
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July 31, 2017 04:22 ET (08:22 GMT)
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