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VNF Pxp Vietnam

6.425
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pxp Vietnam LSE:VNF London Ordinary Share KYG7301W1033 ORD USD0.05
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.425 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

PXP Vietnam Fund Limited Notice of Merger (5832D)

30/01/2015 7:40am

UK Regulatory


Pxp Vietnam (LSE:VNF)
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From Mar 2019 to Mar 2024

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TIDMVNF

RNS Number : 5832D

PXP Vietnam Fund Limited

30 January 2015

PXP Vietnam Fund Limited

30 January 2015

Merger between PXP Vietnam Fund Limited and PXP Vietnam Emerging Equity Fund Limited

A letter is today being sent to shareholders of PXP Vietnam Fund Limited ("PXPVF") and PXP Vietnam Emerging Equity Fund Limited ("VEEF") to give notice of the completion of the merger of these two companies (the "Merger") with effect from 2 February 2015.

The Board of Directors of each of PXPVF and VEEF sent circulars to Shareholders of the respective companies on 26 November 2014 and 5 December 2014 respectively (the "Circulars") which set out the proposal for a merger of PXPVF and VEEF.

The Shareholders of PXPVF approved the Merger by passing a special resolution at the Extraordinary General Meeting held on 17 December 2014 and the holders of management shares of VEEF approved the Merger on the same date. Accordingly the Merger has been approved by the Boards and voting Shareholders of PXPVF and VEEF in accordance with the provisions of the Cayman Islands Companies Law (2013 Revision).

The Registrar of Companies of the Cayman Islands has issued a Certificate of Merger to confirm that the Merger will be effective from 2 February 2015.

Share Exchange

As set out in the Circulars, the surviving entity in the Merger is VEEF, and so VEEF Shareholders continue to hold their Participating Shares on exactly the same terms as before.

PXPVF Ordinary Shares will be cancelled by operation of law in return for the issue to PXPVF Shareholders of new Participating Shares in VEEF based on a share exchange ratio which is calculated on the basis of the respective net asset value ("NAV") per Participating Share of the Lead Series shares of VEEF and the NAV per Ordinary Share of PXPVF on the valuation date of 31 December 2014.

The NAV per Participating Share of the Lead Series shares of VEEF at 31 December 2014 was US$6.089 and the NAV per Ordinary Share of PXPVF at 31 December 2014 was US$6.569. Therefore each PXPVF Shareholder will receive in registered form and will be the owner with effect from 2 February 2015 of 1.078830 Participating Shares in VEEF for each PXPVF Ordinary Share currently held.

The Participating Shares to be issued to former Shareholders of PXPVF will be in Series 1C. The ISIN for the Participating Shares in Series 1C is KYG7306V1344.

All Shareholders will receive statements of their holdings from the Fund Administrator in early February 2015.

Redemptions

The first redemption dealing day for former PXPVF Shareholders who wish to redeem their VEEF Shares at NAV minus a 3% redemption fee is 1 April 2015, provided that a redemption notice (indicating the number of Shares to be redeemed or "full redemption") is received by the Fund Administrator by the redemption dealing deadline of 5pm (Hong Kong time) on 10 February 2015. The next available redemption dealing day is 4 May 2015, with the redemption dealing deadline expected to be 11 March 2015.

A copy of the letter dated 30 January 2015 can be obtained on the website of PXP Vietnam Asset Management: http://pxpam.com/wp-content/uploads/2015/01/VEEF-PXPVF-Notice-of-Merger-30-Jan-2015.pdf

The letter has been submitted to the National Storage Mechanism and will shortly be available for viewing online at the following website address: http://www.hemscott.com/nsm.do

For further information please contact:

PXP Vietnam Asset Management

Kevin Snowball

Tel: +84 (0)8 3827 6040

khsnowball@pxpam.com

ir@pxpam.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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