TIDMERE

RNS Number : 0406M

Eredene Capital PLC

12 September 2012

Date: 12 September 2012

On behalf of: Eredene Capital PLC ("Eredene" or the "Company" and its subsidiaries "the Eredene Group")

Embargoed until: 0700hrs

Eredene Capital PLC

Resignation of Eredene Infrastructure Private Limited as adviser and of Nikhil Naik as a director

Eredene Capital PLC (AIM: ERE), the AIM quoted investor in Indian infrastructure, announces that Eredene Infrastructure Private Limited ("EIPL") has resigned as an adviser to the Eredene Group. This resignation is subject to a contractual notice period of one year. Eredene has previously announced it does not intend to make further investments into new projects in India and, accordingly, the Company no longer requires the investment advisory services of EIPL.

As a consequence, Eredene also announces that Nikhil Naik, Chairman of EIPL, and a non-executive director of the Company, is stepping down from the board of the Company with effect from today.

Eredene would like to place on record its gratitude to Nikhil Naik and the EIPL team for their commitment and dedication in relation to the building of the Group's investment portfolio.

The Group has informed EIPL that it will not require EIPL to provide investment advisory services to the Group during the notice period. Eredene has established an internal team, headed by Ranveer Sharma, reporting to the Eredene Group, in order to facilitate the extraction of maximum value from the existing Eredene portfolio.

Enquiries:

Eredene Capital PLC

   Alastair King (Chief Executive) / Ranveer Sharma                            Tel: +44 20 7448 8000 
   Numis Securities Limited (Nominated Advisor & Joint Broker)      Tel: +44 20 7260 1000

Heraclis Economides / David Benda

Arden Partners plc (Joint Broker) Tel: +44 20 7614 5917

Chris Hardie / Justine Waldisberg

Redleaf Polhill

   Henry Columbine / Rebecca Sanders-Hewett / David Ison               Tel: +44 20 7566 6720

eredene@redleafpr.com

Notes to Editors:

-- Eredene Capital PLC is a leading UK-based AIM quoted investor in infrastructure projects in India. It focuses primarily on ports, port services, logistics and transportation.

-- The Eredene Group has made investments of GBP47.5m in 11 projects in India - nine in ports and port services, logistics and distribution warehouses, one in an IT office and one in a large-scale, affordable housing development. Seven of its investee companies are revenue generating, of which two are dividend paying.

-- Eredene trades on the Alternative Investment Market ("AIM") of the London Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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