Gabelli Value Plus+ Trust (GVP) announced on 31 July 2019, that it was proposing to undertake a tender offer for up to approximately 14.99 per cent. of its issued share capital. It also announced that it would amend the existing continuation vote provisions and propose a continuation vote every two years, commencing from the 2020 AGM. However, GVP now says that it has been informed by a leading shareholder that it intends to requisition a General Meeting, to be held in 2019. The purpose of the general meeting will be to propose a continuation vote in GVP. In light of this, GVP’s board has decided that it will not proceed with the Proposed Tender Offer at this stage. The board says that it will provide further details on any shareholder requisition once these have been received.
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