Company: GGT-PG
Filing Date: 2025-10-14
Form Type: 424B2
Source: 0001829126-25-008100
Chunk: 32

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-10-14
Form: 424B2
Chunk 32
---
 thereby increasing such stockholder’s
potential taxable gain or reducing his or her potential taxable loss on the sale of the stock. The return of capital is not a dividend
or capital gain and may reduce your investment in the Fund. Any amounts distributed to a stockholder in excess of the basis of
the stock will be taxable to the stockholder as capital gain. The Fund distributed a return of capital in 2023. See “Taxation.”

In the event the Fund
distributes amounts in excess of its net investment income and net capital gain, such distributions will decrease the Fund’s
total assets and, therefore, have the likely effect of increasing the Fund’s expense ratio. In addition, in order to make
distributions, the Fund might have to sell a portion of its investment portfolio at a time when independent investment judgment
might not dictate such action.

The Fund, along with
other registered investment companies advised by the Investment Adviser, has obtained an exemption from Section 19(b) of the
1940 Act and Rule 19b-1 thereunder permitting the Fund to make periodic distributions of long-term capital gains provided
that any distribution policy of the Fund with respect to its common stock calls for periodic (e.g., quarterly or semiannually,
but in no event more frequently than monthly) distributions in an amount equal to a fixed percentage of the Fund’s average
net asset value over a specified period of time or market price per share of common stock at or about the time of distribution
or payment of a fixed dollar amount. The exemption also permits the Fund to make distributions with respect to its preferred stock
in accordance with such stock’s terms.

If the total distributions
required by a periodic payment policy exceed the Fund’s net investment income and net capital gain, the excess will be treated
as a return of capital. Stockholders may periodically receive the payment of cash distributions from the Fund, which may consist
of either a distribution of net profits or a return of capital or a combination of the two. Stockholders should not assume that
the source of a distribution from the Fund is net profit. Distributions sourced from paid-in-capital should not be considered the
current yield or the total return from an investment in the Fund. If the Fund’s net investment income (including net short-term
capital gains) and net long-term capital gains for any year exceed the amount required to be distributed under a periodic payment
policy, the Fund generally intends to pay such excess once a year, but may, in its discretion