VinaLand has announced results for the year ended 30 June 2016. The NAV fell to 86 cents from 91 cents. However after adjusting for the USD0.0876 distribution of capital from the share premium account, the NAV per share increased by 4.1% year-on-year. The Company’s share price closed on 30 June 2016 at USD0.58 per share, an increase of 12.4% and, again after adjusting for the distribution of capital, increased by 29% from USD0.52 per share as at 30 June 2015. As a result, VNL’s share price to NAV discount narrowed to 32.2% from 43.2% between 30 June 2015 and 2016.
Over this period the Company also reduced its own debt from USD88 million (as at 31 December 2012) to USD73 million (as at 30 June 2016) and returned USD86 million to shareholders. 36.3m shares were bought back and cancelled and an 8.76 cent per share distribution was made to investors in June.
VNL : VinaLand investors see 29% return