VNL strategic update - distribution policy

RNS, 28 October 2010

VinaLand Limited

Strategic Update

The Board of Directors ("the Board") of VinaLand Limited ("VNL" or "the Company"), an investment company focused on Vietnam's dynamic real estate sector, announces several important strategic decisions designed to enhance returns to shareholders.

After consultation with and consideration of the views of shareholders of the Company, in accordance with the distribution policy contained in the Company's AIM admission document, the Board have resolved to distribute approximately 50 percent of cash generated from divestments, after providing for tax and investment commitments. The Board aims to make the first distribution in the second quarter of 2011 after the finalization of the interim financial statements for the six months ended 31 December 2010.  Distributions will be made in the form of a tender for the repurchase of shares at Net Asset Value (NAV).

In addition to the announcement of the distribution policy the Board and the manager, VinaCapital Investment Management Ltd, will undertake the following initiatives: 

The Board believes strongly that the above decisions will have a positive impact on the Company's operations and on the value delivered to shareholders.

Chairman of the Company, Mr. Nicholas Brooke said: "VNL has made considerable progress in respect to it's strategy of investing and developing in quality real estate projects in Vietnam. Now that the Company is fully invested and is beginning to realise the gains from those investments we are very pleased to be able to begin distributing proceeds to our investors. The Board continues to believe there are considerable opportunities in the Vietnam market, particularly in residential sector, and will use retained funds to expand the portfolio."

Notes to Editors
VinaCapital Group is a leading asset management, investment banking and real estate consulting firm with unrivalled experience in the Vietnamese market. VinaCapital Group was founded in 2003 and has grown from a single USD10 million fund to a diversified investment firm with USD1.8 billion in assets under management as of September 2010.
VinaCapital manages three closed-end funds trading on the London Stock Exchange's Alternative Investment Market (AIM). These are: VinaCapital Vietnam Opportunity Fund (VOF); VinaLand Limited (VNL); and Vietnam Infrastructure Limited (VNI). VinaCapital also co-manages the DFJ VinaCapital technology venture capital fund with Draper Fisher Jurvetson. More information is available at www.vinacapital.com.
 
More information on VinaLand Limited is available at www.VinaCapital.com/vnl.        
 
Enquiries:
Michael L. Gray
VinaCapital Investment Management Limited
Investor Relations/Communications
+84 8 821 9930
michael.gray@vinacapital.com
 
Philip Secrett
Grant Thornton Corporate Finance, Nominated Adviser
+44 20 7383 5100
philip.j.secrett@gtuk.com
 
Hiroshi Funaki
LCF Edmond de Rothschild Securities, Broker
+44 20 7845 5960
funds@lcfr.co.uk
 
Alastair Hetherington
Financial Dynamics, Public Relations (Hong Kong)
+852 3716 9802
alastair.hetherington@fd.com
 
Andrew Walton
Financial Dynamics, Public Relations (London)
+44 2072697204
andrew.walton@fd.com