Strategic review update

    RNS Number : 4200B
  SGL Vietnam Development Limited
  15 August 2008
   

    SGL Vietnam Development Limited (the 'Company')

    Strategic Review Update


    Following the Board's strategic review update announced on 6 August 2008, the Board wishes to inform shareholders that, following a
review of the potential options available to the Company, it is currently considering whether the interests of shareholders might be best
served by a cancellation of the Company's admission to trading on AIM and voluntary liquidation of the Company, which would result in a
realisation of the Company's assets and a return of these funds to shareholders. This process would be subject to shareholder approval at an
Extraordinary General Meeting. Should the Board confirm through its deliberations that this route is the most appropriate for shareholders,
it would seek to arrange for a return of funds to shareholders as soon as possible.  

    To date the Board has considered several options, including whether sufficient and suitable investment opportunities exist for it to
continue to follow its current investment strategy in Vietnam, or whether a form of business combination under a potentially broader
investment strategy was appropriate. 

    The Board has considered, having discussed with certain major shareholders, whether there is a reasonable prospect to satisfy the
Company's investment objective in the short term, given the current economic outlook in Vietnam, the size of the Company, the difficulty in
the foreseeable future for the Company to raise additional funds and its resultant expense ratio, the costs necessarily required to maintain
a public quote and the likely concentration risk of any investment.

    The Board will explore its options in relation to a possible expedient return of funds to shareholders. In the current circumstances,
the Board has decided that no new investments will be contemplated until a final decision on this process is made.

    The Board will provide an update to shareholders as soon as possible. 

    The Company's unaudited net asset value per share as at 31 July 2008 was $2.60 per share (30 June: $2.61 per share) and currently has
cash balances of approximately $28 million.


    For further information, please contact:



    Collins Stewart
    Adrian Hadden, Stewart Wallace: +44 (0)20 7523 8350


This information is provided by RNS
The company news service from the London Stock Exchange
 
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