Gabelli Value Plus+ Trust PLC - investment firm - Intends to publish circular convening general meeting to propose placing the company into members' voluntary liquidation. As the proposal needs to be posed as a special resolution, it requires 75% of votes cast to be in favour in order to pass.
"The board repeats its previous requests that Associated Capital Group take full account of the wishes of the clear majority of shareholders, since a members' voluntary liquidation represents the most effective means of effecting discontinuation for shareholders as a whole," says Gabelli Value.
If the resolution is not passed, the company will put forward a further resolution to seek shareholder authority to implement a substantial capital return via tender offer.
Current stock price: 146.00 pence
Year-to-date change: up 2.1%
By Lucy Heming;Â lucyheming@alliancenews.com
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