In QuotedData’s other news 24 October 2019
- Gabelli Merger Plus reported a return of 3.7% on NAV but, after discount widening, a return to shareholders of -6.5% for the year ended 30 June 2019. The best index comparisons are probably the S&P Merger Arbitrage Index which returned 8.33%, and the CS Merger Arbitrage Liquid Index, up 4.54%. The board is making some proposals on its remuneration that are referred to in this morning’s statement but contained within the Annual Report which we can’t find published yet – we’ll try to look out for these.
- Blackstone/GSO will merge its ordinary and C share pools with effect from 31 October 2019 – the conversion ratio will be announced sometime after 31/10.
- Trading in Tau Capital’s shares on AIM was cancelled today. The trust was set up to invest in Kazakhstan but it never really worked. It became a cash shell but didn’t do anything with that before time ran out – the exchange gives cash shells six months to complete a reverse takeover.