AIM Schedule One - India Capital Growth Fund Limited (3600N)
July 28 2014 - 3:00AM
UK Regulatory
TIDMIGC
RNS Number : 3600N
AIM
28 July 2014
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION
IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM
RULES")
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COMPANY NAME:
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India Capital Growth Fund Limited
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY
TRADING ADDRESS (INCLUDING POSTCODES) :
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Registered office:
1(st) Floor Tudor House
Le Bordage
St Peter Port
Guernsey
GY1 1DB
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COUNTRY OF INCORPORATION:
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Guernsey
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED
BY AIM RULE 26:
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www.indiacapitalgrowth.com
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE
TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
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The Company's Ordinary Shares were admitted to trading on AIM
on 22 December 2005. The Company is proposing to issue Subscription
Shares by way of a bonus issue to Qualifying Shareholders of
up to 37,500,731 of a new class of Subscription Shares free
of payment on the basis of one Subscription Share for every
two Ordinary Shares held.
The Company's investment objective was, on initial admission
to trading on AIM, and continues to be, to provide long-term
capital appreciation by investing directly or indirectly, in
companies based in India. The investment policy permits the
Group to make investments in a range of Indian equity and equity-linked
securities and predominantly in listed mid and small cap Indian
companies with a smaller proportion in unlisted Indian companies.
Investment may also be made in large-cap listed Indian companies
and in companies incorporated outside India which have significant
operations or markets in India.
While the principal focus is on investment in listed or unlisted
equity securities or equity linked securities, the Company
has the flexibility to invest in bonds, including non-investment
grade bonds, convertibles and other types of securities.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS
AS TO TRANSFER OF THE SECURITIES (i.e. where known, number
and type of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury
shares):
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37,500,731 Subscription Shares with no par value to be issued
free of payment on the basis of one Subscription Share for
every two Ordinary Shares held. There are no restrictions on
transfer.
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED
MARKET CAPITALISATION ON ADMISSION:
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No capital will be raised on admission. The market capitalisation
of the Subscription Shares is anticipated to be approximately
GBP380,000 at admission.
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
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28.8%
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH
THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES
(INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:
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None.
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS
(underlining the first name by which each is known or including
any other name by which each is known):
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Francis (Fred) Christopher Carr, Non-executive Chairman
John Richard Whittle, Non-executive Director
Peter Niven, Non-executive Director
Vikram Girish Kaushik, Non-executive Director
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED
AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER
ADMISSION (underlining the first name by which each is known
or including any other name by which each is known):
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No shareholder has any interest in the Subscription Shares
before admission. One Subscription Share will be issued for
every two Ordinary Shares held by a shareholder on the Record
Date. Based on the holdings of significant shareholders at
the date of the admission document, holdings by significant
shareholders in Subscription Shares will be:
Lazard Asset Management, 17.22%
Advance Emerging Capital, 10.75%
1607 Capital Partners, 9.38%
Rathbone Investment Management, 7.01%
Sofina SA, 6.70%
Gramercy Funds Management LLC, 5.81%
Miton Asset Management, 5.13%
Henderson Global Investors, 3.89%
Lombos Limited, 3.63%
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (H) OF THE AIM RULES:
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None
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION
DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
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(i) 31 December
(ii) audited financial statements for the three years ended
31 December 2011, 31
December 2012, 31 December 2013. These accounts are not included
in the Admission Document, but they are available on the Company's
website.
(iii) 30 June 2014 interims by 30 September 2014, 31 December
2014 annual financial statements by 30 June 2015, 30 June 2015
interims by 30 September 2015
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EXPECTED ADMISSION DATE:
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12 August 2014
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NAME AND ADDRESS OF NOMINATED ADVISER:
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Grant Thornton UK LLP
30 Finsbury Square
London EC2P 2YU
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NAME AND ADDRESS OF BROKER:
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Numis Securities Limited
The London Stock Exchange Building
10 Paternoster Square
London EC4M 7LT
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE
(POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE
AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
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The admission document will be will be available for inspection
at the registered office of the Company at 1(st) Floor Tudor
House, Le Bordage, St Peter Port, Guernsey, GY1 1DB during
normal office hours, Saturdays and Sundays excepted, from the
date of the document until the date which is one month following
admission and from the Company's website at www.indiacapitalgrowth.com
subject to certain access restrictions.
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DATE OF NOTIFICATION:
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28 July 2014
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NEW/ UPDATE:
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New
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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