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Dhir India Inv. plc (DHIR)

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Monday 23 May, 2011

Dhir India Inv. plc

Update re. Investment Manager

RNS Number : 0337H
Dhir India Investments plc
23 May 2011
 



Dhir India Investments plc (the "Company")

 

Update re Investment Manager

 

 

Dhir India Investments plc announces that its Board is reviewing the form and terms of the provision of investment management services to the Company as part of the Board's strategy to seek to accelerate the process of realising the Company's investments with a view to maximising returns to shareholders.

 

Under the terms of the Management Agreement dated 6 July 2007 between the Company and its Investment Manager, Shiva Consultants Private Limited ("Shiva"), the Company is entitled to terminate the Management Agreement by serving 12 months' notice.

 

With effect from 20 May 2011, the Board has served 12 months' notice of termination to Shiva, who will remain the Company's Investment Manager until 19 May 2012.  Shiva will continue to have the full support of the Board in implementing their strategy throughout this period.

 

A further update regarding future strategy and investment management arrangements will be provided in due course.

 

 

23 May 2011

 

 

For further information, please contact:

 

Dhir India Investments plc

Evolution Securities

Tavistock Communications   

Charlie Hambro

Jeremy Ellis

Jeremy Carey

 

Chris Clarke

Simon Hudson

Tel: +44 (0)7776 196674

Tel: +44 (0)20 7071 4300

Tel: +44 (0)20 7920 3150

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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