Company: GGT-PG
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001133228-25-002911
Chunk: 30

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 30
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 of the meeting. If
no request for a meeting is made, the corporation may itself present the question at any stockholders meeting.

If voting
rights are not approved at the meeting or if the acquiring person does not deliver an acquiring person statement as required by the statute,
then the corporation may redeem for fair value any or all of the control shares, except those for which voting rights have previously
been approved. The right of the corporation to redeem control shares is subject to certain conditions and limitations, including, compliance
with the 1940 Act. Fair value is determined, without regard to the absence of voting rights for the control shares, as of the date of
the last control share acquisition by the acquiror or of any meeting of stockholders at which the voting rights of the shares are considered
and not approved. If voting rights for control shares are approved at a stockholders meeting and the acquiror becomes entitled to vote
a majority of the shares entitled to vote, all other stockholders may exercise appraisal rights. The fair value of the shares as determined
for purposes of appraisal rights may not be less than the highest price per share paid by the acquiror in the control share acquisition.

The Control
Share Act does not apply (a) to shares acquired in a merger, consolidation or share exchange if the corporation is a party to the transaction
or (b) to acquisitions approved or exempted by the charter or bylaws of the corporation. In connection with the Fund’s election
to be subject to the Control Share Act, the Fund’s Board of Directors amended the Fund’s bylaws to exempt the Fund’s
preferred stock from the Control Share Act. This exemption applies to the Fund’s outstanding preferred stock and to any preferred
stock it may issue in the future.

The
foregoing is only a summary of the material terms of the Control Share Act. Stockholders should consult their own counsel with
respect to the application of the Control Share Act to any particular circumstance. Some uncertainty around the general application
under the 1940 Act of state control share statutes exists as a result of recent federal and state court decisions which have held
that control share acquisition provisions in funds’ governing documents and the opting into state control share statutes are
not consistent with the 1940 Act. Additionally, in some circumstances uncertainty may also exist in how to enforce the control share
restrictions contained in state control share statutes against beneficial owners who hold their shares through financial
intermediaries. The Board of Directors has considered the Control