Result of Extraordinary General Meeting
(Thomson Reuters ONE) - For immediate release on 3 September 2009 INDOCHINA CAPITAL VIETNAM HOLDINGS LIMITED ("ICV" or the "Company") Result of Extraordinary General MeetingAs stated in the announcement released by the Company this morning inconnection with the result of the elections for Realisation Shares,since valid Forms of Election were received in respect of OrdinaryShares representing 67.7 per cent. of the issued share capital, theBoard will not be implementing the Portfolio Split and the Company isbeginning an orderly realisation of all of its portfolio. The Boardintends to send a circular to Shareholders with further details ofthe process for distribution of the net proceeds of the realisationto Shareholders and the Company's liquidation as soon as practicable.The Company announces that all Resolutions proposed at the EGM heldearlier today were duly passed. The results of the voting on each ofthe Resolutions were as follows:+------------------------------------------------------------------+| Resolution | Votes in | % | Votes | % || | favour* | | against | ||--------------+-----------------+--------+--------------+---------|| 1 | 28,036,471 | 98.5 | 427,600 | 1.5 ||--------------+-----------------+--------+--------------+---------|| 2 | 28,036,471 | 98.5 | 427,600 | 1.5 ||--------------+-----------------+--------+--------------+---------|| 3 | 28,034,721 | 98.49 | 429,350 | 1.51 |+------------------------------------------------------------------+* The "in favour" votes include those votes giving the ChairmandiscretionInvestment management arrangementsSince the Company is now beginning an orderly realisation of all ofits portfolio, the proposed Joint Venture between the Company'sexisting Investment Manager and Dragon Capital, will not take effect.Instead, the Investment Manager will manage the realisation processon the terms of its existing investment management agreement exceptthat the management fees will be reduced, with effect from today, toa management fee of 0.75 per cent. of Net Asset Value for the firstyear reducing to 0.50 per cent. for the second year and 0.25 percent. thereafter, plus a fee of 1 per cent. of each distribution toShareholders (both before and after any liquidation commences) in thefirst year, 0.75 per cent. in the second year and 0.5 per cent.thereafter, together with an incentive fee equal to 10 per cent. ofany sum that a Shareholder receives by way of distribution in excessof the Net Asset Value per Share on 1 September 2009, being the lastbusiness day before the change in investment policy became effective.Capitalised terms used in this announcement will have the samemeaning as in the Circular dated 31 July 2009 unless the contextrequires otherwise.For further information please contact:Indochina Capital Advisors Limited +84 8 3910 1525Beat SchuerchArbuthnot Securities Limited 020 7012 2000Alastair MoretonHannah Pearce---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.09.2009 - 14:45 Uhr
Sprache: Deutsch
News-ID 5475
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