Gabelli Merger Plus+ Trust plc Announces Tender Offer of Shares

Rhea-AI Summary

The Board of Directors of Gabelli Merger Plus+ Trust plc has announced upcoming tender offers for shareholders. The offers will be available in June 2022 and January 2023, and January 2024, targeting those in the Loyalty Register. Additionally, the Board is exploring options for increasing investments by up to 10% on a non-dilutive basis. Managing Director Evan Miller highlighted the current capital market conditions and expressed optimism about generating absolute returns amid a robust environment for mergers and acquisitions.

Positive

• Upcoming tender offers planned for June 2022, January 2023, and January 2024.
• Board exploring options for non-dilutive capital increase by up to 10%.
• Optimistic outlook on mergers and acquisitions, providing potential for absolute returns.

Negative

• None.

LONDON--(BUSINESS WIRE)-- The Board of Directors of Gabelli Merger Plus+ Trust plc (LSE: GMP) (the “Company” or “GMP”) recently published an RNS announcement regarding the Company’s upcoming Tender Offers as follows:

• June 2022 Tender Offer to Shareholders in the Loyalty Register as of 27 May 2022
• January 2023 Tender Offer to all 5 year shareholders in the Loyalty Register
• January 2024 Tender Offer to all 5 year shareholders in the Loyalty Register

https://www.londonstockexchange.com/news-article/GMP/fifth-anniversary-tender-offer/15381252

The Company indicated its intention to arrange tender offers, in January 2023 and January 2024, to Registered Shareholders meeting certain eligibility requirements.

Additionally, the Board of Directors is exploring options for investors to increase their investment by up to 10% of the total share capital on a non-dilutive basis, with over-allotment options.

Evan Miller, CFA, managing director of Gabelli Asset Management UK Ltd., said “This is an unprecedented time in capital markets with rising rates and structural dislocation, and especially in light of current geopolitical events, investors should be given multiple options to earn non-market correlated returns. As noted in the Company’s interim report dated 31 December 2021, the environment for mergers and acquisitions remains robust, and we are upbeat about the Company’s prospect to generate absolute returns.”

View source version on businesswire.com: https://www.businesswire.com/news/home/20220331005597/en/

Gabelli Funds, LLC

John Ball

+1 914 921 7728

GMPTeam@gabelli.com

Source: Gabelli Merger Plus+ Trust plc

FAQ

What are the upcoming tender offers for Gabelli Merger Plus+ Trust (GBL)?

Tender offers are scheduled for June 2022, January 2023, and January 2024 for shareholders in the Loyalty Register.

How will the tender offers affect shareholders of Gabelli Merger Plus+ Trust (GBL)?

The tender offers will provide liquidity options for eligible shareholders.

What does the non-dilutive investment increase mean for Gabelli Merger Plus+ Trust (GBL)?

It means investors can increase their holdings without diluting existing shares, enhancing shareholder value.

What is the outlook for Gabelli Merger Plus+ Trust (GBL) regarding mergers and acquisitions?

The company maintains a positive outlook on mergers and acquisitions, indicating strong potential for returns.