Gulf Investment Fund PLC Results of Extraordinary General Meeting (9069V)
April 19 2021 - 7:02AM
UK Regulatory
TIDMGIF
RNS Number : 9069V
Gulf Investment Fund PLC
19 April 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
19 April 2021
Gulf Investment Fund plc (Ticker: GIF)
Results of Extraordinary General Meeting
The Board of Gulf Investment Fund plc (the "Company") announces
that at the Extraordinary General Meeting ("EGM") held today at
11.00 a.m., (1) the resolution to approve the waiver of Rule 9 of
the City Code on Takeovers and Mergers in connection with
implementation of the Initial Tender Offer (the "Whitewash
Resolution") was passed as an ordinary resolution by Shareholders
independent of the Investment Adviser; (2) the resolution to
authorise the Company to make market purchases of Ordinary Shares
pursuant to the Initial Tender Offer (the "Initial Tender Offer
Resolution") was passed as an ordinary resolution; (3) the
resolution to approve the cancellation of listing of the Company's
Shares on the premium segment of the official list of the UK
Financial Conduct Authority and their admission to trading on the
London Stock Exchange's main market for listed securities and
application be made for admission of such ordinary shares to the
Specialist Fund Segment of the main market for listed securities of
the London Stock Exchange was passed by way of a poll as a special
resolution by Shareholders independent of the Investment Adviser
(the "Proposed Cancellation and Transfer Resolution"); and (4) the
resolution to approve the New Articles was passed as a special
resolution (the "New Articles Resolution", together, the
"Resolutions"). The results of the poll on the Resolutions are set
out below.
Total votes cast
% of issued
share capital
Votes represented
For/ discretionary Against withheld by the votes
Resolution (number/%)* (number/%)* (number) Number cast
1. Whitewash
Resolution** 30,095,079 4,460 - 30,099,559 58%
(99.99%) (0.01%)
2. Initial Tender
Offer Resolution 46,642,446 4,460 - 46,646,926 90%
(99.99%) (0.01%)
3. Proposed Cancellation
and Transfer
Resolution** 30,095,079 4,460 - 30,099,559 58%
(99.99%) (0.01%)
4. New Articles
Resolution 46,642,446 4,460 - 46,646,926 90%
(99.99%) (0.01%)
* Percentages are expressed as a proportion of the total votes
cast.
** The Investment Adviser did not vote on this resolution.
The Company will now apply to cancel the listing of its ordinary
shares on the Premium Segment of the Official List and to trading
on the premium segment of the Main Market and will seek admission
of its ordinary shares to trading on the Specialist Fund Segment of
the London Stock Exchange.
It is expected that the last day of dealings in the Shares on
the premium segment of the official list of the UK Financial
Conduct Authority and their admission to trading on the London
Stock Exchange's main market for listed securities will be 18 May
2021 and the Proposed Transfer and Cancellation will take effect at
8.00 a.m. on 19 May 2021, being not less than 20 Business Days from
the passing of the Proposed Cancellation and Transfer Resolution.
Accordingly, admission of the Shares to trading on the Specialist
Fund Segment is expected to take place, and dealings in Shares are
expected to commence on the Specialist Fund Segment, at 8.00 a.m.
on 19 May 2021.
The Tender Offer Announcement in respect of the Initial Tender
Offer is expected to be released in September 2021 and further
details of the Initial Tender Offer are set out in the
Circular.
For the purposes of this announcement, unless otherwise defined,
capitalised words and phrases shall have the meaning given to them
in the circular to shareholders dated 25 March 2021 (the
"Circular").
A copy of the results will be submitted to the National Storage
Mechanism and will be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
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 692600
Mainstream Fund Services (IOM) Limited
Sapna Shah/Alex Collins/Atholl Tweedie
+44 (0) 20 7886 2500
Panmure Gordon
William Clutterbuck +44 (0) 20 7379 5151
Maitland
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END
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