India Capital Growth Fund Limited Notice of AGM (1939R)
19 September 2017 - 11:54PM
UK Regulatory
TIDMIGC
RNS Number : 1939R
India Capital Growth Fund Limited
19 September 2017
19 September 2017
INDIA CAPITAL GROWTH FUND LIMITED
(the "Company" or "ICGF")
(a closed-ended investment company incorporated with limited
liability under the Laws of Guernsey with registered number
43916)
Posting of Notice of Annual General Meeting and Circular
The Company announces that it has today convened its 2017 Annual
General Meeting for 10.00 am on 18 October 2017 at 1st Floor, Tudor
House, Le Bordage, St Peter Port Guernsey and is posting to
Shareholders a circular (the "Circular") together with the Notice
of Annual General Meeting (the "Notice"). As well as ordinary
business, a special resolution will be proposed at the Meeting to
adopt New Articles of Association. The Circular and Notice will be
available shortly on the Company's website and can be downloaded
from www.indiacapitalgrowth.com.
The Company also announces that it has today entered into an
amended and restated investment management agreement with the
Investment Manager (the "Amended IMA") to replace the investment
management agreement dated 16 December 2005. No change has been
made to the notice period (which remains 12 months) or the
management fee of 1.5 per cent. per annum of the Company's total
assets. The termination provisions are materially the same and do
not include provisions entitling the Company to terminate the
agreement on a change of control of the Investment Manager. The
Amended IMA takes account of the provisions of the Alternative
Investment Fund Managers Directive and the Market Abuse Regulation
and reflects current market standards.
As referred to in the Chairman's Statement in the Company's
interim results for the six months ended 30 June 2017, the Company
is seeking to move away from the AIM market and instead to have a
listing on the Main Market of the London Stock Exchange. Mr Fred
Carr has informed the Company that, having served for eight years
as Chairman, he has decided that he should hand over to a
successor, the responsibility of taking the Company through to the
Main Market and beyond. The Board has appointed executive search
consultants to assist in finding an appropriate addition to the
Board. When a successor is appointed, Mr Carr intends to resign as
a director, but has agreed to remain as a consultant to the Company
until 31 March 2018, drawing the same fee as he has been receiving
as Chairman.
Enquiries
Temple Bar Advisory (PR Advisers)
Tom Allison/ Ed Orlebar/ Alycia MacAskill
020 7002 1080
Ocean Dial Asset Management Limited (Investment Manager)
Robin Sellers / David Cornell
020 7068 9870
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Carolyn Sansom
020 7383 5100
Stockdale Securities Limited (Broker)
Robert Finlay
020 7601 6115
This information is provided by RNS
The company news service from the London Stock Exchange
END
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