Company: GGT-PG
Filing Date: 2025-04-17
Form Type: 424B2
Source: 0001999371-25-004396
Chunk: 27

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-04-17
Form: 424B2
Chunk 27
---
 leverage for the Series C Auction Rate Preferred Stock exceeds the total return (based on net asset
value) on the Fund’s common stock, the Investment Adviser will reduce that portion of its management fee on the incremental
assets attributable to the Series C Auction Rate Preferred Stock to mitigate the negative impact of that leverage on the common
stockholder’s total return. The Investment Adviser currently intends that the voluntary advisory fee waiver will remain in
effect for as long as the Series C Auction Rate Cumulative Preferred Stock is outstanding. This fee waiver does not apply to any
other series of preferred stock. The Investment Adviser, however, reserves the right to modify or terminate the voluntary advisory
fee waiver at any time. The Fund’s total return on the net asset value of the common stock is monitored on a monthly basis
to assess whether the total return on the net asset value of the common stock exceeds the stated dividend rate or corresponding
swap rate of each particular series of preferred stock for the period.

The test to confirm
the accrual of the management fee on the assets attributable to each particular series of preferred stock is annual. The Fund will
accrue for the management fee on these assets during the fiscal year if it appears probable that the Fund will incur the management
fee on those additional assets. See “Management of the Fund.”

For the year ended
December 31, 2023, the Fund’s total return on the net asset value of the common stock exceeded the stated dividend rate
of the outstanding Series C Auction Rate Preferred Stock. Thus, management fees with respect to these assets were earned.

A discussion regarding
the basis for the Board’s approval of the continuation of the investment advisory contract of the Fund is available in the
Fund’s semiannual report to stockholders for the six months ended June 30, 2023.

Repurchase of Common Stock

The Board has authorized
the Fund to repurchase shares of its common stock on the open market when the shares are trading at a discount of 5% or more (or
such other percentage as the Board may determine from time to time) from the net asset value of the shares. Although the Fund’s
Board has authorized such repurchases, the Fund is not required to repurchase its common stock. In total through December 31,
2023, the Fund repurchased 1,595,468 shares. Such repurchases are subject to certain notice and other requirements under the 1940
Act. See “Repurchase of Common Stock.”

Anti-T