Vietnam Enterprise Investments Ltd Directorate Change (8096T)
March 25 2019 - 3:00AM
UK Regulatory
TIDMVEIL
RNS Number : 8096T
Vietnam Enterprise Investments Ltd
25 March 2019
COMPANY ANNOUNCEMENT
For Immediate Release
25 March 2019
Vietnam Enterprise Investments Limited
("VEIL" or the "Company")
Re: Directorate Change
Wolfgang Bertelsmeier has informed the Board that, in line with
best practice in corporate governance with regard to tenure, he
will step down as Chair of the Company and resign from the Board,
both effective 30 June 2019. He has served on the Board with
distinction for over nine years, having been appointed in July
2009. The Board would like to thank Mr Bertelsmeier for his
valuable contribution during his time on the Board and his guidance
as Chair, during which time the Company has significantly grown its
assets under management, including via merger with Vietnam Growth
Fund Limited, and listed on the Main Market of the London Stock
Exchange.
The Board has elected Stanley Chou, currently senior independent
non-executive director, to replace Mr Bertelsmeier as Chair of the
Company after Mr Bertelsmeier steps down on 30 June 2019. The Board
Committees will be reviewed and their composition will be
re-constituted effective 1 July 2019. Mr Chou will offer himself
for re-election to the Board in the usual way at the next Annual
General Meeting ("AGM") of the Company.
Meanwhile, the Nomination & Remuneration Committee has
appointed an international search consultancy to identify
candidates who may replace Mr Bertelsmeier as director. The
Nomination & Remuneration Committee shall assess potential
candidates based on merit and objective criteria and will consider
the Board's diversity, in order to achieve a combination of skills,
experience and knowledge. Any new director appointed to the Board
will be expected to stand for election at the AGM.
Enquiries:
Dragon Capital
Rachel Hill
RachelHill@dragoncapital.com
+44 7971214852
Jefferies International Limited
Stuart Klein
stuart.klein@jefferies.com
+44 (0) 20 7029 8703
Smithfield
Edward Brown
edward.brown@smithfieldgroup.com
+44 (0) 20 3047 2268
VEIL's LEI code is 213800SYT3T4AGEVW864
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END
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