Company name DWS Vietnam Fund
Headline Letter to Shareholders


RNS Number : 5123E
DWS Vietnam Fund Limited
04 November 2015
 

COMPANY ANNOUNCEMENT

 

For Immediate Release                                                                               4 November 2015

DWS Vietnam Fund Limited (the "Company")

The Directors of the Company would like to announce that the letter below has been distributed to shareholders:




October 26th, 2015

Dear Shareholder

Reconstitution of the Board of Directors of DWS Vietnam Fund Limited (the "Company")

As indicated in our most recent quarterly conference call with shareholders held on September 28, 2015 the current board of directors of the Company is considering the appointment of additional directors.  The board has received nominations from a shareholder in the Company for two additional directors as independent, non-executive directors of the Company.  Details of these nominees, and the shareholder who nominated them, will be provided separately via circular for your consideration at an upcoming Extraordinary General Meeting ("EGM") of the Company.

The purpose of this communication is to give you the opportunity to make one or more nominations to the board of directors of the Company. 

Under the Company's Articles of Association, the maximum number of board members is seven.  As the Company's board currently consists of two directors, up to five additional directors may be appointed. 

Voting on all additional board nominees will be by the shareholders at the EGM which is intended to be held in November 2015.  Voting at the EGM will be conducted in accordance with the Company's Articles of Association, and specifically Articles 45 - 71.

Under Article 94 of the Company's Article of Association, the maximum aggregate amount of remuneration for the entire Board is US$75,000, and the Board determines the remuneration of each Director subject to that aggregate maximum.   The shareholder that has nominated the two additional independent directors has proposed an increase in the Directors' remuneration that would require an amendment to the Company's Articles of Association by way of a special resolution.  Details about the proposed increase in Board remuneration, how it compares with remuneration of similar directorships, and the Board's recommendations on Directors' remuneration will be included in the EGM circular. Nominations (with reasons for the nomination, and accompanied by the CV of each nominee) must be made via email to Wade Kenny or Ronan Guilfoyle at wkenny@dmsoffshore.com or rguilfoyle@dmsoffshore.com to be received by them on or before the close of business on the 9th of November Cayman time.  Details of all nominees will be included in the EGM circular.

Each of the nominees must be available at the EGM, either in person or via telephone, to answer any questions any members attending the EGM may have in connection with their proposed appointment.

Should you have any questions please do not hesitate to contact either of the directors via telephone at +1 (345) 949 2777. 

Yours faithfully

 

DWS Vietnam Fund Limited

 

Enquiries

Matheson                                                                                                    Yvonne Lappin

                                                                                                                    Tel: (01) 232 2000

 

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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