Company name Vietnam Phoenix Fd L
Headline Result of EGM

RNS Number : 6655S
Vietnam Phoenix Fund Limited
22 December 2016


For Immediate Release

22 December 2016


Re: Result of EGM

The Directors of Vietnam Phoenix Fund Limited (the "Company") announce the result of the Extraordinary General Meeting, which was held earlier today.  Words and expressions defined in the circular to shareholders of the Company dated 8 December 2016 (the "Circular") have the same meanings when used in this announcement unless the context requires otherwise.

The resolution to:

·           to approve the Restructuring Proposal and authorise and direct the Directors to take such action as may be reasonably necessary to implement the Restructuring Proposal;

·           to redesignate each issued Ordinary Share as a Private Equity Share and sub-divide that share into two shares, with one issued sub-divided share being a Private Equity Share and the other issued sub-divided share being redesignated as either a Continuation Share or a Realisation as may be required to give effect to the Election made in respect of such Ordinary Share;

·           to sub-divide each unissued Ordinary Share into two unissued shares of US$0.005 par value per share in the capital of the Company; and

·           to adopt the New Articles;

was duly passed.  The total number of proxy votes lodged in relation to the resolution was as follows:



Percentage of the issued share capital voted
















1Note: % is % of proxy votes cast.

Accordingly, the Restructuring Proposal will become effective on 1 January 2017. Full details of the Restructuring Proposal, including details of the action to be taken by investors to make Elections pursuant to the Restructuring Proposal, are set out in the Circular, which can be accessed via the headline announcement ( released on 8 December 2016. 

The expected timetable for implementation of the Restructuring Proposal is as follows:

Latest time and date for receipt of completed
Forms of Election from Registered Shareholders                   9.00 a.m. on Thursday, 29 December 2016

Announcement of result of Elections pursuant to
Restructuring Proposal     Friday, 30 December 2016

Restructuring Proposal effective                                                                       Sunday, 1 January 2017

Each issued Ordinary Share re-designated as a Private
Equity Share and sub-divided into two shares, with
one such sub-divided share being a Private Equity
Share and the other issued sub-divided share being
re-designated as a Continuation Share or a Realisation
Share in accordance with Elections received                                                     Sunday, 1 January 2017

Note: All references in this document to times are to the time in the Cayman Islands unless otherwise statedEach of the dates in the above timetable is subject to change.

The default option (i.e. where no valid Form of Election is received by the Company in respect of an Ordinary Share) will be deemed to be an Election for the Continuation Option.  Accordingly, Shareholders who wish to elect solely for the Continuation Option do not need to arrange for a Form of Election in respect of their holding of Ordinary Shares to be completed and returned to the Company as they will be deemed to have elected for the Continuation Option. 


Vietnam Phoenix Fund Limited

Scott Weldon
Duxton Asset Management Ltd

T: +65 6511 0362

Sue Inglis
Cantor Fitzgerald Europe

T: +44 20 7894 8016

Margot Carty

T: +353 1 232 2000





This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange




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