CUSIP No. 92912J102 | 13G | Page 2 of 6 Pages |
1. | NAME OF REPORTING PERSONS | ||||
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS | |||||
City of London Investment Management Company Limited, a company incorporated under the laws of England and Wales | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | ||||
(a)☐ | |||||
(b)☐ | |||||
3. | SEC USE ONLY | ||||
4. | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||
England and Wales | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER | |||
2,284,487 | |||||
6. | SHARED VOTING POWER | ||||
0 | |||||
7. | SOLE DISPOSITIVE POWER | ||||
2,284,487 | |||||
8. | SHARED DISPOSITIVE POWER | ||||
0 | |||||
9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||
2,284,487 | |||||
10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ||||
☐ | |||||
11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | ||||
19.2% | |||||
12. | TYPE OF REPORTING PERSON | ||||
IA | |||||
CUSIP No. 92912J102 | 13G | Page 3 of 6 Pages |
Item 1(a). | Name of Issuer: |
Item 1(b). | Address of Issuer's Principal Executive Offices: |
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, AZ 85258
Item 2(a). | Name of Person Filing: |
This statement is being filed by City of London Investment Management Company Limited (“CLIM” or the “Reporting Person”). CLIM is a fund manager, which specializes in investing in closed-end investment companies and is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. CLIM is controlled by City of London Investment Group plc (“CLIG”), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between CLIM and CLIG such that voting and investment power over the subject securities is exercised by CLIM independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between CLIM and CLIG.
CLIM is principally engaged in the business of providing investment advisory services to various public and private investment funds, including Emerging (BMI) Markets Country Fund (“BMI”), a private investment fund organized as a Delaware business trust, Emerging Markets Free Fund (“CF”), a private investment fund organized as a Delaware business trust, Emerging Markets Global Fund (“CG”), a private investment fund organized as a Delaware business trust, Global Emerging Markets Fund (“EUREKA”), a private investment fund organized as a Delaware business trust, The Emerging World Fund (“EWF”), a Dublin, Ireland-listed open-ended investment company, Emerging Free Markets Country Fund (“FREE”), a private investment fund organized as a Delaware business trust, Emerging Markets Country Fund (“GBL”), a private investment fund organized as a Delaware business trust, and unaffiliated third-party segregated accounts over which CLIM exercises discretionary voting and investment authority (the “Segregated Accounts”).
BMI, CF, CG, EUREKA, EWF, FREE and GBL are collectively referred to herein as the “City of London Funds.”
The Shares to which this Schedule 13G relates are owned directly by the City of London Funds and the Segregated Accounts.
Item 2(b). | Address of Principal Business Office or, if None, Residence: |
77 Gracechurch Street
London EC3V 0AS
England
CUSIP No. 92912J102 | 13G | Page 4 of 6 Pages |
Item 2(c). | Citizenship: |
Item 2(d). | Title of Class of Securities: |
Item 2(e). | CUSIP Number: |
Item 3. | If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: |
(d) | ☐ | Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). |
(g) | ☐ | A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G) (for CLIG); |
(h) | ☐ | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
(i) | ☐ | A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); |
(j) | ☐ | Group, in accordance with Rule 13d-1(b)(1)(ii)(J). |
CUSIP No. 92912J102 | 13G | Page 5 of 6 Pages |
Item 4. | Ownership. |
Item 5. | Ownership of Five Percent or Less of a Class. |
Item 6. | Ownership of More than Five Percent on Behalf of Another Person. |
Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. |
Item 8. | Identification and Classification of Members of the Group. |
Item 9. | Notice of Dissolution of Group. |
Item 10. | Certification. |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
CUSIP No. 92912J102 | 13G | Page 6 of 6 Pages |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
CITY OF LONDON INVESTMENT MANAGEMENT COMPANY LIMITED | |||
By: | /s/ Jocelyn Inger | ||
Name: Jocelyn Inger | |||
Title: Chief Compliance Officer-US | |||