REG - Gulf Investment Fund - Results of Tender Offer

Gulf Investment FundAnnouncement

06/10/2023 10:00

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RNS Number : 9815O  Gulf Investment Fund PLC  06 October 2023

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6 October 2023

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 September 2023, the
tender offer closed at 1.00 p.m. on 5 October 2023.

1,397,276 shares were tendered, equal to 3.37 per cent. of the shares in issue
as at 3 October 2023. The resulting post tender offer share capital will
therefore be 40,103,204 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 17,319,759 shares in
the company which is 43.2 per cent. of the post tender offer share capital.

Future tender offers

At the 2023 Annual General Meeting the Board intends to seek approval from
shareholders for bi-annual tender offers in 2024. These proposals will be
circulated to shareholders in due course.

Details of the tender offer process can be found in the circular sent to
shareholders dated 28 November 2022.

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

 

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