29th Sep 2009 14:12
29 September 2009
China Growth Opportunities Limited
Termination of Asset Divestment Support Agreement with London Asia Capital (S) Pte Limited
China Growth Opportunities Limited (the "Company") has today given notice to terminate the Asset Divestment Support Agreement with London Asia Capital (S) Pte Limited. There is no cost to the Company of the termination of the Asset Divestment Support Agreement.
The Board will continue to manage the sale of the Company's investments, and the Company's investment activities will now be fully self-managed, which will reduce the investment consultancy costs to the Company significantly. Mr Davies and Mr Miller, who are currently Non-Executive Directors will become Executive Directors with immediate effect.
With regard to the implementation of Company's investment objective, of maximising the return of invested capital to shareholders during the period ending on 30 September 2010, the Company continues to selectively solicit offers and actively manage certain of the investee companies. The Board believes that the Directors have sufficient experience to manage the sale of the Company's remaining six investments.
Mr Davies (Chairman) said:
"Since Mr Miller and I were appointed to the Board of the Company on 23 January 2009, we have reduced investment consultancy costs significantly, the Company has sold or agreed to sell five of its eleven investments and, after the return of a further 2 pence per share to shareholders due on 5 October 2009, will have returned 20 pence per share to shareholders."
For further information please visit www.chinagrowthopportunities.com or contact:
|
Hugh Field Collins Stewart Europe Limited Tel: +44 20 7523 8000 |
Elysium Fund Management Limited PO Box 650 No. 1 Le Truchot St Peter Port Guernsey GY1 3JX Tel: +44 1481 810 100 Fax: +44 1481 810 120 e-mail: e[email protected] |
Related Shares:
FFWD.L