Notice of Termination of IAA

RNS Number : 2833K

Infrastructure India plc

15 April 2010

 



Date:	15 April 2010
On behalf of:	Infrastructure India plc
	For immediate release

Infrastructure India plc

Notice of Termination of Investment Adviser Agreement

Infrastructure India plc ("Infrastructure India" or "the Company"), the investment company focusing on Indian infrastructure assets, announces that Infrastructure India HoldCo, a subsidiary of the Company, has today served notice on Bloomsbury Asset Management Advisors ("BAMA") to terminate the Investment Adviser Agreement dated 23 June 2008 (the "IAA").  The IAA remains in place until the expiration of the notice period.

As noted in previous announcements, following the resignation of certain key employees of BAMA in October 2009, and the Company being informed by BAMA in March 2010 that the notice periods in respect of such key employees had expired, BAMA had a period of time in which to nominate appropriately skilled replacements for such employees.  As at 15 April 2010, neither the Company nor Infrastructure India HoldCo had been provided with any nominations by BAMA, and as the time period to make such nominations has now expired, notice of termination has been served on BAMA.  The Company does not intend to replace BAMA as Investment Adviser but instead will rely on Akur Partners LLP, its Asset Advisor, and its own internal resources.

-Ends-

Enquiries:

Infrastructure India plc	www.iiplc.com
Rupert Cottrell	Via Redleaf Communications
Akur Partners LLP	020 7955 1513
Andrew Dawber / Anthony Richardson / Thomas Frost
Smith & Williamson	020 7131 4000
Azhic Basirov / Siobhan Sergeant
Redleaf Communications	020 7566 6700
Emma Kane / Adam Leviton / Henry Columbine	[e-mail]

 

END

 

 

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