ADU Advance UK Tst.

 

TIDMADU TIDMIIP 
 
RNS Number : 2501E 
Advance UK Trust PLC 
16 December 2009 
 

Statement re: Infrastructure India plc 
 
 
16th December 2009 
 
 
Advance UK Trust plc has written to the Board of Infrastructure India plc. The 
letter was delivered to them on 14 December 2009. The full text of the letter is 
below. 
 
 
 
 
The Board of Directors 
Infrastructure India PLC 
IOMA House 
Hope Street 
Douglas 
Isle of Man IM1 1AP 
 
 
December 2009 
 
 
 
 
Dear Sirs, 
 
 
INFRASTRUCTURE INDIA PLC (the "Company") 
 
 
We, the undersigned, acting on behalf of Advance UK Trust PLC, being a member of 
the Company holding in aggregate 3,705,000 ordinary 1p shares in the Company 
("Ordinary Shares") representing 10.1 per cent. of the issued ordinary share 
capital of the Company and comprising more than ten per cent. of the total 
voting rights of all members having a right to vote at general meetings, hereby 
require the directors of the Company: 
 
 
  *  in accordance with Section 67 (2) of Isle of Man Companies Act 2006, to call a 
  general meeting of the Company to consider and, if thought fit, pass the 
  following resolutions which are to be proposed as ordinary resolutions at such 
  meeting: 
 
 
 
 
 
ORDINARY RESOLUTIONS 
THAT 
  1.  Patrick Rupert Cottrell be removed from office as a Director of the Company with 
  immediate effect 
  2.  Prodaman Kumar Sarwal be removed from office as a Director of the Company with 
  immediate effect 
  3.  Timothy Graham Walker be removed from office as a Director of the Company with 
  immediate effect 
  4.  Geoffrey Richard Miller be appointed as a Director of the Company with immediate 
  effect 
  5.  John Charles Bourbon be appointed as a Director of the Company with immediate 
  effect 
 
b. to circulate to members, entitled to have notice of such general meeting sent 
to them, a statement in the form 
    attached to this requisition with respect to the matters referred to in the 
resolutions referred to in (a) above. 
 
 
 
 
Yours faithfully, 
 
 
+---------------------------+------------------------+----------------------+ 
| Member                    |  Number of Ordinary    |Percentage of issued  | 
|                           |      Shares held       |    ordinary share    | 
|                           |                        |       capital        | 
+---------------------------+------------------------+----------------------+ 
|                           |                        |                      | 
+---------------------------+------------------------+----------------------+ 
| For and on behalf of      |       3,705,000        |        10.1%         | 
| Nortrust Nominees Limited |                        |                      | 
| a/c AUK01                 |                        |                      | 
+---------------------------+------------------------+----------------------+ 
|                           |                        |                      | 
+---------------------------+------------------------+----------------------+ 
Statement to the shareholders of Infrastructure India PLC regarding the 
resolutions to be proposed at the general meeting 
 
 
NEW FOCUS ON SHAREHOLDER VALUE FOR 
INFRASTRUCTURE INDIA PLC 
 
 
This statement has been issued on behalf of a shareholder ("Advance UK"), 
holding 10.1 per cent. of the issued share capital of Infrastructure India PLC 
("the Company"), who has requisitioned a general meeting of the Company. 
Advance UK believes the Company is sub scale, with an overhead that is far too 
large for a company of its size and needs to be expanded or sold onto another 
infrastructure company with greater resources. They believe the investment 
adviser, Bloomsbury Asset Management Advisors, would thrive in such an 
environment. They believe other shareholders would reject rightly any attempt by 
the current Board to increase the size of the Company via a dilutive issue of 
new shares at a discount to net asset value. 
Advance UK was extremely surprised and disappointed to see the Board going down 
the path of forging a new corporate alliance to invest in the transport and 
logistics sector without adequately consulting its investment adviser or 
shareholders. Advance UK think the status quo ante needs to be restored as soon 
as possible and therefore propose replacing the Board with a streamlined version 
with a focus on reducing overheads and working with the investment adviser to 
maximise shareholder value over the coming year. 
The proposed directors have considerable relevant experience. 
 
 
Geoff Miller, aged 43, has been involved in the investment company industry for 
twenty two years as an analyst, fund manager and director. He is a specialist in 
the financial sector, with twenty years experience in research and fund 
management in the UK, most recently as Director, Research at Bridgewell 
Securities Limited, before moving offshore. After working for a major Russian 
bank he is now an independent consultant and a non-executive director of Asset 
Management Investment Company PLC and Chairman of Greenwich Loan Income Fund 
Limited. He is not resident in the UK. 
 
 
John Bourbon, aged 52, is licensed by the Isle of Man Financial Supervision 
Commission to act as a Corporate Service Provider and a Trust Service Provider. 
Mr Bourbon has a background in private client investment and trust management 
gleaned from the Barclays Financial Services Group where he worked for 22 years 
from 1974 to 1996. He subsequently became Head of Supervision at the Isle of Man 
Financial Supervision Commission from 1996 to 2000. From 2000 to 2002, Mr. 
Bourbon was the Managing Director of the Cayman Islands Monetary Authority. 
Subsequent to this he returned to the Isle of Man setting up both KYCOS Limited 
and latterly John Bourbon Consulting Limited through which he provides advice 
and guidance on compliance and corporate governance issues. Mr. Bourbon holds a 
MSc in Financial Services Regulation and is a fellow of the Compliance 
Institute, The Chartered Institute of Bankers and the Chartered Institute of 
Securities and Investment. Mr Bourbon is the Chairman of the United Kingdom 
Compliance Institute. Mr Bourbon is also a director of AIM listed Dhir India 
Investments PLC and The Value Catalyst Fund Limited. Mr Bourbon is resident in 
the Isle of Man. 
 
 
Contact: 
James Carthew, Progressive European Markets, manager of Advance UK Trust PLC +44 
(0)20 7566 5531 
 
 
 
 
End 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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