IES Holdings Ltd.

Pre-Annual General Meeting Information • Jun 18, 2018

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RNS Number : 6687R

VietNam Holding Limited

18 June 2018

VietNam Holding Limited

("VNH" or the "Company")

Corporate Update

Notice of General Meeting

VietNam Holding Limited ("VNH" or the "Fund") (AIM: VNH), provides an update on the ongoing corporate review below.

Share Buy Back

The Company established a share buy-back programme in 2010. Following the Company's 2017 annual general meeting and the appointment of new directors, the Board undertook a review of the Company's share buy-back powers and their use. In particular, the Board concluded that while the Company's Shares trade at a discount to NAV per Share, it is a beneficial use of the Company's funds to repurchase Shares for immediate cancellation. Such repurchases should provide certain, near-immediate and potentially substantial returns on the funds used, thereby accreting value to NAV per Share.

Consequently, today a circular will be sent to shareholders convening a general meeting to pass a resolution increasing the Board's share buy-back authority to 14.99 per cent of the current issued share capital of the Company.  The General Meeting will be held at the offices of finnCap Ltd, 60 New Broad Street, London EC2M 1JJ, United Kingdom at 10.30 a.m. (UK time) on 9 July 2018.

The circular will be available on the Company's website www.vietnamholding.com shortly.

Acquisition of Vietnam Equity Holdings ("VEH")

VNH announced on 16 May 2018 that it had entered into an asset purchase agreement with VEH, conditional on, inter alia, the passing of a special resolution by VEH shareholders, requiring a majority of 75% of those present and voting to vote in favour. The Board has been advised that at the VEH general meeting, held on 8 June 2018 and adjourned until 15 June 2018, 63% of shareholders voted to approve the asset purchase resolution, and hence the threshold required to pass the special resolution to implement the scheme was not reached. The planned acquisition will therefore not take place.

Management arrangements

The Board expects to make a further announcement on the fund's management arrangements in the near future.

finnCap Ltd Nominated Adviser and Broker	Tel: +44 20 7220 0500
Stuart Andrews/William Marle/Giles Rolls

The information contained within the announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain

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