Gulf Regulatory News (GIF)

Legal Entity Identifier: 2138009DIENFWKC3PW84

9 March 2021

Gulf Investment Fund plc (Ticker GIF)

Shares in Public Hands

The Board of the Company announces that, following completion of the Tender Offer in January, the number of ordinary shares which are deemed by the FCA Listing Rules (the "Listing Rules") to be held in public hands is below the minimum 25% threshold. The Listing Rules provide that shares are not considered to be held in public hands if they are held by persons (or persons in the same group or persons acting in concert) who have an interest in 5% or more of a listed company's share capital, as well as shares held by directors of a listed company.

The Company's shares in public hands is currently estimated to be approximately 12%. Following the Company making a request to the FCA, the FCA has agreed to modify temporarily the relevant Listing Rule to permit this decreased level of shares in public hands for a period of 6 months.

The Company has already started to explore options to move its listing to the Specialist Fund Segment. A further update will be published in due course.

During this time the Company will continue to monitor its share register and keep the FCA informed of any relevant developments.

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