20 May 2016
VinaCapital Vietnam Opportunity Fund
Limited (“the Company” or “VOF”)
Divestment of stake in Danang Golf Project
Ho Chi Minh City – VinaCapital
Vietnam Opportunity Fund Limited, a London Stock Exchange Main
Market traded investment company established to target key growth
segments in Vietnam, announces
that it is divesting its stake in the Danang Golf Project. The
project, acquired in 2006, is situated in Danang on 219.8ha of land
and includes a completed 18-hole golf course with related
facilities as well as residential dwellings, some of which are
currently under construction. The project site also has an approved
master plan for future development.
VOF will dispose of its entire stake to An Phu Import Export
Investment and Trading Company Limited at a total valuation 2.0%
above the 28 February 2016 unaudited
net asset value. This transaction will result in net cash proceeds
of USD12.2 million to VOF. At
the time of this announcement approximately USD11.0 million of the proceeds have been
received, with the remaining proceeds expected to be received
by no later than July 2016.
VOF Managing Director Andy Ho
said, “Over the past few weeks, we’ve made great strides in
reducing our direct investments in real estate and look forward to
putting the proceeds to work in those asset classes and sectors
where we see greater opportunities for significant growth.
Enquiries:
Jeremy Greenberg
VinaCapital Investment Management Limited
Investor Relations
+84 8 3821 9930
jeremy.greenberg@vinacapital.com
Joel Weiden
VinaCapital Investment Management Limited
Communications
+84 8 3821 9930
joel.weiden@vinacapital.com
David Benda / Hugh Jonathan
Numis Securities Limited, Broker
+44 (0)20 7260 1000
funds@numis.com
Franczeska Hanford / Martin
Bourgaize
Northern Trust International Fund Administration Services
(Guernsey) Limited, Company Secretary
+44 1481 745001
fk26@ntrs.com / meb16@ntrs.com
Daniel Jason
Peregrine Communications, Public Relations (London)
+44 (0) 20 3040 0872
daniel.jason@peregrinecommunications.com