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Investcorp receives approval to issue further $40m of preference shares to meet demand

Bahrain: Wednesday, September 30 - 2009 at 13:38
PRESS RELEASE

Shareholders at Investcorp's Extraordinary General Assembly today voted to issue a further $40m of preference shares to meet additional demand from investors who subscribed to Investcorp's recent capital raise.

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Investcorp had received commitments in excess of the $500m of shares that could be issued under the Firm's current Memorandum of Association. An amendment approved by the shareholders today will enable Investcorp to issue additional preferences shares to cover this oversubscription.

Nemir A. Kirdar, Investcorp's Executive Chairman & CEO, said:

"We have seen strong demand for our preference share issue, which we see as a confirmation of the enormous confidence in Investcorp. This will further boost our economic capital, meet our deleveraging objectives and support our new business growth. The Firm, with its new leadership structure, is ready to focus on the future and recovering market opportunities."

Mr Kirdar also thanked Investcorp's clients, shareholders and friends of the Bank for their continuous support, and the board of directors and staff for their contributions and commitment.

All resolutions put forward to Investcorp shareholders at the Annual General Meeting and Extraordinary General Meeting held earlier today were duly passed. This included the amendment to increase Investcorp's authorised share capital to $2.0bn.

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Related site: http://www.investcorp.com

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About Investcorp:

Investcorp is a leading provider and manager of alternative investment products. It has offices in London, New York and Bahrain and is publicly traded on the London Stock Exchange (IVC) and the Bahrain Stock Exchange (INVCORP). Investcorp has five lines of business: private equity, hedge funds, real estate, technology investment and Gulf Growth Capital. Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography. Further information is available at http://www.investcorp.com.

Media contacts:

Investcorp (Bahrain)
Firas El Amine
+973 3998 7838

Brunswick Gulf Ltd
Rupert Young/Jeehan Balfaqaih
+971 4 365 8260

Investcorp (London)
Deborah Botwood Smith
+44 20 7629 6600

Posted by Siba Sami Ammari
Wednesday, September 30 - 2009 at 13:38 UAE local time (GMT+4)

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Investcorp receives approval to issue further $40m of preference shares to meet demand

Shareholders at Investcorp's Extraordinary General Assembly today voted to issue a further $40m of preference shares to meet additional demand from investors who subscribed to Investcorp's recent capital raise.

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