Gabelli Dividend & Income Trust Shareholders Approve Spin-off of The Gabelli Global Small and Mid Cap Value Trust
April 15 2014 - 11:55AM
Business Wire
The Gabelli Dividend & Income Trust (NYSE:GDV) (“Dividend
& Income Trust”) announces that the shareholders at its Special
Meeting today, April 15, 2014, approved the contribution of
approximately $100 million of the Dividend & Income Trust’s
assets to The Gabelli Global Small and Mid Cap Value Trust (“Global
Trust”), a newly organized, diversified, closed-end management
investment company.
The Global Trust will seek long-term growth of capital by
investing at least 80% of its total assets, under normal market
conditions, in equity securities (such as common stock and
preferred stock) of companies with small or medium-sized market
capitalizations and at least 40% of its total assets in the equity
securities of companies located outside the United States and in at
least three countries.
The Global Trust will seek to have its shares listed on the New
York Stock Exchange. The record date and date of distribution will
be announced at a later date. This notice does not constitute an
offer of any securities for sale.
The Global Trust transaction represents the first spin-off of a
closed-end investment company by the Dividend & Income Trust
and the fourth spin-off of a closed-end investment company by a
Gabelli fund.
We thank all our shareholders as well as the full service
brokers and financial advisers who assisted our shareholders in
obtaining the vote.
Investors should carefully consider the investment objectives,
risks, charges, and expenses of the Fund before investing. More
information regarding this and other information about the Fund is
available by calling 800-GABELLI (800-422-3554) or visiting
www.gabelli.com.
The Gabelli Dividend & Income Trust is a diversified,
closed-end management investment company with $2.4 billion in total
net assets whose primary investment objective is to provide a high
level of total return with an emphasis on dividends and income. The
Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO
Investors, Inc. (NYSE:GBL).
For The Gabelli Dividend & Income TrustCarter AustinLaurissa
Martire(914) 921-5070
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