31 Oct 2008 07:00
Trikona Trinity Capital PLC
("Trikona TC" or "the Company")
Board changes and strategic review
31 October 2008
Further to the announcement on 14 October 2008, the Board of Trikona Trinity Capital PLC announces that it has appointed Andrzej Sobczak and Pradeep Verma as non-executive directors, with immediate effect.
Andrzej Wiktor Sobczak (58) (a resident of the United Kingdom) is currently Deputy Chief Executive of Carrousel Capital Ltd and has over thirty five years' experience in Investment Banking, most recently at Winterflood Securities, where he was a director of corporate broking. Carrousel Capital Ltd holds 33,151,853 ordinary shares (14.3%) in the Company.
Pradeep Verma, CFA (55) joined Carrousel Capital in mid 2007 as a Quant Fund Manager to develop and back test various quant strategies for its fund. Currently, he is working as a Managing Director of QuantInvest, the company he set up in September 2008 in Singapore to develop new business relationships for Carrousel Capital's flagship fund. Pradeep is a qualified CFA and CPA from USA, and ACA from India. He has over twenty five years' investment management experience.
The Board also announces that it has committed to undertake a strategic review, which will include a review of the ongoing investment policy and the strategy regarding distributions of capital. During the review period, the Company shall refrain from making investments in any new assets, reserve any cash resulting from disposals and also refrain from any capital distributions until such time as the strategic review has been concluded.
The Board of Trikona TC has also been informed that the requisition to call an extraordinary general meeting, as announced on 14 October 2008, will be withdrawn.
Andrzej Sobczak commented:
"The new directors look forward to working with Trikona Trinity Capital and its management team with a view to maximising shareholder value."
A further announcement regarding the strategic review will be made in due course.
Enquiries:
Trikona Trinity Capital PLC
Michael Cassidy
Chairman
+44 01624 681 250
Trikona Capital Limited (the manager of Trikona Trinity Capital PLC)
Aashish Kalra,
Managing Director
+91 11 4659 6000
Sally Lewis,
Director of Investor Relations
+44 207 148 5360
Bell Pottinger Corporate & Financial
Mike Davies/ Sarah Williams
+44 207 861 3232
Numis Securities
Nominated Adviser: Lee Aston, Head of Corporate Finance
Corporate Broking: Charles Farquhar
+44 207 260 1000
Fairfax I.S. PLC
Paul Richards, Head of Corporate Finance
+44 207 598 5368
AIM Rule 17 Disclosures
Disclosures required relating to Andrzej Sobczak's appointment pursuant to Rule 17 or to Schedule two paragraph (g) of the AIM Rules for Companies:
Current Directorships:
Equest Balkan Properties
Directorships in the last five years:
Artemis Alpha Trust PLC
Britannic UK Income Trust PLC (voluntary winding up)
Disclosures required relating to Pradeep Verma's appointment pursuant to Rule 17 or
to Schedule two paragraph (g) of the AIM Rules for Companies:
Current Directorships:
None
Directorships in the last five years:
None
Notes to Editors:
Trikona Trinity Capital PLC (AIM: TRC) was listed on the London Stock Exchange as Trinity Capital in 2006, raising GBP250m of equity. The fund invests in real estate and infrastructure related entities across India, with a target size of between GBP5m and GBP30m per transaction. Becoming fully invested six months ahead of schedule, its investment strategy is to select developers with a proven track record in the asset class or in the local market, with the specific notion of contributing to India's growth. The Company also adopts a socially aware attitude to development, investing in projects which will actively improve India's underdeveloped social and physical infrastructure. The Company is managed by Trikona Capital, a fund manager focused on investing in Indian real estate and infrastructure.
www.trikonatrinitycapitalplc.com