Dhir India Investments : Offer Closed

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, OR FROM, ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

Cash Offer by Acorn Global Investments Limited for Dhir India Investments plc Offer Closed

On 12 January 2012, Acorn Global Investments Limited ("Acorn") announced that its cash offer (the "Offer") of 42 pence per Dhir India Investments plc ("DII") share (the "Offer Price") for the entire issued and to be issued ordinary share capital of DII was wholly unconditional and that the Offer would remain open until 1.00 pm on 25 January 2012 at which time it would be closed.

Level of Acceptance

As at 1:00 p.m. on 25 January 2012, Acorn had received valid acceptances of the Offer in respect of 16,144,931 DII Shares representing, in total, approximately 96.87 per cent. of DII's entire issued share capital.

Prior to making the Offer, neither Acorn, the Acorn Directors nor any persons acting in concert with Acorn owned or had any beneficial or non-beneficial interest in the share capital of DII.

Save as disclosed in this announcement, neither Acorn, the Acorn Directors nor any persons acting in concert with Acorn, is interested in or has any rights to subscribe for any DII Shares nor does any such person have any short position (whether conditional or absolute and whether in the money or otherwise), including any short position under a derivative or any arrangement in relation to DII Shares. For these purposes, "arrangement" includes any agreement to sell or any delivery obligation or right to require another person to purchase or take delivery of DII Shares and any borrowing or lending of DII Shares which have not been on-lent or sold and any outstanding irrevocable commitment or letter of intent with respect to DII Shares.

Consideration

Settlement of the consideration due to DII Shareholders who have already provided valid and complete acceptances under the Offer will be despatched (or in respect of DII Shares held in uncertificated form, credited through CREST) within 14 days of the date on which such acceptances are received or, in the case of electronic acceptances, made.

Compulsory acquisition and quotation on AIM

Acorn now owns 96.87 per cent. of DII's entire issued share capital. In view of this and having taken advice, Acorn does not believe it is feasible to meet the conditions necessary for DII to continue to be suitable for quotation on AIM. Accordingly, Acorn has decided to seek cancellation of admission of DII's shares to trading on AIM as soon as practicable. Pursuant to AIM Rule 41, the Company's shares will be cancelled from trading on AIM at 7:00 a.m. on Thursday 23 February 2012.

A decision will be taken in due course as to whether or not Acorn wishes to exercise its right in accordance with, and within the time limits prescribed by, Isle of Man company law to compulsorily acquire the DII shares not already owned by Acorn at 1:00 p.m. on 25 January 2012 and such decision, when made, will be notified to the holders of the DII Shares not owned by Acorn.

Further Information

A copy of all announcements made by Acorn and documents sent by Acorn, including the Offer Document and this announcement, are available at Acorn's website at: http://www.acornglobalinvestments.net.

The expressions used in this announcement, unless the context otherwise requires, bear the same meaning as in the Offer Document dated 20 December 2011.

Enquires: Acorn Global Investments Limited [phone] Anup N Dalal

Cairn Financial Advisers LLP - Financial Advisers to [phone] Acorn

Tony Rawlinson / Jo Turner

Cairn Financial Advisers, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Acorn and no-one else in connection with the Offer. Cairn Financial Advisers will not be responsible to anyone other than Acorn for providing the protections afforded to clients of Cairn Financial Advisers or for giving advice in relation to the Offer or the content of, or any matter or arrangement referred to in, this announcement.

Responsibility

Each of the Acorn Directors accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of each of the Acorn Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

This announcement does not constitute an offer or an invitation to purchase or subscribe for any securities.

XLON