GABELLI MERGER PLUS+ TRUST PLC

Transaction in Own Shares • Apr 6, 2020

National Storage Mechanism | Additional information

RNS Number : 8035I

Gabelli Merger Plus+ Trust PLC

06 April 2020

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6 April 2020

Gabelli Merger Plus+ Trust Plc

(the "Company")

Share Buy-Back Programme

At the Company's last annual general meeting on 4 December 2019 (the "2019 AGM"), the Company's shareholders granted the Company a general buy-back authority of up to 14.99% of the Company's issued share capital.

The Board of Directors today announces its intention to commence a programme for the purchase of its own ordinary shares into treasury (the "Buy Back Programme").

The Company has appointed its corporate broker Cantor Fitzgerald Europe ("Cantor") to manage the Buy Back Programme. Cantor has an irrevocable instruction from the Board of Directors to execute the Buy Back Programme and will be able to do so at its own discretion within certain pre-set parameters. 

The aggregate purchase price of all shares acquired under the Programme will be no greater than USD 200,000. The maximum number of shares that may be purchased under the Programme will be 20,000 ordinary shares. The Buy Back Programme will run from today up to 30 June 2020 or earlier if the maximum number of ordinary shares are bought back.

As per resolution 12 passed at the 2019 AGM, the maximum price which can be paid for each ordinary share is the higher of (i) 5% above the average market value of the ordinary shares for the five business days immediately preceding the date on which the purchase is made and (ii) the higher of the price quoted for (a) the last independent trade of, and (b) the highest current independent bid for, any number of ordinary shares on the trading venue (the London Stock Exchange) where the purchase is carried out.

Due to the generally low average daily trading volume, a repurchase of ordinary shares pursuant to the Buy Back Programme on any trading day may represent a significant proportion of the daily trading volume in the ordinary shares on the London Stock Exchange plc, and could exceed the 25 per cent. limit of the average daily trading volume, as specified in Article 3 of the Commission Delegated Regulation (EU) 2016/1052 supplementing the Market Abuse Regulation (EU) 596/2014 ("MAR").

The Company confirms that it is not currently in possession of any price sensitive information.

For further information, please contact:

Cantor Fitzgerald Europe Richard Harris Tunga Chigovanyika	+44 (0) 20 7894 8229 +44 (0) 20 7894 7069
Maitland Administration Services Limited	cosec@maitlandgroup.com

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