Statement re Subsequent Tender Offers

RNS Number : 4302P

Qatar Investment Fund PLC

24 October 2012

 



24 October 2012

Qatar Investment Fund PLC ("QIF" or the "Company")

Statement re subsequent tender offers

As stated in the 17 October 2012 announcement regarding the forthcoming tender offer, the Directors have decided to implement further tender offers in the fourth quarters of 2013 and 2014, on similar terms to the tender offer as announced on 17 October 2012, for up to 10 per cent. of the Company's issued Share capital at those times (excluding treasury shares) in the event that the average discount to NAV per Share at which the shares trade in the twelve month period from the Calculation Date to 29 November 2013 and for the subsequent twelve month period to 29 November   2014 has been greater than 10 per cent. ("Subsequent Tender Offers").

Following representations from one of the Company's largest shareholders after the release of the Company's announcement on 17 October 2012, the Board is pleased to confirm that if either of the Subsequent Tender Offers is required, the Board has resolved to provide shareholders the opportunity to vote on whether to include an over-application facility to allow qualifying shareholders to tender more than their basic entitlement, but any such excess tenders will only be satisfied, on a pro rata basis, to the extent that other qualifying shareholders tender less than their basic entitlement or do not tender any shares. For the avoidance of doubt, there is no over-application facility in respect of the forthcoming tender offer.

For further information:

Qatar Investment Fund Plc [phone]

David von Simson

Panmure Gordon [phone]

Richard Gray/Andrew Potts

Oriel Securities [phone]

Joe Winkley/Neil Winward        

Maitland [phone]

William Clutterbuck/Robbie Hynes

Galileo Fund Services Limited [phone]

Ian Dungate/Suzanne Jones

 

END

 

 

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