Last checked at 15 Apr 2010 17:59
| Date: | 15 April 2010 |
| On behalf of: | Infrastructure India plc |
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| 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.
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Enquiries:
| Infrastructure India plc | www.iiplc.com |
| Rupert Cottrell | Via Redleaf Communications |
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| Akur Partners LLP | 020 7955 1513 |
| Andrew Dawber / Anthony Richardson / Thomas Frost |
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| Smith & Williamson | 020 7131 4000 |
| Azhic Basirov / Siobhan Sergeant |
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| Redleaf Communications | 020 7566 6700 |
| Emma Kane / Adam Leviton / Henry Columbine | iif@redleafpr.com |