Gamco Global Gold to redeem outstanding 6.625% series A preferreds

By Marisa Wong

Madison, Wis., May 13 - Gamco Global Gold, Natural Resources & Income Trust by Gabelli plans to redeem all remaining outstanding shares of its 6.625% series A cumulative preferred shares on June 12, according to a news release.

The redemption price is $25.35425 per series A preferred, which is equal to the liquidation preference of $25.00 per preferred plus accumulated dividends of $0.35425 through the redemption date.

The redemption will be funded with proceeds from a recent sale of 5% series B cumulative preferreds, as previously announced.

The series A preferreds were issued on Oct. 16, 2007 and became callable beginning on Oct. 17, 2012.

The Rye, N.Y.-based fund invests primarily in equity securities of gold and natural resources companies and is managed by Gabelli Funds, LLC, a subsidiary of Gamco Investors, Inc.

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