Gulf Investment Fund PLC AGM Statement (6576G)

TIDMGIF

RNS Number : 6576G

Gulf Investment Fund PLC

07 November 2018

Legal Entity Identifier: 2138009DIENFWKC3PW84

7 November 2018

Gulf Investment Fund plc

(the "Company")

2018 Annual General Meeting Results

The Board of Gulf Investment Fund plc (GIF.L) announces that at the Annual General Meeting ("AGM") held today at 11.00 a.m., all resolutions were duly passed on a poll. The results are shown below.

ORDINARY BUSINESS

Resolution 1

The Report of the Investment Manager and Investment Adviser, Report of the Directors, Directors' Remuneration Report, Auditors' Report and the Audited Consolidated Financial Statements of the Company for the year ended 30 June 2018 be approved with 65,243,568 votes cast in favour, no votes cast against and no abstentions.

Resolution 2

The final dividend of USD 3.0 cents per ordinary share for the year ended 30 June 2018 was approved with 65,243,568 votes cast in favour, no votes cast against and no abstentions.

Resolution 3

KPMG Audit LLC Isle of Man was re-appointed as auditors of the Company for the year ending 30 June 2019 with 65,235,326 votes cast in favour, no votes cast against and 8,242 abstentions.

SPECIAL BUSINESS

Resolution 8

That the Company generally and unconditionally be authorised to make market purchases of ordinary shares of US$0.01 each provided that: (a) the maximum aggregate number of ordinary shares that may be purchased is 13,859,940 (being the equivalent of 14.99% of the Company's issued share capital as at 21 September 2018); (b) the minimum price (excluding expenses) which may be paid for each ordinary share is US$0.01 being the nominal value per ordinary share; (c) the maximum price (excluding expenses) which may be paid for each ordinary share is the higher of: (i) 105 per cent of the average market value of an ordinary share in the Company for the five business days prior to the day the purchase is made; and (ii) the value of an ordinary share calculated on the basis of the higher of the price quoted for (I) the last independent trade of and (II) the highest current independent bid for, any number of the Company's ordinary shares on the trading venue where the purchase is carried out; and (d) the authority conferred by this resolution shall expire on 6 November 2019 or, if earlier, at the conclusion of the Company's next annual general meeting save that the Company may, before the expiry of the authority granted by this resolution, enter into a contract to purchase ordinary shares which will or may be executed wholly or partly after the expiry of such authority. All Shares purchased pursuant to the above authority shall be either: (i) held, sold, transferred or otherwise dealt with as treasury shares; or (ii) cancelled immediately upon completion of the purchase, with 65,243,568 votes cast in favour, no votes cast against and no abstentions.

Resolution 9

That the rights of holders of equity securities in the Company to receive a pre-emptive offer of equity securities pursuant to Article 5A.2 of the Company Articles of Association shall be and is hereby excluded in respect of 9,246,124 Ordinary shares, this exclusion to expire immediately prior to the annual general meeting of the Company to be held in 2019, was approved with 64,703,568 votes cast in favour, 540,000 votes cast against and no abstentions.

A copy of resolutions 8 and 9 will be submitted to the National Storage Mechanism and will be available for inspection at: http://www.morningstar.co.uk/uk/NSM

The total number of votes cast was 65,243,568 which represents 70.56% of the Company's total voting rights.

For further information:

Gulf Investment Fund Plc [phone]

Nick Wilson

Panmure Gordon [phone]

Andrew Potts

Maitland [phone]

William Clutterbuck / Finlay Donaldson

Galileo Fund Services Limited [phone]

Ian Dungate

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November 07, 2018 07:26 ET (12:26 GMT)