Vinaland ZDP Ltd VinaLand Limited update (3438M)
October 12 2016 - 4:46AM
UK Regulatory
TIDMVNLZ
RNS Number : 3438M
Vinaland ZDP Ltd
12 October 2016
12 October 2016
VinaLand ZDP Ltd
VinaLand Limited update
VinaLand ZDP Ltd, admitted to the main market of the London
Stock Exchange, announces that today its parent company VinaLand
Limited ("VNL") made the following announcement:
VinaLand Limited (VNL) has published a copy of a VNL update
dated 12 October 2016. Electronic copies of the presentation can be
downloaded from the Company's website at
http://vnl-fund.com/information-briefs/.The purpose of the update
is two-fold in that it provides shareholders with up to date
information on progress of the Company, and also sets out the
proposed new strategy for VNL that will be recommended by the Board
at the EGM in November 2016. The formulation of the proposed
strategy follows consultation with shareholders since June
2016.
In summary, the proposed new strategy involves the orderly sell
down of projects in conjunction with ongoing development of
selected projects currently under development to maximise the
return of value to shareholders. All projects will be realised over
a period of approximately three years and the proceeds collected
will be returned to shareholders. As proceeds become available for
distribution they will be returned to shareholders via a range of
methods predominantly including share buybacks, tenders and
mandatory redemptions of shares. No new investments will be made
during the period and the development of projects will be limited
to those currently being developed; where the continued development
is expected to enhance returns to shareholders when the investments
are eventually sold. These projects include: Dai Phuoc Lotus, My
Gia and Trinity Park. A new aligned Investment Manager fee
structure has also been proposed.
Further details on the new strategy are available in the VNL
Update dated 12 October 2016, and then further additional
information relating to the EGM and AGM will be circulated in
advance of the meetings set down to take place in Zurich,
Switzerland in November 2016.
Additionally, the Investment Manager, VinaCapital will hold its
annual investor conference in Ho Chi Minh City on 12 - 14 October
2016 where the VNL Update will be presented.
More information on the Company is available at
www.vnl-fund.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAPEAFDFKFEF
(END) Dow Jones Newswires
October 12, 2016 04:46 ET (08:46 GMT)
Vinaland (LSE:VNLZ)
Historical Stock Chart
From Apr 2024 to May 2024
Vinaland (LSE:VNLZ)
Historical Stock Chart
From May 2023 to May 2024