Update: ACG maintains Gabelli Value Plus+ liquidation would be 'short-sighted'

ACG to abstain from voting

Associated Capital Group has claimed a vote to liquidate the Gabelli Value Plus+ Trust (GVP) would be “short-sighted”, as it confirmed it would abstain from voting on whether the trust should be discontinued and, ultimately, liquidated.

The GVP board announced on Monday (8 February) morning it would convene a general meeting in July, followed by a special resolution, to place the vehicle into members' voluntary liquidation. The board said ACG, the trust's largest shareholder - which owns a 27.4% stake - would abstain on voting on these resolutions, having blocked liquidation for several months. ACG tells 'emotional' GVP shareholders to 'get a grip' as it seeks two-year stay of execution In July last year, two-thirds of GVP shareholders voted against continuation of the trust, but ACG used its large position to blo...