This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Royce Value Trust, Inc. Stockholders Approve Spin-Off Of Royce Global Value Trust, Inc.

Royce Value Trust, Inc. (“Royce Value Trust”) (NYSE:RVT) announced that stockholders at its 2013 Special Meeting approved the contribution of approximately $100 million of its cash and/or securities to Royce Global Value Trust, Inc. (“Royce Global Value Trust”), a newly formed closed-end investment company, in exchange for a corresponding amount of common stock of Royce Global Value Trust, and the subsequent distribution of such Royce Global Value Trust common stock to Royce Value Trust common stockholders (the “spin-off”). The final amount of capital to be contributed by Royce Value Trust to Royce Global Value Trust, the number of shares of Royce Global Value Trust to be distributed in the spin-off, and the record and distribution dates for the spin-off will be announced at a later time. This press release does not constitute an offer of any securities for sale.

Royce Value Trust is a closed-end diversified management investment company whose shares of common stock are listed and traded on the New York Stock Exchange. The Fund’s primary investment goal is long-term capital growth, which it seeks by normally investing at least 65% of its assets in equity securities primarily of small- and micro-cap companies. The investment goal of Royce Global Value Trust is long-term growth of capital. Under normal market circumstances, the Fund will invest at least 80% of its net assets in equity securities, such as common stock and preferred stock, and at least 65% of its net assets in the equity securities of companies located in at least three countries outside of the United States. The shares of common stock of Royce Global Value Trust have been approved for listing on the New York Stock Exchange, subject to notice of issuance, under the symbol “RGT”. Each Fund is managed by Royce & Associates, LLC.

An investor in Royce Value Trust or Royce Global Value Trust should consider the Fund's investment goals, risks, fees, and expenses carefully before investing. For more information on the Royce Funds SM, please call Investor Services at 1-800-221-4268 or visit www.roycefunds.com.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,041.54 -190.48 -1.04%
S&P 500 2,104.20 -21.86 -1.03%
NASDAQ 5,032.7510 -56.6110 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs