Directorate Change

RNS Number : 4004F

India Capital Growth Fund Limited

14 June 2012

 



India Capital Growth Fund Limited (the "Company")

(a closed-ended investment company incorporated with limited liability under the Laws of Guernsey with registered number 43916)

Board Changes

14 June 2012

The Company is pleased to announce the appointment of Mr Vikram Kaushik to the Board as an independent non-executive director with effect from 14 June 2012.

Vikram Kaushik (aged 61) is a resident of India where he has worked throughout his career. He initially spent more than 16 years working for Unilever before being appointed Managing Director of Enterprise Advertising Agency and then Vice President of Britannia Industries, a manufacturer and marketer of food products. In 1999 he was appointed a Director of Colgate Palmolive and then in 2004 he was appointed Managing Director & CEO of Tata Sky, the satellite television provider.  

Mr. Kaushik retired from Tata Sky recently and now consults with PricewaterhouseCoopers and is Advisor to the Tata Strategic Management Groups. He is also a director of Prasar Bharati, the body that oversees public service broadcasting services in India and MTS, a subsidiary of Sistema, a telecoms major in India. He also serves on the Sectoral Committee for Innovation set up by the Prime Minister's Office in India.

The Company also announces the retirement of Mr Ashok Dayal (aged 75) from the Board of the Company, also with effect from 14 June 2012. Commenting on this announcement, Fred Carr, the Chairman said:

"Ashok Dayal has served as a Director of the Company since its inception in 2005 during which time he has brought us a breadth of experience and vision. We shall greatly miss the courtesy, charm and good humour that he has displayed in this role. He departs from our board safe in the knowledge that the Company has established solid foundations. We thank him for his consistently sound judgement and wise counsel."

Enquiries:

Fred Carr, Chairman

[phone]

Andrew Maiden

Northern Trust International Fund Administration Services (Guernsey) Limited, Company Secretary

[phone]

Philip Secrett/Jen Hatter

Grant Thornton UK LLP, NOMAD

[phone]

APPENDIX

The following information is disclosed in accordance with Rule 17 and Schedule Two, paragraph (g) of the AIM Rules:

Vikram Kaushik

Directorships (other than the Company) - companies are incorporated in India unless otherwise stated:

Current:

Sistema Shyam TeleServices LimitedPrasar Bharati Limited

Held within the past 5 years:

Tata Sky Limited

Advertising Standards Council of India

There is no further information to be disclosed under Schedule Two, paragraph (g) of the AIM Rules.

 

END

 

 

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