Gulf Investment (LSE:GIF)
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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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January 15, 2021 11:16 ET (16:16 GMT)