GAMCO Announces over 83% of Shares Eligible for Its Shareholder Designated Charitable Contribution P
GAMCO Announces over 83% of Shares Eligible for Its Shareholder Designated Charitable Contribution Program
- 21.4 million shares registered at July 31,2013
- Expected contribution of $5.3 million
RYE, N.Y.--(BUSINESS WIRE)-- GAMCO Investors, Inc. (GAMCO) (NYS: GBL) announced today that at the close of July 31, 2013, the record date to participate in the Shareholder Designated Charitable Contribution program, there were 21,372,630 Class A and Class B shares registered in owner name and eligible to participate in the program.
GAMCO adopted the Shareholder Designated Charitable Contribution program as a means to allow shareholders to designate a charitable contribution of corporate funds, based on their ownership interest, to a charitable organization of their choice. Each such shareholder will be eligible to direct a donation of $0.25 per share to their designated charity.
We will distribute, shortly, a charitable contribution form that must be returned to GAMCO no later than August 31, 2013 for the charitable contribution to be made. Only charities that are recognized 501(c)(3) organizations will be qualified to receive the donation from GAMCO on the shareholder's behalf. A list of eligible charities is available at: http://www.irs.gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check.
Based on the shares registered on the record date, the total maximum contribution GAMCO could make, should all registered shareholders designate a charity, would be over $5.3 million.
GAMCO Investors, Inc., through its subsidiaries, manages private advisory accounts (GAMCO Asset Management Inc.), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore funds (Gabelli Securities, Inc.). As of March 31, 2013, GAMCO had $40.1 billion in assets under management.
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
Our disclosure and analysis in this press release may contain some forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. In particular, these include statements relating to future actions, future performance and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, there can be no assurance that our actual results will not differ materially from what we expect or believe.
Douglas R. Jamieson
President & Chief Operating Officer
Phone: (914) 921-5020
For further information please visit
KEYWORDS: United States North America New York
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