Removal of Performance Fee from IMA

RNS Number : 6315K

India Capital Growth Fund Limited

26 June 2014

 



26 June 2014

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)

Removal of Performance Fee from Investment Management Agreement

The directors of the Company wish to announce the removal of the performance fee of the investment manager, Ocean Dial Asset Management Limited, (the "Performance Fee") from the Investment Management Agreement (the "IMA")with effect from 1 January 2014. 

The IMA of the Company will be updated to reflect the removal of the Performance Fee; all other terms of the IMA will remain unchanged.

The amendment to the terms of the IMA constitutes a related party transaction under AIM Rule 13. The directors, having consulted with Grant Thornton UK LLP (the Company's nominated adviser), confirm that they are satisfied that the proposed amendment to the IMA described above is fair and reasonable insofar as the shareholders of the Company are concerned.

All Enquiries:

Stephen Cuddihee

Apex Fund Services (Guernsey) Limited

Tel:       [phone]

Philip Secrett/Jen Clarke/Jamie Barklem

Grant Thornton UK LLP, NOMAD

Tel:       [phone]

Company website: www.indiacapitalgrowth.com 

 

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