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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