Vietnam : Entry Standard Delisting

VietNam Holding Limited ("VNH" or the "Company")

Delisting of the Company's ordinary shares from the Frankfurt Stock Exchange's Entry Standard

The Company's ordinary shares (the "Shares") have been admitted to trading on the AIM Market of the London Stock Exchange ("AIM") since 15 June 2006. In addition, since 20 October 2008, the Company has maintained a secondary quotation of the Shares on the Entry Standard segment ("Entry Standard") of the Frankfurt Stock Exchange (the "FSE"). However, VNH's Board of Directors (the "Board") has applied to delist the Shares [WKN: A0J2ZW / ISIN: KYG9361X1043] from the Entry Standard.

For the avoidance of doubt the admission to trading of the Shares on AIM remains active.

Recent regulatory changes, in particular the implementation of the Alternative Investment Fund Managers Directive ("AIFMD") in the member states of the European Economic Area ("EEA"), have caused the Board to reconsider the Company's Entry Standard listing. The marketing restrictions imposed by the German regulatory bodies in response to the AIFMD have directly affected the Company's abilities to promote itself in Germany. These constraints became apparent earlier this year when German shareholders in the Company (as well as shareholders in some other EEA countries) had to be excluded from the Company's bonus warrants issue.

Since most investors trading the Shares on the FSE are based in Germany, the Board has concluded that maintaining the Entry Standard listing over the longer term makes little regulatory and commercial sense. In addition, the Board believes that concentrating the trading activities of the Shares on one stock exchange (London) may benefit the overall trading liquidity in the Shares. Consequently the Board has decided to terminate the inclusion of the Shares in the Entry Standard and a formal delisting application was submitted to the FSE.

Trading in the Shares will continue on the Entry Standard for another six weeks. The last trading day for the Shares on the Entry Standard is therefore expected to be 30 September 2015.

A list of frequently asked questions (FAQ) concerning this delisting can be found on the Company's website:

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For further information please contact:

About VNH

VNH is a closed end fund listed on the AIM Market of the London Stock Exchange and the Entry Standard Market of the Frankfurt Stock Exchange. VNH's portfolio is actively managed by VietNam Holding Asset Management Limited, an investment management company with offices in Ho Chi Minh City and Zurich, which specializes in the development and management of Vietnamese equity funds.