Company name DWS Vietnam Fund
Headline AGM Meeting & Resignation of Investment Manager


RNS Number : 6470Y
DWS Vietnam Fund Limited
18 May 2016
 

 

COMPANY ANNOUNCEMENT

 

For Immediate Release                                                        18 May 2016

 

DWS VIETNAM FUND LIMITED

 

RE: ANNUAL GENERAL MEETING AND RESIGNATION OF INVESTMENT MANAGER

 

The Directors of DWS Vietnam Fund Limited (the "Company") wish to make the following announcements in respect of the Company:

 

Annual General Meeting

 

The Board intends to convene an annual general meeting of the Company ("AGM") to take place no later than 30 September 2016. The Board will issue a circular to shareholders including formal notice of the AGM in advance of the meeting, which will contain further detailed information for shareholders. This will include instructions to investors as to how they may vote at the AGM in respect of shares held through Euroclear and Clearstream.

 

In accordance with the Company's articles of association, at the AGM shareholders will be requested to vote on, amongst other things, a resolution to wind up the Company effective 31 December 2016. The Board intends to put before shareholders alternative arrangements in the event that shareholders decide to continue the Company. A resolution to change the name of the Company will also be proposed as required by the investment management agreement ("IMA") between the Company and Deutsche Asset Management (Asia) Limited ("DeAM Asia"), due to the resignation of DeAM Asia as described below.

 

Resignation of Investment Manager

 

The Company has received from DeAM Asia notice of its resignation as investment manager of the Company. The termination of the IMA will be effective on 30 September 2016.

 

The Board has entered into discussions with Duxton Asset Management Pte. Ltd. ("Duxton") with regard to investment management of the Company following the resignation of DeAM Asia and termination of the IMA. Duxton currently provides investment management and advisory services in relation to the Company's investments on the terms of a sub-delegation agreement between DeAM Asia and Duxton which has been in effect since 30 April 2009. That sub-delegation agreement will automatically terminate on 30 September 2016.

 

The appointment of Duxton as the new investment manager will be subject to the prior approval of the Irish Stock Exchange.

 

 

Investor Communication

 

During the period before the AGM, the Board wishes to communicate with investors regarding the future of the Company. In order to facilitate these communications, the Board invites investors to establish contact with the Company by email on dwsvietnamfund@dmsoffshore.com and with your usual Duxton contact.

 

 

Enquiries:

 

Matheson                     Margôt McDonagh

                                    Phone: +353 1 232 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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