Gabelli Value Plus+ (GVP) shareholders rejected all three proposals put forward by Associated Capital Group (ACG) at a general meeting on Monday (7 December).
The board of GVP, which recommended voting against the potential remedies, said the vote "demonstrates the stark lack of support for the proposals … by a significant majority of shareholders". The board said it would put forward further proposals for the members' voluntary liquidation of the company and called on ACG to vote in favour. ACG owns 27.4% of the share capital of GVP, meaning it can block liquidation proposals which need 75% to be in favour. ACG hits back at 'vocal' GVP shareholders 'seeking a quick return on their investment' The board said ACG should "take full account...
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