Trikona Capital: Notification

Written by Businesswire India | Mumbai | Updated: Jan 27 2010, 15:51pm hrs
Trikona Trinity Capital has announced (RNS number 0477G) the appointment of Rothschild (as lead adviser) and DTZ (as co-adviser) to assist the Company in relation to the selection and appointment of a replacement for Trikona Advisers Limited ("TAL") as the Company's portfolio manager. This follows the Company's announcement (RNS number 8837D) of 10 December 2009 that it had served a notice of termination (the "Notice") on TAL in relation to the Portfolio Management Agreement dated 13 April 2006 (the "PMA") pursuant to which TAL was appointed as the Company's exclusive portfolio manager for a ten year term.

This announcement is to notify any third parties that TAL disputes the Company's entitlement to terminate the PMA and seek a replacement manager. TAL further notifies formally that the Notice served by the Company is invalid and without effect. It discloses neither any grounds for termination nor does it identify any breaches which TAL is required to remedy. TAL will dispute the entitlement of the Company to seek to replace TAL. TAL further contends that the Notice does not operate so as to terminate the PMA and that any third party seeking to perform these functions will necessarily be interfering with the legitimate rights of TAL under the PMA.