IN BRIEF: VietNam Holding plans redemption facility to close discount

VietNam Holding Ltd - investment trust backing high-growth companies in Vietnam - Calls annual ...

Alliance News 27 November, 2023 | 1:40PM
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VietNam Holding Ltd - investment trust backing high-growth companies in Vietnam - Calls annual and extraordinary general meetings for December 21 in Paris. The AGM will include the trust's five-yearly continuation vote, which the board asks shareholders to approve. The trust also wants to introduce an annual redemption facility, which will be voted upon at the EGM. The redemption facility is aimed at reducing the discount of the company's share price to net asset value. It would allow shareholders to realise some or all of their holding for cash on an annual basis. The change would result in the company being treated as an 'offshore fund' for UK tax purposes, but the board does not expect to change its dividend policy. It notes that VietNam Holding has returned USD150 million to shareholders in tender offers and share buybacks over the past five years.

Current stock price: 306.82 pence

12-month change: up 28%

By Tom Waite, Alliance News editor

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
VietNam Holding Ord 367.00 GBX -1.08

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