GVA Govett Asian

RNS Number:0226J
Govett Asian SmallerCo'sInv.Tst Ld
24 August 2001


The Board of Govett Asian Smaller Companies Investment Trust Limited ("the
Company") received on 23 August 2001 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. The
requisition requires the meeting to consider six resolutions. The first five
resolutions propose the removal of each of the existing Directors and their
replacement with Jonathan Bradley, Hugh Durell, Anderson Whamond, Carlos Horner 
and William Kay. The sixth resolution is conditional on the first five becoming
unconditional and proposes that these new directors put forward proposals which
allow shareholders the opportunity to exit their investment in the Company for
cash at a minimum of 95 per cent of net asset value per share.


The Board is considering this requisition and will be writing to shareholders
shortly. 

Peter Robertson, Chairman of Govett Asian Smaller Companies Investment Trust
Limited, said

"The Board is surprised to have received another requisition from Charlemagne
Capital, especially in the light of the defeat of their liquidation resolution
at the extraordinary general meeting convened by them in June. We are very
disappointed that they should seek to incur yet more cost for the Company by
calling a meeting to reconsider an issue that was rejected only two months ago."

Enquiries:

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

James de Sausmarez             020 7378 7979 
Govett Investment Management Limited

Angus Gordon Lennox            020 7588 2828 
Cazenove & Co. Ltd

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