Gabelli Merger Plus+ Trust PLC (LSE : GMP) commences share repurchases on December 1, 2020, under the program mandated by the shareholders in its Annual General Meeting on held on December 1, 2020. As per the mandate, the company is authorized to repurchase up to 1,548,198 shares, representing 14.99% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share and the maximum price which may be paid for each ordinary share is the higher an amount equal to 5% of the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List of the UK Listing Authority for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade of an ordinary share and the current highest independent bid for an ordinary share as derived from the London Stock Exchange Trading System. The authority shall expire at the conclusion of the 2021 Annual General Meeting of the company. As of September 30, 2020, the company had 10,334,166 ordinary shares in issue.