VNL appoints new director

RNS
29 June 2010

VinaLand Limited

Appointment of Director

The Board of Directors (“the Board”) of  VinaLand Limited (“the Company”), an investment company established to target key growth segments within Vietnam's emerging real estate market, is pleased to announce the appointment of Mr. Nicholas Charles Allen as non-executive independent member of the Board effective today.

Mr. Allen worked for 24 years in Hong Kong with Coopers & Lybrand (later PricewaterhouseCoopers) where he was partner-in-charge of several portfolios including the Hong Kong and China Assurance Practice (Audit) comprising 3,000 staff and partners in 10 offices. Nicholas is currently a non-executive independent director of several listed companies in Hong Kong, including Lenovo Group.

Commenting, Nicholas Brooke, Chairman of the Company’s Board, said: "Nick has extensive experience serving on the board audit committees of listed companies, which will assist us immensely as we continue to focus on implementing international best practice in our financial accounting policies and practices. On behalf of the Board I welcome him to the team, and look forward to his contributions to the Company.”

About Mr. Nicholas Allen
Nicholas Charles Allen, aged 55, is an independent non-executive director of CLP Holdings Ltd, Lenovo Group Ltd, and Hysan Development Company Ltd. He is chairman or member of the audit committee for all three companies. Mr. Allen joined Coopers & Lybrand in 1977, coming to Hong Kong with that firm in 1983. In 1998 Coopers & Lybrand merged to form PricewaterhouseCoopers, and Mr. Allen worked at PwC until his retirement in 2007. During his 24 years with PwC in Hong Kong, Mr. Allen was the partner-in-charge of the Consumer and Industrial Products Group, the Corporate Finance and Recovery Practice division, and the Hong Kong and China Assurance Practice. He is a fellow of the Chartered Accountants in England and Wales and a member of the Hong Kong Institute of Certified Public Accountants. Mr. Allen has a B.A. from Manchester University in the United Kingdom.

Mr. Allen’s current and past directorships:

Current directorships   

Former directorships

CLP Holdings Ltd

PricewaterhouseCoopers Limited (HK)

Lenovo Group Ltd

Abacus Fiduciaries Limited (BVI)

Hysan Development Company Ltd

Colybrand Fiduciaries Limited (BVI)

Felica Investment Limited

PricewaterhouseCoopers Corporate Finance Ltd (HK)

Vision 2047 Foundation

PricewaterhouseCoopers Hong Kong Ltd (BVI)

 

FY05 Limited (BVI)

The Company confirms there is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules.

Enquiries:
Michael L. Gray
VinaCapital Investment Management Limited
Investor Relations/Communications
+84 8 821 9930
michael.gray@vinacapital.com

Hiroshi Funaki +44 20 7845 5960
LCF Edmond de Rothschild Securities, Broker
funds@lcfr.co.uk

Philip Secrett
Grant Thornton, Nominated Adviser
+44 20 7383 5100
philip.j.secrett@gtuk.com

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

Notes for editors:

About VinaLand Limited
VinaLand Limited (VNL.L) is a closed end fund trading on the London Stock Exchange (AIM). Launched in 2006, VNL is the largest listed fund for investment in Vietnam’s emerging real estate sector. The fund focuses on the key growth sectors including residential, office, retail, hospitality and leisure, and high tech/industrial properties. The manager’s objective is to provide shareholders with an attractive level of income as well as creating a potential for capital growth. More information can be found at www.vinacapital.com/vnl.

About VinaCapital Group
VinaCapital Group is the leading asset management and financial services group in Vietnam. The Group combines its deep market experience and networks to generate strategic investment and financing products, alongside merger and acquisition activities. VinaCapital manages total assets valued at USD1.8 billion at May 2010. VinaCapital also has a dominant stake in VinaSecurities JSC, a brokerage firm. VinaCapital currently employs over 200 investment personnel in its offices in Ho Chi Minh City, Hanoi, Danang, Nha Trang and Hong Kong. More information on the Group can be found at www.vinacapital.com.