Result of Extraordinary General Meeting


 
TIDMICV 
 
For immediate release on 3 September 2009 
 
             INDOCHINA CAPITAL VIETNAM HOLDINGS LIMITED 
                      ("ICV" or the "Company") 
 
               Result of Extraordinary General Meeting 
 
As stated in the announcement released by the Company this morning in 
connection with the result of the elections for Realisation Shares, 
since valid Forms of Election were received in respect of Ordinary 
Shares representing 67.7 per cent. of the issued share capital, the 
Board will not be implementing the Portfolio Split and the Company is 
beginning an orderly realisation of all of its portfolio. The Board 
intends to send a circular to Shareholders with further details of 
the process for distribution of the net proceeds of the realisation 
to Shareholders and the Company's liquidation as soon as practicable. 
 
The Company announces that all Resolutions proposed at the EGM held 
earlier today were duly passed. The results of the voting on each of 
the Resolutions were as follows: 
 
 
+------------------------------------------------------------------+ 
|   Resolution |    Votes in     |   %    |    Votes     |    %    | 
|              |     favour*     |        |   against    |         | 
|--------------+-----------------+--------+--------------+---------| 
|            1 |    28,036,471   |  98.5  |    427,600   |   1.5   | 
|--------------+-----------------+--------+--------------+---------| 
|            2 |   28,036,471    |  98.5  |   427,600    |   1.5   | 
|--------------+-----------------+--------+--------------+---------| 
|            3 |   28,034,721    |  98.49 |   429,350    |  1.51   | 
+------------------------------------------------------------------+ 
 
 
* The "in favour" votes include those votes giving the Chairman 
discretion 
 
Investment management arrangements 
 
Since the Company is now beginning an orderly realisation of all of 
its portfolio, the proposed Joint Venture between the Company's 
existing Investment Manager and Dragon Capital, will not take effect. 
Instead, the Investment Manager will manage the realisation process 
on the terms of its existing investment management agreement except 
that the management fees will be reduced, with effect from today, to 
a management fee of 0.75 per cent. of Net Asset Value for the first 
year reducing to 0.50 per cent. for the second year and 0.25 per 
cent. thereafter, plus a fee of 1 per cent. of each distribution to 
Shareholders (both before and after any liquidation commences) in the 
first year, 0.75 per cent. in the second year and 0.5 per cent. 
thereafter, together with an incentive fee equal to 10 per cent. of 
any sum that a Shareholder receives by way of distribution in excess 
of the Net Asset Value per Share on 1 September 2009, being the last 
business day before the change in investment policy became effective. 
 
Capitalised terms  used  in  this announcement  will  have  the  same 
meaning as in  the Circular  dated 31  July 2009  unless the  context 
requires otherwise. 
 
For further information please contact: 
 
 
Indochina Capital Advisors Limited    +84 8 3910 1525 
Beat Schuerch 
 
Arbuthnot Securities Limited          020 7012 2000 
Alastair Moreton 
Hannah Pearce 
 
=--END OF MESSAGE--- 
 
 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.

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