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Gabelli Value Plus+ (GVP)

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Thursday 05 September, 2019

Gabelli Value Plus+

Proposed Tender Offer and Continuation Vote

RNS Number : 2719L
Gabelli Value Plus+ Trust PLC
05 September 2019
 

5 September 2019

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EC NO. 596/2014) ("MAR")

 

GABELLI VALUE PLUS+ TRUST PLC (the "Company")

Legal Entity Identifier: 213800FZFN1SD1GNNZ11

 

Update on Proposed Tender Offer and Continuation Vote

 

On 31 July 2019, the Company announced that it was proposing to undertake a tender offer to eligible shareholders for up to approximately 14.99 per cent. of the issued ordinary shares of the Company (excluding treasury shares) (the "Proposed Tender Offer"). In addition, the Company announced that it would amend the existing continuation vote provisions and propose a continuation vote every two years, commencing from the Annual General Meeting of the Company to be held in 2020. The continuation vote to be carried out by an ordinary resolution and not subject to any pre-conditions such as the average discount.

 

The Company has been informed by a leading shareholder in the Company that it intends to requisition a General Meeting of the Company to be held in 2019, to propose a continuation vote in relation to the Company. In light of this intention, the board of directors of the Company has decided that the Company will not proceed with the Proposed Tender Offer at this stage.

 

The Company will provide further details on any shareholder requisition once it has been received.

 

For further information please contact:

 

Maitland Administration Services Limited

Email: [email protected]

Phone: +44 (0) 1245 398984

 

Peel Hunt LLP

Luke Simpson / Liz Yong, Corporate Broking

Telephone: +44 20 7418 8900

 


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