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Result of Tender Offer
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

 

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