VNL Vinaland Limited

TIDMVNL

RNS Number : 5952K

VinaLand Limited

14 December 2018

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 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

RAGGGGBWPUPRGMC

(END) Dow Jones Newswires

December 14, 2018 12:41 ET (17:41 GMT)

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