New Investments, Change of Reg Office & Website

RNS Number : 6509K

Hermes Pacific Investments PLC

23 August 2012

 



HERMES PACIFIC INVESTMENTS PLC

(the "Company")

New Investments, Change of Registered Office & Website

The Company is pleased to announce that it has made three investments in line with its newly adopted investment policy (the "Investments").

The Company has invested £48,519 in the ordinary equity of Deutsche Forfait AG, which is listed on the Deutsche Börse and is involved in trade finance with a focus on emerging markets, including South East Asia. The Company has also invested £24,212 in the ordinary equity of DBS Bank Limited and £24,896 in the ordinary equity of Overseas Chinese Banking Corporation Limited, which are both listed on the Singapore Stock Exchange and involved in the banking industry in South East Asia. All investments were made at market price.

The Investments are in accordance with the Company's investing policy agreed at the general meeting held on 20 August 2012.

The Company also announces that it has changed its registered office to 201 Temple Chambers, 3-7 Temple Avenue, London EC4Y 0DT and that its website has changed to www.hermespacificinvestments.com. The information required by AIM Rule 26 is available at this address.

Further information please contact:

Hermes Pacific Investments Plc
Haresh Kanabar, Non-Executive Chairman Matt Wood, Non-Executive Director	Tel:  [phone]
WH Ireland
Nominated Adviser & Broker
Marc Davies/ Mike Coe	Tel: [phone]

Note to Editors:

The Company's investment policy was approved by shareholders at a general meeting of the Company held on 20 August 2012.   The proposed investments to be made by the Company may be either quoted or unquoted; made by direct acquisition of an equity interest; may be in companies, partnerships, joint ventures; or direct interests in projects in South East Asia including, but not limited to, investments in the financial sector. The Company's equity interest in a proposed investment may range from a minority position to 100 per cent. ownership.

The Company will identify and assess potential investment targets and where it believes further investigation is required and subject to assessment of potential risk, intends to appoint appropriately qualified advisers to assist.

The Company proposes to carry out a project review process in which all material aspects of any potential investment will be subject to due diligence, as considered appropriate by the Board. It is likely that the Company's financial resources will be invested in a small number of projects  or  potentially in just one investment which may be deemed to be a reverse takeover under the AIM Rules.

Where this is the case, it is intended to mitigate risk by undertaking an appropriate due diligence process. Any transaction constituting a reverse takeover under the AIM Rules will require Shareholder approval. The possibility of building a broader portfolio of investment assets has not, however, been excluded.

The Company intends to deliver shareholder returns principally through capital growth rather than capital distribution via dividends. Given the nature of the Company's Investment Policy, the Company does not intend to make regular periodic disclosures or calculations of net asset value.

 

END

 

 

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