Notice of AGM

RNS Number : 1939R

India Capital Growth Fund Limited

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