Business
Open letter to the board of icapital.biz Berhad
Open letter to the board of icapital.biz Berhad.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n \nRNS Number : 4806P City of London Investment Group PLC 31 August 2017 \n\nCITY OF LONDON INVESTMENT GROUP PLC\n \nTEXT OF LETTER TO ICAPITAL.BIZ BERHAD\n \n(LONDON, 31 August, 2017) - City of London Investment Management has sent a letter (published in full below) to the board of icapital.biz Berhad (ICAP:MK) explaining its intention to oppose the re-election of directors at ICAP's forthcoming AGM.\n \nBackground\nCity of London Investment Group is an institutional fund manager which specialises in investing in closed-end investment companies. The firm is authorised and regulated by the Financial Conduct Authority and registered as an Investment Advisor with the Securities and Exchange Commission.\n \nFor further information, please contact:\n \nSimon Westlake\nCity of London Investment Group\n+44-(0)-20-7711-1552\[email protected]\n \nFull text of letter\n \nThe Directors\nicapital.biz Berhad\nLot 6.05, Level 6 KPMG Tower\n8 First Avenue, Bandar Utama\n47800 Petaling Jaya\nSelangor\nMalaysia\n 31 August 2017\n \nDear Directors\n \n13th Annual General Meeting of icapital.biz Berhad (\"ICAP\" or the \"Company\")\n \nFunds advised by City of London Investment Management Ltd (\"CLIM\" or \"we\") are long term investors in ICAP. We first purchased ICAP shares on 19 May 2010. As at 31 August 2017 we own 24,056,100 shares, 17.18% of the Company. We write to advise that we will vote against the re-election of Dato' Sri Syed Ismail Bin Dato' Haji Syed Azizan at the 13th A...