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Gulf Investment Fund PLC - invests in companies in Gulf Cooperation Council countries - To seek shareholder approval for 2023 tender offers, to take place in March and September. Says minimum size of tender offer will entail a post-tender offer share capital of no less than 38.0 million shares.
‘If the March 2023 tender offer fails to proceed because the 2023 minimum size condition could not be met, then the September 2023 tender offer will not proceed either, since the directors will instead put forward proposals to shareholders for the company to be wound up with a view to returning cash to shareholders or to enter into formal liquidation,’ Gulf Investment says.
Will seek tender offer approval at December 22 annual general meeting.
Current stock price: $2.14
12-month change: up 20%
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