Stmnt re Recon. Proposals

RNS Number:1474K
Govett Asian SmallerCo'sInv.Tst Ld
17 September 2001


Govett Asian Smaller Companies Investment Trust Limited

The Board of Govett Asian Smaller Companies Investment Trust Limited ("the 
Company") announced on 24 August 2001 that it had received a requisition from 
Charlemagne Capital holding not less than one tenth of the issued share capital,
requesting that the Directors convene an extraordinary general meeting of the 
Company.

In the light of discussions with shareholders, the Board is aware that certain 
shareholders, in addition to Charlemagne, wish to have the flexibility to be 
able to exit from their investment in the Company. Accordingly, the Board has 
decided that it will put forward recommended proposals for the reconstruction of
the Company. These proposals will include an option for shareholders to elect to
continue their investment in Asian stock markets through a Govett-managed open-
ended fund or to elect to receive cash in fall at net asset value less costs. 
The Board intends to effect these proposals as soon as practicable and will, 
subject to the receipt of required clearances, publish the details of these 
proposals and give notice of the necessary extraordinary general meeting before 
the end of October 2001, with the scheme becoming effective, subject to 
shareholder approval, within a further five weeks.

The Board announces that the requisition that was the subject of its 
announcement on 24 August 2001 has been withdrawn.

Enquiries:

Peter Robertson 01672 811535 
Chairman, Govett Asian Smaller Companies Investment Trust Limited

James de Sausmarez 020 7378 7979 
Govett Investment Management Limited

Augus Gordon Lennox 020 7588 2828 
Cazenove & Co. Ltd