Gulf Investment Fund - Results of Tender Offer
30/09/2022 15:30
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220930:nRSd4076Ba&default-theme=true RNS Number : 4076B Gulf Investment Fund PLC 30 September 2022 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 30 September 2022 Gulf Investment Fund plc (Ticker: GIF) Results of Tender Offer Minimum Size Condition passed Further to the Tender Offer announcement on 15 September 2022 (the "Announcement"), the Tender Offer closed at 1.00 p.m. on 29 September 2022. 178,064 shares were validly tendered, equal to 0.43 per cent. of the shares in issue as at 20 September 2022. The Board of Gulf Investment Fund plc (the "Company") is pleased that the resulting post Tender Offer share capital will therefore be 40,927,152 Shares, which is significantly in excess of the Minimum Size Condition (set out in the circular to shareholders dated 3 December 2021 (the "Circular") and re-confirmed in the Announcement). In line with the terms of the Tender Offer the Directors will allocate the assets and liabilities of the Company between the Continuing Pool and the Tender Pool on the Calculation Date. Following the allocation of assets and liabilities to the Continuing Pool and the Tender Pool, the Board will instruct the Investment Adviser to sell the assets in the Tender Pool, as required. The Company will continue to prepare and publish NAV announcements for the Continuing Pool only. In accordance with the terms of the Tender Offer, the Directors will select a date upon which the Final Tender Offer Asset Value of the Tender Pool will be calculated (the "Tender Pool Determination Date"). The Final Tender Offer Asset Value will equal the unaudited Net Asset Value of the assets in the Tender Pool on the Tender Pool Determination Date. The Tender Price will be an amount equal to the Final Tender Offer Asset Value divided by the total number of Tendered Shares (rounded down to four decimal places) in each case on the Tender Pool Determination Date. A further announcement will be made in due course. Completion of the Tender Offer remains subject to certain conditions set out in paragraph 2 of the terms and conditions of the Tender Offer which is contained in the Announcement. Subject to completion of the Tender Offer, the Investment Adviser will continue to hold 17,319,759 Shares in the Company representing approximately 42.3 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, the Company intends to seek the requisite authorities required from its Shareholders to undertake the Contractual Bi-Annual Tender Offers in 2023 at the time of the 2022 Annual General Meeting. Details of these proposals will be circulated to Shareholders in due course. 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 Ian Dungate/Suzanne Jones +44 (0) 1624 630400 Apex Corporate Services (IOM) Limited Sapna Shah/Alex Collins/Atholl Tweedie +44 (0) 20 7886 2500 Panmure Gordon William Clutterbuck +44 (0) 20 7379 5151 Maitland/AMO 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 TENSDSFLSEESEFU