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GAMCO Global Gold, Nat Res & Inc Trust, 6.625% Series A Cumul Preferred Shares
Ticker Symbol: GGN-A* CUSIP: 36465A208 Previous CUSIP: 36244N208 Exchange: AMEX
* NOTE: This security is no longer trading as of 6/12/2013
Security has been Called for: Wednesday, June 12, 2013
May 13, 2013 --- The Board of Trustees of the GAMCO Global Gold, Natural Resources & Income Trust by Gabelli (NYSE MKT:GGN) authorized the redemption of all remaining outstanding shares of the Fund’s 6.625% Series A Cumulative Preferred Shares (the Series A Preferred Shares). The redemption date is June 12, 2013, and the redemption price is $25.35425 per Series A Preferred Share, which is equal to the liquidation preference of $25.00 per Series A Preferred Share, plus accumulated but unpaid dividends of $0.35425 through the redemption date. From and after the redemption date, the Series A Preferred Shares will no longer be deemed outstanding, dividends will cease to accrue, and all the rights of the shareholders of the Series A Preferred Shares with respect to the Series A Preferred Shares will cease, except the right to receive the redemption price. Shareholders of record will be mailed a redemption notice shortly._______________ Mar 12, 2013 -- The Board of Trustees of the GAMCO Global Gold, Natural Resources & Income Trust by Gabelli (NYSE MKT:GGN) has authorized the partial redemption of 2,000,000 of its outstanding 6.625% Series A Cumulative Preferred Shares. The redemption date is Thursday, April 11, 2013, and the redemption price is $25.069 per Series A Preferred Share, which is equal to the liquidation preference of $25.00 per Series A Preferred Share, plus accumulated but unpaid dividends of $0.069. From and after the redemption date, the Series A Preferred Shares to be redeemed will no longer be deemed outstanding, dividends will cease to accrue, and all the rights of the Series A Preferred Shareholders with respect to the redeemed Series A Preferred Shares will cease, except the right to receive the redemption price. Shareholders of record will be mailed a redemption notice shortly. For Series A Preferred Shares held in brokerage accounts, Depository Trust Company (“DTC”), the holder of record, determines the allocations of this partial series redemption by lottery among each participant account. Each participant account, as nominee for underlying beneficial owners (street name shareholders), in turn determines the allocations of redeemed shares among underlying beneficial owners. The procedures used by various participant accounts to allocate redeemed shares among beneficial owners may differ from other participant accounts as well as from the procedures used by DTC. The Series A Preferred Shares, which trade on the NYSE MKT under the symbol “GGN Pr A”, are rated “A1” by Moody’s Investors Service and have an annual dividend rate of $1.65625 per share. The Series A Preferred Shares were issued on October 16, 2007 at $25.00 per share and pay distributions quarterly. On October 17, 2012, the Series A Preferred Shares became callable at any time upon 15 days prior notice at the liquidation value of $25.00 per share plus accrued dividends.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: GAMCO Global Gold, Natural Resources & Income Trust, formerly the Gabelli Global Gold, Natural Resources & Income Trust, 6.625% Series A Cumulative Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 10/16/2012 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 6.625% ($1.65625) per annum are paid quarterly on 3/26, 6/26, 9/26 & 12/26 to holders of record on the record date declared by the board (NOTE: the ex-dividend date is at least 2 business days prior to the record date). To be issued the units must be assigned a rating of Aaa by Moody's. The majority of dividends paid by this preferred security should qualify for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and should also qualify for the dividends received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (GGN)
IPO - 10/12/2007 - 4.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: GGGNP Changed: 10/22/2007
Previous Name: Gabelli Global Gold, Nat Res & Inc Trust, 6.625% Series A Cumul Preferred Shares Changed: 12/19/2011
Market Value $100.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: One Corporate Center, Rye, NY 10580 |
Main Phone Number |
914-921-5100 |
Fax Number |
914-921-5392 |
Shareholder Services
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800-336-6983
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Toll Free Phone Number |
800-422-3554 |
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