Investment Strategy
In view of the Company’s recent performance and the current adverse conditions in the financial markets and uncertain outlook for smaller US-listed Chinese companies, and after consulting Shareholders representing the majority of the issued share capital, the Directors concluded that the Company’s investments should be realised in an orderly manner and surplus cash returned to Shareholders.
At the extraordinary general meeting of the Company held on at 12 August 2011, the resolution approving the proposed change to the Company’s investment policy was adopted. As such, the Board will work to implement the new investment policy in an effective and efficient manner with a view to achieving a balance between returning cash to Shareholders from time to time in such manner as the Board may (in its absolute discretion) determine and the realisation of optimum value for the Company’s remaining investments. Accordingly, the timing and quantum of future returns of cash to Shareholders are uncertain and will, in part, depend on the timing and quantum of the disposal of the assets and the ongoing liabilities incurred in the operation and management of the Group.
The Company’s current investment policy can be found at http://www.vocfund.com/main/investment-policy/.