The board of Gabelli Value Plus+ Trust said it received a letter on 2 October from the general counsel to majority shareholder Associated Capital Group (ACG) "indicating that (unspecified) litigation concerning the company [Gabelli Value Plus+] may be a distinct possibility".
In an update today (6 October) the board said it has initiated a further period of shareholder consultation which it said was "regrettably, partly in response" to the letter. The board stated that it still backs members' voluntary liquidation of Gabelli Value Plus+, in the belief that "it would be in the best interests of the company and its shareholders as a whole". It said that the "resounding feedback from an absolute majority of all shareholders is that they want a liquidation of the company and return of their (and their underlying investors') capital as soon as practicable". ...
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