REG - Gulf Investment Fund - Result of Tender Offer

Gulf Investment FundAnnouncement

12/04/2024 07:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240412:nRSL3341Ka&default-theme=true

RNS Number : 3341K  Gulf Investment Fund PLC  12 April 2024

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO, CANADA, JAPAN, NEW ZEALAND AND THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MAY RESULT IN THE
CONTRAVENTION OF ANY REGISTRATION OR OTHER LEGAL REQUIREMENT OF SUCH
JURISDICTION

12 April 2024

Gulf Investment Fund plc (Ticker: GIF)

Results of Tender Offer

Minimum size condition passed

Further to the details set out in the announcement on 21 March 2024, the
tender offer closed at 1.00 p.m. on 11 April 2024.

1,157,160 shares were tendered, equal to 2.89 per cent. of the shares in issue
as at 9 April 2024. The resulting post tender offer share capital will
therefore be 38,946,044 shares, above the minimum size condition of 38,000,000
shares.

The Board will now, at its discretion, either (1) match buyers with shares
tendered or (2) allocate the assets and liabilities of the company between the
continuing pool and the tender pool on the calculation date. Following this
the Investment Adviser will sell the assets in the tender pool, as required.
The company will continue to publish NAV announcements for the continuing pool
only.

A further announcement will be made in due course.

Completion of the tender offer remains subject to conditions set out in
paragraph 2 of the terms and conditions of the tender offer. Subject to
completion, the Investment Adviser will continue to hold 17,319,758 shares in
the company which is 44.5 per cent. of the post tender offer share capital.

Future tender offers

In light of the ongoing Shareholder support for the Company and consistent
with the proposals set out in the Circular and approved by Shareholders at the
Annual General Meeting on 22 December 2023, the Company intends to implement
the second 2024 Tender Offer in September 2024.

Details of the tender offer process can be found in the Circular sent to
shareholders dated 28 November 2023.

For the purposes of this announcement, unless otherwise defined, capitalised
words and phrases shall have the meaning given to them in the Circular.

Legal Entity Identifier: 2138009DIENFWKC3PW84

 

For further information:

Anderson
Whamond
Via Apex Corporate Services

Gulf Investment Fund plc

Suzanne Jones
 
                         +44 (0) 1624 630400

Apex Corporate Services (IOM) Limited

Alex Collins/Atholl
Tweedie
+44 (0) 20 7886 2500

Panmure Gordon

William Clutterbuck
 
                      +44 (0) 7785 292 617

H/Advisors Maitland

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RTEQKDBBPBKDBQD