Prediction Regarding 11th Delay, page-10

Completion of the finance facility continues to be frustrated by the coronavirus pandemic,
with the resultant adverse impacts on all aspects of business, particularly in the UK and USA
from where the funds are expected. In addition, as previously reported, UK’s withdrawal
from the EU Community has added further complications and delays to the finalisation of
the loan facility. Accordingly, Gulf requests the voluntary suspension of its securities remains
in place until 30 June 2020.

Gulf has been advised that the anticipated closing date for the transaction will now be by
the end of June 2020.