15th Sep 2022 18:09
Gulf Investment Fund PLC - invests in companies in Gulf Cooperation Council countries - Launches tender offer for up to 100% of each shareholder's stake in the company, the price of which will depend on the price at which assets comprising the tender pool are fully realised.
Price also depends on the apportionment of costs associated with the offer, which is expected to come up to USD100,000 across the tendered shares.
Assets and liabilities will be valued at 1730 BST on September 30, and allocated between two pools: the Continuing pool and the Tender pool. Assets in the Tender Pool are to be realised as soon as possible, and the proceeds used to repurchase the tendered shares.
Also on Thursday, Chair Anderson Whamond purchases 50,000 shares at a price of USD2.14 each, totalling USD107,000 on Wednesday.
Current stock price: USD2.15
12-month change: up 24%
By Dayo Laniyan; [email protected]
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