Notice on Share Repurchase by Vietnam Property Holding Press Release

SAM 10 tháng 09, 2009


(A Company incorporated with registration number HL-193035 under the laws of the Cayman Islands as an exempted company with limited liability)


As a result of a request from a substantial shareholder of the Company, the Directors considered the possibility of initiating a share buy-back program.

The Directors called an Extraordinary General Meeting, held on 22 June 2009 (the “EGM”), to table a proposal on a share buy-back program which would result in the repurchase of the Company’s own shares.

Pursuant to the share buy-back proposal, which was passed by the shareholders in the EGM, the Company may use up to Euro 3 million of its cash to repurchase its own shares at a substantial discount (50% or more) to the net asset value of the Company in the open market for cancellation (the “Share Buy-Back Program”).

Under the Share Buy-Back Program, the shareholders have authorized the Directors to direct the Company’s Investment Manager (Saigon Asset Management) to implement the Share Buy-Back Program within twelve (12) months.

The Share Buy-Back Program shall be made from 14 September 2009 through open market in accordance with applicable laws and regulations.