Welcome to our dedicated page for Royce Global Trust news (Ticker: RGT), a resource for investors and traders seeking the latest updates and insights on Royce Global Trust stock.
Royce Global Trust, Inc. (RGT) is a closed-end diversified management investment company whose shares trade on the New York Stock Exchange. As an asset management vehicle investing in both U.S. and non-U.S. common stocks, the fund regularly issues news that is relevant to income-focused and equity investors who follow closed-end funds and global equity strategies.
News about Royce Global Trust frequently centers on its distributions to common stockholders. The fund has announced year-end or annual distributions per share, detailing whether payments are optionally payable in additional shares of common stock or in cash, based on stockholder election. Each distribution announcement typically includes an estimated breakdown of sources, such as net investment income and net realized capital gains, and emphasizes that these figures are preliminary and not intended for tax reporting purposes.
In addition to distribution updates, Royce Global Trust’s news flow has covered corporate and governance actions. The fund has reported on conditional cash tender offers for a portion of its issued and outstanding shares, including amended terms, extended expiration dates, and the final or preliminary results of those offers. These releases provide information on the number of shares tendered, the percentage of shares accepted, and the purchase price formula tied to net asset value per share.
Royce Global Trust also issues news related to investment policy changes and advisory arrangements. Examples include announcements of changes to non-fundamental investment policies affecting the allocation between U.S. and non-U.S. companies, and stockholder approval of a new investment advisory agreement with Royce Investment Partners. Investors and analysts who follow RGT can use this news page to review the fund’s historical communications on distributions, tender offers, policy changes, and governance matters.
Royce Global Value Trust, Inc. (NYSE-RGT) has declared a year-end distribution of $1.19 per share on its Common Stock, payable on December 31, 2020. Stockholders of record at the close of business on December 18, 2020, will receive this distribution, which can be paid in cash or reinvested in additional shares. The fund's distribution sources include $1.19 from long-term gains, with no net investment income or short-term gains reported. Actual tax reporting amounts may vary based on future investment performance.
Royce Global Value Trust, Inc. (NYSE: RGT) filed an amended Schedule TO-I with the SEC, adjusting its conditional cash tender offer. Key changes include increasing the maximum repurchase of common stock from 40% to 50% and extending the expiration date from December 16, 2020, to December 21, 2020. The offer's approval is contingent upon stockholder consent for a new investment advisory agreement with Royce Investment Partners, set for discussion at a virtual meeting on December 17, 2020.
Royce Global Value Trust (NYSE-RGT) has announced December 18, 2020 as the record date for its fourth quarter Common Stock distribution. Stockholders can choose to receive the distribution in either additional shares of Common Stock or cash. The payout will occur on December 31, 2020, with an ex-dividend date of December 17, 2020. Further details regarding the distribution amount will be released in a subsequent press release. Royce Global Value Trust is a diversified closed-end management investment company focusing on U.S. and non-U.S. common stocks.
Saba Capital Management has announced an agreement with Royce Global Value Trust (NYSE: RGT) to amend its tender offer. This revised offer aims to purchase up to 50% of the Fund's outstanding shares at a price equal to 100% of the net asset value per share, expiring at 11:59 p.m. NYC time on December 21, 2020. Investors whose shares are accepted will receive cash in exchange. This strategic move is part of Saba's management approach, focusing on enhancing shareholder value.
On December 7, 2020, Royce Global Value Trust (NYSE: RGT) announced amended terms for its conditional cash tender offer to purchase up to 50% of its shares, priced at 100% of the net asset value as of the close of trading the day after the offer's expiration on December 21, 2020. The deal hinges on stockholder approval for a new investment advisory agreement with Royce Investment Partners, scheduled for a virtual meeting on December 17, 2020. Saba Capital Management has agreed to vote in favor of this agreement, influencing stockholder decisions.
Royce Global Value Trust, Inc. (NYSE: RGT) announced the postponement of its Special Meeting of Stockholders to December 17, 2020, due to the need for additional stockholder votes. The meeting will address a new investment advisory agreement with Royce Investment Partners, requiring a majority vote for approval. As of November 30, 2020, 64% of votes support the agreement. The meeting will be virtual, with participation details provided to stockholders. Proxy advisory firms ISS and Glass Lewis recommend voting 'FOR' the proposal.
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Royce Global Value Trust (NYSE: RGT) announced a conditional cash tender offer to purchase up to 40% of its outstanding shares at their net asset value (NAV) as of the close of trading on the day following the offer's expiration on December 16, 2020. This offer is contingent upon stockholder approval of a new investment advisory agreement with Royce Investment Partners. Additionally, the Special Meeting of Stockholders has been postponed to December 1, 2020. Proxy advisory firms have recommended that stockholders vote in favor of the agreement to ensure the Fund's management continuity.
Summary not available.
Royce Global Value Trust (NYSE: RGT) announced a conditional cash tender offer to repurchase up to 40% of its outstanding shares at the net asset value per share, contingent upon stockholder approval of a new advisory agreement with Royce Investment Partners. A Special Meeting for stockholders is scheduled for October 30, 2020. If more shares are tendered than the limit, purchases will be made on a pro rata basis. This announcement is not a solicitation to sell shares and does not guarantee the repurchase will resolve any market price discount.