Doc re. Statement regarding change in management at investment manager
(Thomson Reuters ONE) - Not for distribution, directly or indirectly, in or into the United States orany jurisdiction in which such distribution would be unlawful.Indochina Capital Vietnam Holdings Limited ("ICV" or the "Company")25 Jan 2010Indochina Capital Advisors (the 'Investment Manager') has informed the Companythat Beat Schuerch is resigning as CEO of the Investment Manager with effectfrom 31 January 2010 to join another Vietnam focused fund manager. Hisresponsibilities will be assumed by one of the principals of Indochina Capital,Rick Mayo-Smith, who has chaired the Company's Investment Committee since 27November 2008.Beat Schuerch has agreed, with the consent of his new employer, to provideadvice to the Investment Manager on the on-going realisation of assets withinthe Company's portfolio until the Company enters liquidation. Commenting on theimpending change in management Gordon Lawson, Chairman of the Company, said:"We appreciate the willingness of all parties involved to look after theinterests of ICV shareholders and very much welcome that ICV can continuerelying on Beat's advice for the realisation of ICV's remaining portfolio. Wealso welcome the appointment of Rick Mayo-Smith who has over 15 years ofinvestment experience in Vietnam to take responsibility for the realisation ofall remaining assets from 1 February 2010."The Company has realised around 90 per cent. of its portfolio since shareholdersvoted on 3 September 2009 to amend the Company's investment policy and begin anorderly realisation of assets. There are eight positions left in the portfolio,seven of which are private equity or OTC investments and one of which is alisted position that has lock-up provision until August 2010. The InvestmentManager is at an advanced stage of selling one of the private equity positionsand will have the data-rooms and information memorandums for the remainingprivate equity and OTC positions ready during February for potential investorsto review.Beat Schuerch joined Indochina Capital Advisors in 2006 as the COO/CFO playingan instrumental part in the IPO of the Company and in early 2009 he was promotedto the position of CEO of the Investment Manager. The directors would like tothank Beat for his contribution over the last 3 years to the Company and inparticular, for his handling of the realisation of ICV's portfolio to date.For further information, please contact:Arbuthnot Securities Tel:+44 20 7012 2000Alastair Moreton / Hannah PearceIndochina Capital Advisors (Investment Manager) Tel: +84 8 3520 2002Rick Mayo-Smith, CEO EquitiesEnd of Announcement[HUG#1376556]
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Datum: 25.01.2010 - 02:02 Uhr
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