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
Legal Entity Identifier:
2138009DIENFWKC3PW84
4 October 2024
Gulf Investment Fund
plc
(the
"Company")
Publication and posting of
Circular proposing the members' voluntary liquidation of the
Company
and
Timetable for suspension and
cancellation of the Company's admission to
trading
Further to the announcement made on
9 September 2024, the Company announces the publication of a
circular (the "Circular") and notice of extraordinary general
meeting (the "EGM"), which is being posted to Shareholders for the
purpose of proposing a vote on the members' voluntary liquidation
of the Company (the "Proposals"). The reasons for and background to
the Proposals are set out in the Circular. The Circular also
contains the timetable for the suspension and cancellation of the
Company's admission to trading. The Resolution to approve the
Proposals requires the approval of 75 per cent. or more of the
votes cast by Shareholders at the EGM. The Board has received
irrevocable undertakings to vote in favour of the Resolution from
certain shareholders who, in aggregate, hold 34,053,155 Shares,
representing approximately 87.5 per cent. of the Company's issued
share capital.
The current timetable for the
Proposals is as follows:
|
|
2024
|
|
|
|
|
Date from which it is advised that
dealings in Shares should only be for cash settlement and immediate
delivery of documents of title
|
close of
business on 25 October
|
|
Latest time and date for receipt of
Forms of Proxy or electronic proxy appointments for use at the
Extraordinary General Meeting
|
11.00 a.m.
on 27 October
|
|
Latest time for delivery to
Registrars of documents of title relating to dealings in Shares
subject to cash settlement
|
5.00 p.m.
on 28 October
|
|
Close of Register and Record Date
for participation in the Members' Voluntary Liquidation
|
6.00 p.m.
on 28 October
|
|
Suspension of Shares from trading on
the Specialist Fund Segment
|
7.30 a.m.
on 29 October
|
|
Extraordinary General
Meeting
|
11.00 a.m.
on 29 October
|
|
Appointment of Liquidator
|
29
October
|
|
Cancellation of the admission to
trading of the Shares on the Specialist Fund Segment
|
expected
to be at 8.00 a.m. on 30 October
|
|
First cash distribution to
Shareholders*
|
expected
to be in early December
|
* Actual date to be determined by the
Liquidator.
The above times and/or dates may be
subject to change and, in the event of such change, the revised
times and/or dates will be notified to Shareholders by an
announcement through a Regulatory Information Service.
All references to times in this
document are to London times.
The Circular will be available from
the Company website
https://www.gulfinvestmentfundplc.com/investor-relations/ and the
National Storage Mechanism shortly.
The Company's shares will be
suspended from trading at 7:30 a.m. on 29
October 2024 in advance of the EGM. Conditional on
the approval of Shareholders at the EGM, the Board proposes to
appoint Nicholas Mark Halsall of PricewaterhouseCoopers LLC
as the liquidator of the Company (the
"Liquidator").
Immediately upon and with effect
from the appointment of the Liquidator at the EGM, the powers of
the Board will cease, the Liquidator will
wind up the affairs of the Company, and the admission to trading of
the Shares to trading on the Specialist Fund Segment will be
cancelled with effect from 8.00 a.m. on 30 October 2024 following
which the Company's shares will no longer be tradeable.
For further information:
Anderson
Whamond
Via
Apex Corporate Services
Gulf Investment Fund plc
Frazer Pickering/Suzanne Jones
+44 (0) 1624 630400
Apex Corporate Services (IOM)
Limited
Alex Collins/Ashwin
Kohli
+44 (0) 20 3100 2000
Panmure Liberum Limited