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Share Name Share Symbol Market Type Share ISIN Share Description
Vietnam Enterprise Investments Limited LSE:VEIL London Ordinary Share KYG9361H1092 ORD USD0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -4.00 -0.67% 590.00 587.00 588.00 593.00 586.00 586.00 170,587 16:35:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -86.3 -39.2 - 1,303

Vietnam Enterprise Investments Ltd Reduction of Management Fee

23/02/2021 10:31am

UK Regulatory (RNS & others)


Vietnam Enterprise Inves... (LSE:VEIL)
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RNS Number : 0388Q

Vietnam Enterprise Investments Ltd

23 February 2021

COMPANY ANNOUNCEMENT

For Immediate Release

23 February 2021

Vietnam Enterprise Investments Limited

("VEIL" or the "Company")

REDUCTION OF MANAGEMENT FEE

Following an evaluation of the annual management fee and charging structure, and discussions with the Investment Manager, the Board of Vietnam Enterprise Investments Limited wishes to announce a reduction in fees.

With effect from 1 July 2021, the management fee will be amended to 1.85% per annum of Net Asset Value ("NAV") for the first US$1.25 billion of the Company's NAV, reducing to 1.65% per annum for NAV between US$1.25 billion and US$1.5 billion and further reducing to 1.50% per annum for NAV above US$1.5 billion. The Investment Manager is not entitled to a performance fee.

Stanley Chou, independent non-executive chair of the Company, commented:

"Over more than 25 years, Vietnam Enterprise Investments Limited has offered its investors access to one of the most exciting and dynamic markets in South East Asia. Since the inception of the Vietnamese stock market in 2000, VEIL has delivered a 20-year USD net CAGR of 11.9% (Source: Dragon Capital). This demonstrates that VEIL has represented good value to its long-term holders and we hope VEIL will continue to deliver value to our investors going forward."

Enquiries:

Vietnam Enterprise Investments Limited

Rachel Hill

Phone: +44 122 561 8150

Mobile: +44 797 121 4852

rachelhill@dragoncapital.com

Jefferies International Limited

Stuart Klein

Phone: +44 207 029 8703

stuart.klein@jefferies.com

Smithfield

George Yeomans

Phone: +44 20 3047 4065

gyeomans@smithfieldgroup.com

VEIL's LEI code is 213800SYT3T4AGEVW864

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(END) Dow Jones Newswires

February 23, 2021 05:31 ET (10:31 GMT)

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