VinaCapital Vietnam Dividend Policy

 
TIDMVOF 
 
VinaCapital Vietnam Opportunity Fund Limited (the "Company") 
 (a closed-ended investment company incorporated with limited liability under 
              the laws of Guernsey with registered number 61765) 
 
                                Dividend Policy 
 
                                17 August 2017 
 
Following consultations with the major shareholders of, and advisers to, 
VinaCapital Vietnam Opportunity Fund Limited ("VOF" or the "Company"), the 
Board of Directors has decided to amend VOF's dividend policy. 
 
With immediate effect, the Board intends that the Company will pay a dividend 
twice per year, normally declared in March and October. Exceptionally, the 
Company is today making a separate announcement in respect of its first 
dividend declaration. 
 
The change in the dividend policy reflects various factors related both to the 
development of the Vietnamese capital markets and to VOF itself. These factors 
include: 
 
  * The flow of dividend income received by the Company from its underlying 
    investments is relatively stable and is expected to grow over time. 
 
  * The Board's intention to introduce a further measure to help control the 
    level of the share price discount to net asset value by broadening the 
    shareholder base to equity investors who will only consider companies which 
    provide regular dividend income. 
 
It is the intention of the Board to declare semi-annual dividends for the 
foreseeable future of an amount of at least 4.8 US cents per share, or the 
equivalent in UK pence. This amount is approximately equal to 1 per cent of 
VOF's unaudited net asset value at 30 June 2017. As and when circumstances 
permit, it is the Board's intention to increase the dividend. 
 
Dividend payments will not necessarily be fully covered by income and, as such, 
may represent a return of capital to shareholders. 
 
Dividends will be declared in US dollars, which is the Company's functional 
currency. Shareholders may opt to have dividends paid in either US dollars or 
in Pounds sterling, which is the currency in which the Company's share price is 
quoted on the London Stock Exchange. By default, shareholders with registered 
addresses in the UK and Channel Islands will receive dividends in sterling. 
Shareholders registered in other jurisdictions will receive dividends in 
dollars. Shareholders may, however, inform the registrars that they wish to 
receive their dividends in either currency and the procedure for informing the 
Company's registrars is set out in today's first dividend announcement. 
 
Shareholders should note that the change in dividend policy is in addition to 
the Company's share buyback programme, which has been the primary mechanism for 
attempting to control the share price discount to net asset value. 
 
Enquiries 
 
Jonathan Luu / Joel Weiden 
VinaCapital Investment Management Limited 
Investor Relations 
[phone] 
[e-mail] / [e-mail] 
 
Edward Gascoigne-Pees 
Camarco (Public Relations, London) 
[phone] 
[e-mail] 
 
David Benda / Hugh Jonathan 
Numis Securities Limited, Broker 
[phone] 
[e-mail] 
 
Franczeska Hanford / Andy Dovey 
Northern Trust International Fund Administration Services (Guernsey) Limited, 
Company Secretary 
[phone] 
[e-mail] 
 
Stephen Westwood 
[phone] 
 
 
 
END 
 

(END) Dow Jones Newswires

August 17, 2017 02:00 ET (06:00 GMT)