Gabelli Value Plus+ Trust PLC - investment firm - Associated Capital Group Inc, the largest shareholder in Gabelli Value Plus, confirms intent to abstain from continuation and liquidation vote to be held in July.
Still believes that the trust's board should buy shares at an appropriate discount, and reduce the management fee to 50 basis points, instead of liquidating the trust itself.
"Associated Capital Group maintains its view that to have liquidated GVP as part of the July 30, 2020 AGM, just as GVP’s holdings were regaining their footing, was shortsighted and AC's vote not to liquidate in July was beneficial to all long term investors," the shareholder stated.
Current stock price: 152.00 pence, up 4.7%
Year-to-date change: up 6.3%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.