Gulf Investment Fund plc (LSE:GIF) commences share repurchases on December 22, 2023, under the program mandated by the shareholders in the Annual General Meeting held on December 22, 2023. As per the mandate, the company is authorized to repurchase up to 40,103,204 shares, representing for up to 100% of share capital. The purpose of program is to provide liquidity to shareholders.

On March 21, 2024, the company initiated a Tender Offer. Under the offer, the company will repurchase up to 100% of it's share capital. The Company's assets and liabilities will be valued on April 12, 2024. The Tender Price will be determined once the Company's assets have been allocated between the Continuing Pool and the Tender Pool, the assets contained in the Tender Pool have been fully realised and all the liabilities to be borne by the Tender Pool have been accounted for.The company has set March 26, 2024, as the the record date of the offer. Any Tendered Shares tendered will be cancelled. The offer will close on April 11, 2024.

On April 11, 2024, the company concluded the Tender Offer. Under the offer, the company repurchased 1,157,160 shares for £0.03 million.