Strategic Review and Net Asset Value Update

    RNS Number : 7895G
  SGL Vietnam Development Limited
  28 October 2008
   

    SGL Vietnam Development Limited (the 'Company')

    Strategic Review and Net Asset Value Update


    Further to the Company's announcement on 15 August 2008, the Directors wish to provide an update to shareholders on the current status
of its strategic review. 

    Ongoing discussions are being held internally and with the Company's largest shareholders. The Directors are seeking to progress matters
as quickly as possible. 

    Should a realisation of the Company's assets and a return of these funds to shareholders be deemed the most appropriate route, the
Directors will seek to effect this via a process which would be subject to shareholder approval at an Extraordinary General Meeting.

    The Company's unaudited net asset value as at 30 September 2008 was US$2.59 per share (31 July 2008: $2.60 per share, 30 June: $2.61 per
share) and at that date had cash balances of approximately $27.7 million.

    For further information, please contact:



    Collins Stewart
    Adrian Hadden, Stewart Wallace: [phone]

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
MSCFEUFMWSASEDS