Gulf Investment Fund PLC Tender Offer Update - Replacement (9161L)
January 15 2021 - 11:16AM
UK Regulatory
TIDMGIF
RNS Number : 9161L
Gulf Investment Fund PLC
15 January 2021
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
REPLACEMENT
(This announcement replaces RNS Number 7611L issued 14 January
2021)
14 January 2021
Gulf Investment Fund plc (Ticker: GIF)
Tender Offer Update
The following replaces the Tender Offer Update announcement
which was released at 3.18 p.m. on 14 January 2021 under RNS number
7611L and which contained incorrect figures for the Tender Offer
Asset Value and Tender Price.
Further to the announcement on 14 December 2020, the Board of
Gulf Investment confirms that all assets in the Tender Pool have
been sold. 12 January 2021 will be the Tender Pool Determination
Date. As at that date, the Final Tender Offer Asset Value was
$60,721,266, giving a Tender Price of $1.4940.
Panmure Gordon will, as principal, on the terms and subject to
the conditions of the Tender Offer being satisfied, buy the
40,643,418 Tendered Shares at the Tender Price in the market then
sell the Tendered Shares on to the Company at the Tender Price in
line with the Repurchase Agreement, with this expected to happen on
or around 21 January 2021.
The Board is proposing to hold 5,757,536 Tendered Shares in
treasury, with the remaining 34,885,882 Tendered Shares being
cancelled.
It is expected that the proceeds payable to shareholders whose
tendered shares are held through CREST accounts will be made by 29
January 2021 and that cheques for the certificated Shares purchased
under the Tender Offer will be despatched by 29 January 2021.
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:
Nicholas Wilson +44 (0) 1624 692 600
Gulf Investment Fund plc
Ian Dungate/Suzanne Jones +44 (0) 1624 692 600
Mainstream Fund Services (IOM) Limited
Sapna Shah/Alex Collins/Atholl Tweedie +44 (0) 20 7886 2500
Panmure Gordon
William Clutterbuck +44 (0) 7785 292 617
Maitland/AMO
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END
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