ARC Capital Holdings Limited Shareholder update (9092Y)

TIDMARCH

RNS Number : 9092Y

ARC Capital Holdings Limited

04 December 2014

4 December 2014

ARC Capital Holdings Limited

("ARCH" or the "Company")

Shareholder update

The board notes the recent price movement and unusually high trading volume in ARCH shares. Whilst the Company has not received any formal notification as to the identity of the new controller of a significant number of ARCH shares, the board understands that there are rumours that some or all of the larger purchases are connected to the former investment manager to the Company, ARC Capital Partners Limited, or entities related to it or the PAG group.

The board recently convened the Company's AGM at which it is proposed to amend the Company's articles of association with a view to enhancing minority shareholder protection by requiring shareholders to disclose their interests in shares and to require a shareholder acquiring more than 30 per cent of the shares to make an offer to acquire all of the issued shares of the Company or otherwise face disenfranchisement. The board is concerned that the acquisition of these shares is being undertaken with a view to ensuring the AGM resolutions will not be passed.

Shareholders are reminded that on 15 August 2014 the Company announced that it had issued legal proceedings claiming damages in the sum of at least RMB480 million against ARC Capital Partners Limited for negligence and/or breach of the investment management agreement.

For more information, please contact:

 
 ARC CAPITAL HOLDINGS LIMITED:   NOMINATED ADVISER: 
  Steve Feniger, Chairman         Philip Secrett 
  of the Board                    Grant Thornton Corporate 
  [e-mail]         Finance 
                                  T: (44) 20 7383 5100 
                                  [e-mail] 
------------------------------  ---------------------------- 
 BROKER: 
  Numis Securities Limited 
  David Benda / Hugh Jonathan 
  T: (44) 20 7260 1000 
  F: (44) 20 7260 1001 
  [e-mail] 
------------------------------  ---------------------------- 
 

About ARC Capital Holdings Limited

ARC Capital Holdings Limited ("ARCH") (AIM: ARCH) is a closed-end investment company with net assets of US$75.50 million as at 30 September 2014. ARCH was admitted to trading on the AIM Market of the London Stock Exchange in June 2006. ARCH holds investments in the retail, consumer goods and consumer services sectors, principally in China.

For more information about ARC Capital Holdings Limited, please visit: www.arch-fund.com

This information is provided by RNS

The company news service from the London Stock Exchange

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