Gabelli Merger Plus Sees Slight Net Asset Value Rise In Maiden Report

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LONDON (Alliance News) - Gabelli Merger Plus Trust PLC on Tuesday reported a rise in net asset value for its first financial report since listing on the London Main Market.

For the period from July 19 to the end of December, the trust's net asset value total return was up 0.7%, compared to the US Three-Month Treasury Bill Index, which returns 0.5% in the same period.

Net asset value per share as at the end of December was USD10.01, up from USD9.92 as at July 19, and revenue return per share in the period was at a loss of USD0.04.

Share price as at the end of December was USD10.34, representing a premium to net asset value of 3.5%, up from 0.8% as at July 19.

Shares in Gabelli Merger Plus were untraded on Tuesday, last quoted at USD10.40.

On July 17, Gabelli Merger Plus Trust raised USD100.1 million through an initial public offering of 10.0 million shares, ahead of its listing on the specialist fund segment of the London Main Market on July 19.

For the year ending June 30, Gabelli Merger Plus declared a first dividend of USD0.23 per share.

"We are enthusiastic for the year ahead. Global deal activity for the period remained strong and underscores the positive landscape we have articulated in the past; we are in the midst of a major wave of merger activity as companies with scale seek growth through Mergers and Acquisitions to access new markets and technologies," said Chairman Marc Gabelli.

By Dayo Laniyan; [email protected]

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