Vietnam Infrastructure Limited Notice of Cancellation, Cash Distribution and EGM (9180O)

TIDMVNI

RNS Number : 9180O

Vietnam Infrastructure Limited

25 August 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.

25 August 2017

For Immediate Release

Vietnam Infrastructure Limited

(the "Company")

Notice of Cancellation, Cash Distribution and Extraordinary General Meeting

Following the divestment of the last remaining Private Equity Portfolio investments, the Board of Directors of the Company are pleased to announce an aggregate cash distribution to Private Equity Shareholders (the "Shareholders") of US$12.6 million (the "Distribution") representing US$0.0361 for each Private Equity Share of US$0.01 each ("Private Equity Shares") currently in issue. The Record Date for the Distribution is Friday 29 September.

In conjunction with the Distribution, the Company announces that it has today published a circular (the "Circular") including a Notice of Extraordinary General Meeting setting out details of the recommended proposals for the voluntary winding up of the Company under the laws of the Cayman Islands, the appointment of joint liquidators and the cancellation of admission of the Private Equity Shares to trading on AIM (the "Resolutions"). The Extraordinary General Meeting of the Company (the "EGM") will take place on 9 October 2017 at 2.30 p.m. UK time at which Shareholders will be asked to approve the Resolutions. Further details of the EGM and the Resolutions are contained in the Circular that will be sent to Shareholders today. A copy of the Circular will also be available on the Company's website http://vni-fund.com

Subject to the passing of the Resolutions by the requisite majority, admission of the Private Equity Shares to trading on AIM will be cancelled with effect from 7.00 a.m. on 10 October 2017, following which the Company's Private Equity Shares will no longer be tradeable.

The Private Equity Shares will be suspended from trading at 7.30 a.m. on 9 October 2017 in advance of the EGM, as the commencement of the liquidation process will render the Company inappropriate for admission to trading on AIM. No mechanism to enable Private Equity Shares to be traded following cancellation will be made available to shareholders and the Private Equity Shares will not be transferable once the Company enters liquidation without the consent of the liquidators.

The expected timetable for the Distribution and the EGM is as follows:

 
                                                   2017 
                         ------------------------------ 
 Ex-entitlement                  Thursday, 28 September 
  Date for Distribution 
  and EGM 
 Record Date for                 6.00 p.m. (UK time) on 
  Distribution and 
  EGM 
----------------------- 
                                   Friday, 29 September 
-----------------------  ------------------------------ 
 Latest time and          5.00 p.m. (Singapore time) on 
  date for receipt 
  of Forms of Proxy 
  and bank account 
  confirmation 
----------------------- 
                                 Thursday, 28 September 
-----------------------  ------------------------------ 
 Distribution Date                    Monday, 2 October 
                         ------------------------------ 
 Settlement Date                    Thursday, 5 October 
                         ------------------------------ 
 Last day of dealings                 Friday, 6 October 
  of Private Equity 
  Shares on AIM 
-----------------------  ------------------------------ 
 Suspension of the               7:30 a.m. (UK time) on 
  Private Equity 
  Shares from trading 
  on AIM 
----------------------- 
                                      Monday, 9 October 
-----------------------  ------------------------------ 
 Time and Date of                2.30 p.m. (UK time) on 
  EGM 
----------------------- 
                                      Monday, 9 October 
-----------------------  ------------------------------ 
 Announcement of                      Monday, 9 October 
  results of EGM 
                         ------------------------------ 
 Appointment of                       Monday, 9 October 
  Joint Liquidators 
                         ------------------------------ 
 Cancellation of                 7:00 a.m. (UK time) on 
  trading on AIM 
                                    Tuesday, 10 October 
                         ------------------------------ 
 

A bank account confirmation letter, which will be sent to Shareholders today, will contain the details of how registered Shareholders can nominate a bank account to receive their entitled distribution amount.

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.

Enquiries

For further information, please contact:

Vietnam Infrastructure Limited

Rupert Carington Tel: [phone]

VinaCapital Investment Management Limited

Tony Hsun Tel: [phone]

Numis Securities Limited, Broker

David Benda / Hugh Jonathan Tel: [phone]

[e-mail]

Grant Thornton UK LLP, Nominated Adviser

Philip Secrett Tel: [phone]

[e-mail]

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

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August 25, 2017 02:00 ET (06:00 GMT)