American Stock Exchange Lists 6.625% Series A Cumulative Preferred Shares of The Gabelli Global Gold, Natural Resources & Income
October 22 2007 - 10:45AM
PR Newswire (US)
NEW YORK, Oct. 22 /PRNewswire/ -- The American Stock Exchange(R)
(Amex(R)) today announced the listing of 6.625% Series A Cumulative
Preferred Shares ("Series A Preferred Shares") of The Gabelli
Global Gold, Natural Resources & Income Trust, an Amex-listed
closed-end fund (AMEX:GGN). The Series A Preferred Shares will
trade under the ticker symbol GGN.Pr.A. A total of four million
Series A Preferred Shares were listed today. The issuance of $100
million of Series A Preferred Shares occurred on October 16, 2007.
The Series A Preferred Shares, rated "Aaa" by Moody's Investors
Service, Inc., are perpetual and noncallable for five years, and
were issued at $25 per share. Distributions will be paid quarterly
beginning on December 26, 2007. "Amex is pleased to partner with
The Gabelli Global Gold, Natural Resources & Income Trust to
provide investors with new ways to diversify their portfolios,"
said Tom Rzepski, Vice President, Amex ETF Marketplace. "These
preferred shares are a welcome addition to our suite of innovative
listings." Citigroup Global Markets Inc., Merrill Lynch, Pierce,
Fenner & Smith Incorporated and Gabelli & Company, Inc.
served as underwriters for the offering. The specialist for GGN and
GGN.Pr.A is HBH Specialists LLC. The Gabelli Global Gold, Natural
Resources & Income Trust is a non-diversified, closed-end
management investment company with $634 million in total assets
whose primary investment objective is to provide a high level of
current income. The Fund invests primarily in equity securities of
gold and natural resources companies and intends to earn income
primarily through a strategy of writing (selling) covered call
options on equity securities in its portfolio. The Fund is managed
by Gabelli Funds, LLC, a subsidiary of GAMCO Investors,
Inc.(NYSE:GBL). The American Stock Exchange(R) (Amex(R)) offers
trading across a full range of equities, options and exchange
traded funds (ETFs), including structured products and HOLDRS(SM).
In addition to its role as a national equities market, the Amex is
the pioneer of the ETF, responsible for bringing the first domestic
product to market in 1993. Leading the industry in ETF listings,
the Amex lists 359 ETFs to date. The Amex is also one of the
largest options exchanges in the U.S., trading options on
broad-based and sector indexes as well as domestic and foreign
stocks. DATASOURCE: American Stock Exchange CONTACT: Bari Trontz of
American Stock Exchange, +1-212-306-8964, Web site:
http://www.amex.com/
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