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