REG - Gulf Investment Fund - Proposal Members' Voluntary Liquidation

Gulf Investment FundAnnouncement

04/10/2024 07:30

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RNS Number : 8865G  Gulf Investment Fund PLC  04 October 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

Legal Entity Identifier: 2138009DIENFWKC3PW84

 

4 October 2024

 

 

Gulf Investment Fund plc

(the "Company")

Publication and posting of Circular proposing the members' voluntary
liquidation of the Company

and

Timetable for suspension and cancellation of the Company's admission to
trading

 

Further to the announcement made on 9 September 2024, the Company announces
the publication of a circular (the "Circular") and notice of extraordinary
general meeting (the "EGM"), which is being posted to Shareholders for the
purpose of proposing a vote on the members' voluntary liquidation of the
Company (the "Proposals"). The reasons for and background to the Proposals are
set out in the Circular. The Circular also contains the timetable for the
suspension and cancellation of the Company's admission to trading. The
Resolution to approve the Proposals requires the approval of 75 per cent. or
more of the votes cast by Shareholders at the EGM. The Board has received
irrevocable undertakings to vote in favour of the Resolution from certain
shareholders who, in aggregate, hold 34,053,155 Shares, representing
approximately 87.5 per cent. of the Company's issued share capital.

The current timetable for the Proposals is as follows:

 

                                                                                2024

 Date from which it is advised that dealings in Shares should only be for cash  close of business on 25 October
 settlement and immediate delivery of documents of title
 Latest time and date for receipt of Forms of Proxy or electronic proxy         11.00 a.m. on 27 October
 appointments for use at the Extraordinary General Meeting
 Latest time for delivery to Registrars of documents of title relating to       5.00 p.m. on 28 October
 dealings in Shares subject to cash settlement
 Close of Register and Record Date for participation in the Members' Voluntary  6.00 p.m. on 28 October
 Liquidation
 Suspension of Shares from trading on the Specialist Fund Segment               7.30 a.m. on 29 October
 Extraordinary General Meeting                                                  11.00 a.m. on 29 October
 Appointment of Liquidator                                                      29 October
 Cancellation of the admission to trading of the Shares on the Specialist Fund  expected to be at 8.00 a.m. on 30 October
 Segment
 First cash distribution to Shareholders*                                       expected to be in early December

 

* Actual date to be determined by the Liquidator.

The above times and/or dates may be subject to change and, in the event of
such change, the revised times and/or dates will be notified to Shareholders
by an announcement through a Regulatory Information Service.

All references to times in this document are to London times.

The Circular will be available from the Company website
https://www.gulfinvestmentfundplc.com/investor-relations/ and the National
Storage Mechanism shortly.

The Company's shares will be suspended from trading at 7:30 a.m. on 29 October
2024 in advance of the EGM. Conditional on the approval of Shareholders at the
EGM, the Board proposes to appoint Nicholas Mark Halsall of
PricewaterhouseCoopers LLC as the liquidator of the Company (the
"Liquidator").

 

Immediately upon and with effect from the appointment of the Liquidator at the
EGM, the powers of the Board will cease, the Liquidator will wind up the
affairs of the Company, and the admission to trading of the Shares to trading
on the Specialist Fund Segment will be cancelled with effect from 8.00 a.m. on
30 October 2024 following which the Company's shares will no longer be
tradeable.

 

 

For further information:

Anderson
Whamond
            Via Apex Corporate Services

Gulf Investment Fund plc

Frazer Pickering/Suzanne Jones
                                                 +44
(0) 1624 630400

Apex Corporate Services (IOM) Limited

Alex Collins/Ashwin
Kohli
+44 (0) 20 3100 2000

Panmure Liberum Limited

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