The statement went on to say, " None of such Shareholders has formally requested to redeem any of its Shares in the Fund. However, in the medium term such Shareholders have indicated that they do not see themselves as continuing to participate as shareholders in the Fund. Accordingly the Directors have been considering a number of the options that may be available to the Fund in conjunction with the Fund's manager, INVESCO Asset Management Limited, and the Fund's legal and other professional advisers. The Directors have now concluded that they will be seeking Shareholder approval to the compulsory redemption of all outstanding Shares in the Fund and the winding up of the Fund and its business. Investors will be offered the option of investing the proceeds of such redemption into units of the INVESCO GT India Fund, which also invests in India and is managed by the same portfolio management team as is responsible for the Fund. Further details relating to these Proposals and a Notice convening the necessary Extraordinary General Meeting of Shareholders are contained in a Circular which is being sent to Shareholders today."Pending the holding of such EGM (which is scheduled for 4 August, 2000), the Directors have agreed with the Bermuda Stock Exchange that the listing of the Company's Shares on the Stock Exchange will be suspended. The Directors have also determined that until such EGM there shall be no further dealing days and hence no further issues in redemptions of shares in the Fund.
