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RENFIN Limited - Change of Investment Manager
Hamilton, Bermuda: 28 August, 2007 - The Board of Directors of RenFin Limited (the "Company") wish to announce that, as of 24 July 2007, the Company's investment manager will change from Renaissance Capital Investment Management Limited to Kashtan Limited ("Kashtan"), a newly incorporated company organised under the laws of the Cayman Islands. The Company will be Kashtan's first client.
The investment management agreement between the Company and Kashtan may be terminated by either the Company or Kashtan upon 30 days' written notice or at any time if the other party commits a material breach of the terms of the agreement without remedying such breach within 10 days of being notified to do so, or if the other party goes into liquidation (save for voluntary liquidation for the purposes of reconstruction or amalgamation on terms previously approved in writing by the party wishing to terminate) or a receiver is appointed over all or any of the other's assets.
For further information on the Company please contact:
Marina Chekurova - mchekurova@rencap.com , +7 495 258 7788 ext 4812, or Sergey Nazarov - snazarov@rencap.com, +7 495 258 7788 ext 4851.