Shares in public hands

RNS Number : 0788O

Qatar Investment Fund PLC

22 May 2015

 



22 May 2015

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

Announcement regarding Listing Rule 6.1.19R

Under Listing Rule 6.1.19R, shares 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 (and shares held by directors of subsidiary undertakings of a listed company) are not regarded as being held in public hands (the "free float"). 

Following the recent announcements of shareholding by Lazard Asset Management and other purchases by another shareholder, the Directors believe that the number of the Company's shares distributed to the public is approximately 21.95%, and therefore below the 25% threshold set out in Listing Rule 6.1.19R. 

Under Listing Rule 5.2.2G, the Financial Conduct Authority ("FCA") may cancel the listing of securities where it appears to the FCA that the issuer no longer satisfies its continuing obligations for listing, for example if the percentage of shares in public hands falls below 25% or such lower percentage as the FCA may permit (the FCA may however allow a reasonable time to restore the percentage, unless this is precluded by the need to maintain the smooth operation of the market or to protect investors).

The board of the Company, in conjunction with its financial adviser and broker, Panmure Gordon (UK) Limited, is currently considering all possible and appropriate options for redressing the Company's current free float position. The Company intends to keep the FCA and its shareholders regularly appraised of the issue. In accordance with Listing Rule 9.2.15, the Company has informed the UK Listing Authority of this matter.  In the event that the Company is unable to rectify the breach of the free float requirement and therefore no longer satisfies its continuing obligations for listing, the FCA may cancel the listing of the Company's shares on the premium segment of the Official List and the admission to trading of the Company's shares on the London Stock Exchange. A further update will be provided in due course.

For further information:

Qatar Investment Fund plc	[phone]
Nicholas Wilson
Panmure Gordon	[phone]
Richard Gray / Andrew Potts / Atholl Tweedie
Maitland	[phone]
William Clutterbuck /Robbie Hynes
Galileo Fund Services Limited	[phone]
Ian Dungate

 

END

 

 

MSCPGUUPAUPAGPP