Moneyextra Sharedealing



30 November 2009

NAYA BHARAT PROPERTY COMPANY PLC (the "Company")

SHARE BUYBACK AND NAV REPORTING

The Board of Naya Bharat Property Company plc ("Naya Bharat") notes the discount to Net Asset Value ("NAV") per share at which the Company's ordinary shares ("Shares") currently trade and have traded for a number of months.

The Board considers this level of discount (the closing price was $0.39 on 27 November 2009 as compared to the NAV per Share as at 31 October 2009 of $0.55) to be anomalous given the relative level of liquidity of the Company's investment portfolio.

Share Buyback

The Directors believe that the most effective means of minimising any discount to NAV which may arise on the Company's share price, is to deliver strong, consistent, long term performance from the Company's investment portfolio in both absolute and relative terms. In order to facilitate this, the Board, on the advice of the Investment Manager (the "Manager"), is seeking approval to expand the Company's Investing Policy to permit investment in a broader range of property-related investments.  However, the Board recognises that wider market conditions and other considerations may continue to affect the rating of the Shares in the short term and the Board will seek to limit the level and volatility of any discount to NAV at which the shares may trade.

Consequently, subject to the provisions of the Isle of Man Companies Acts 1931 - 2004 (the "Acts"), the AIM Rules for Companies, the Articles and the terms of the authorisation granted to the Directors at last the Annual General Meeting of the Company, where the Company's shares are trading at a  discount to the NAV per share of greater that 15 per cent as determined by the Manager for a period of twenty consecutive Business Days, the Company (or a nominee appointed by the Company) will endeavour to make purchases of Shares either in the open market or by tender in such amount as determined by the Directors in their absolute discretion up to an aggregate maximum amount of 14.99 per cent. of the Company's issued Share capital in any twelve month period. Any Ordinary Shares purchased by the Company will be cancelled in accordance with the provisions of the Acts.

Net Asset Value Reporting

In addition to the intention to make market purchases outlined above, the Board believes that providing more frequent information will have a positive impact on the discount to NAV and has therefore decided to increase the frequency by which it reports the prevailing unaudited NAV per share of the Company. Commencing with the NAV on Friday 11 December 2009, the closing NAV each Friday will be announced as soon as possible the following week.  

The Board will monitor the effectiveness of its discount control policy and intends to review the position with regard to the discount on an ongoing basis in order to consider whether any further action is necessary.

Enquiries

www.nayabharat.org

Disclaimer

This document does not constitute an offer to sell or solicitation of an offer to buy shares in the Company and subscriptions for shares in the Company may only be made on the terms and subject to the conditions (and risk factors) contained in the prospectus of the Company. Potential investors should carefully read the prospectus issued by the Company which contains significant additional information needed to evaluate an investment in the Company.  This document has not been approved by a competent supervisory authority and no supervisory authority has consented to the issue of this document. The information in this document is confidential and it should not be distributed or passed on, directly or indirectly, by the recipient to any other person without the prior written consent of Charlemagne Capital (UK) Limited. This document and shares in the Company shall not be distributed, offered or sold in any jurisdiction in which such distribution, offer or sale would be unlawful and until the requirements of such jurisdiction have been satisfied. This document is not intended for public use or distribution. The purchase of shares in the Company constitutes a high risk investment and investors may lose a substantial portion or even all of the money they invest in the Company. An investment in the Company is, therefore, suitable only for financially sophisticated investors who are capable of evaluating the risks and merits of such investment and who have sufficient resources to bear any loss that might result from such investment. If you are in any doubt about the contents of this document you should consult an independent financial adviser. Investors in the Company should note that: past performance should not be seen as an indication of future performance; investments denominated in foreign currencies result in the risk of loss from currency movements as well as movements in the value, price or income derived from the investments themselves; and there are additional risks associated with investments (made directly or through investment vehicles which invest) in emerging or developing markets. Charlemagne Capital (UK) Limited does not guarantee the accuracy, adequacy or completeness of any information contained herein and is not responsible for any omissions or for the results obtained from such information. The information is indicative only and is for background purposes and is subject to material updating, revision, amendment and verification. All quoted returns are illustrative. No representation or warranty, express or implied, is made as to the matters stated in this document and no liability whatsoever is accepted by Charlemagne Capital (UK) Limited or any other person in relation thereto.