<PAGE> 1
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
Filed by the Registrant / /
Filed by a Party other than the Registrant /X/
Check the appropriate box:
<TABLE>
<S> <C>
/X/ Preliminary Proxy Statement / / Confidential, for Use of the Commission
Only (as permitted by Rule 14a-6(e)(2))
/ / Definitive Proxy Statement
/ / Definitive Additional Materials
/ / Soliciting Material Pursuant to sec.240.14a-11(c) or sec.240.14a-12
</TABLE>
The Gabelli Global Multimedia Trust, Inc.
- --------------------------------------------------------------------------------
(Name of Registrant as Specified In Its Charter)
- --------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/X/ $125 per Exchange Act Rules 0-11(c)(1)(ii), or 14a-6(i)(1), or 14a-6(i)(2)
or Item 22(a)(2) of Schedule 14A.
/ / $500 per each party to the controversy pursuant to Exchange Act Rule
14a-6(i)(3).
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
(1) Title of each class of securities to which transaction applies:
---------------------------------------------------------------------
(2) Aggregate number of securities to which transaction applies:
---------------------------------------------------------------------
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):
---------------------------------------------------------------------
(4) Proposed maximum aggregate value of transaction:
---------------------------------------------------------------------
(5) Total fee paid:
---------------------------------------------------------------------
/ / Fee paid previously with preliminary materials.
/ / Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
---------------------------------------------------------------------
(2) Form, Schedule or Registration Statement No.:
---------------------------------------------------------------------
(3) Filing Party:
---------------------------------------------------------------------
(4) Date Filed:
---------------------------------------------------------------------
<PAGE> 2
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
One Corporate Center
Rye, New York 10580-1434
(914) 921-5070
--------------------------------
NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
To Be Held on May 13, 1996
--------------------------------
To the Shareholders of
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
Notice is hereby given that the Annual Meeting of Shareholders of The
Gabelli Global Multimedia Trust Inc. (the "Trust") will be held at the Cole
Auditorium, Greenwich Public Library, 101 West Putnam Avenue, Greenwich,
Connecticut 06830, on Monday, May 13, 1996, at 11:30 a.m., for the following
purposes:
1. To elect two Directors of the Trust (PROPOSAL 1);
2. To ratify the selection of Price Waterhouse LLP as the independent
accountants of the Trust for the year ending December 31, 1996
(PROPOSAL 2); and
3. To consider and vote upon such other matters as may come before said
Meeting or any adjournment thereof.
These items are discussed in greater detail in the attached Proxy
Statement.
The close of business on March 15, 1996, has been fixed as the record date
for the determination of shareholders entitled to notice of and to vote at the
meeting and any adjournments thereof.
YOUR VOTE IS IMPORTANT REGARDLESS OF THE SIZE OF YOUR HOLDINGS IN THE
TRUST. WHETHER OR NOT YOU PLAN TO ATTEND THE MEETING, WE ASK THAT YOU PLEASE
COMPLETE AND SIGN THE ENCLOSED PROXY CARD AND RETURN IT PROMPTLY IN THE ENCLOSED
ENVELOPE WHICH NEEDS NO POSTAGE IF MAILED IN THE CONTINENTAL UNITED STATES.
INSTRUCTIONS FOR THE PROPER EXECUTION OF PROXIES ARE SET FORTH ON THE INSIDE
COVER.
By Order of the Directors
JAMES E. MCKEE
Secretary
, 1996
<PAGE> 3
INSTRUCTIONS FOR SIGNING PROXY CARDS
The following general rules for signing proxy cards may be of assistance to
you and avoid the time and expense to the Trust involved in validating your vote
if you fail to sign your proxy card properly.
1. Individual Accounts: Sign your name exactly as it appears in the
registration on the proxy card.
2. Joint Accounts: Either party may sign, but the name of the party
signing should conform exactly to a name shown in the registration.
3. All Other Accounts: The capacity of the individuals signing the proxy
card should be indicated unless it is reflected in the form of
registration. For example:
<TABLE>
<CAPTION>
REGISTRATION VALID SIGNATURE
-------------------------------------------------- -----------------------------------
<S> <C>
CORPORATE ACCOUNTS
(1) ABC Corp.......................................... ABC Corp.
(2) ABC Corp.......................................... John Doe, Treasurer
(3) ABC Corp.
c/o John Doe, Treasurer......................... John Doe
(4) ABC Corp., Profit Sharing Plan.................... John Doe, Trustee
TRUST ACCOUNTS
(1) ABC Trust......................................... Jane B. Doe, Trustee
(2) Jane B. Doe, Trustee
u/t/d 12/28/78.................................. Jane Doe
CUSTODIAN OR ESTATE ACCOUNTS
(1) John B. Smith, Cust.
f/b/o John B. Smith, Jr. UGMA................... John B. Smith
(2) John B. Smith..................................... John B. Smith, Jr., Executor
</TABLE>
<PAGE> 4
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
---------------------
ANNUAL MEETING OF SHAREHOLDERS
May 13, 1996
---------------------
PROXY STATEMENT
This Proxy Statement is furnished in connection with the solicitation of
proxies by the Directors of The Gabelli Global Multimedia Trust Inc. (the
"Trust") for use at the Annual Meeting of Shareholders of the Trust to be held
on May 13, 1996, at 11:30 a.m., at the Cole Auditorium, Greenwich Public
Library, 101 West Putnam Avenue, Greenwich, Connecticut, and at any adjournments
thereof (the "Meeting"). A Notice of Meeting of Shareholders and a proxy card
accompany this Proxy Statement.
In addition to the solicitation of Proxies by mail, officers of the Trust
and officers and regular employees of Gabelli Funds, Inc. and Furman Selz LLC,
the Fund's investment adviser (the "Adviser") and administrator (the
"Administrator"), respectively, affiliates of the Adviser and Administrator and
other representatives of the Trust also may solicit proxies by telephone,
telegraph or in person. In addition, the Trust has retained Georgeson and
Company, Inc. to assist in the solicitation of Proxies for a fee estimated at
$6,000 plus reimbursement of expenses. The costs of solicitation and the
expenses incurred in connection with preparing the Proxy Statement and its
enclosures will be paid by the Trust. The Trust will reimburse brokerage firms
and others for their expenses in forwarding solicitation materials to the
beneficial owners of shares. The Trust's most recent annual report is available
upon request, without charge, by writing the Trust at One Corporate Center, Rye,
New York, 10580-1434 or calling the Trust at (800) 422-3554.
If the enclosed proxy is properly executed and returned in time to be voted
at the Meeting, the shares represented thereby will be voted in accordance with
the instructions marked thereon. Unless instructions to the contrary are marked
thereon, the proxy will be voted FOR the election of the nominees as Directors,
FOR the other matters listed in the accompanying Notice of Annual Meeting of
Shareholders and FOR any other matters deemed appropriate. Any shareholder who
was given a proxy has the right to revoke it at any time prior to its exercise
either by attending the Meeting and voting his or her shares in person or by
submitting a letter of revocation or a later-dated proxy to the Trust at the
above address prior to the date of the Meeting.
In the event a quorum is present at the Meeting but sufficient votes to
approve any of the proposed items are not received, the persons named as proxies
may propose one or more adjournments of such Meeting to permit further
solicitation of proxies. A shareholder vote may be taken on one or more of the
proposals in this Proxy Statement prior to such adjournment if sufficient votes
have been received and it is otherwise appropriate. Any such adjournment will
require the affirmative vote of a majority of those shares present at the
Meeting in person or by proxy. If a quorum is present, the persons named as
proxies will vote those proxies which they are entitled to vote FOR any such
proposal in favor of such an adjournment and will vote those proxies required to
be voted for rejection of any such item against any such adjournment.
The close of business on March 15, 1996 has been fixed as the record date
for the determination of shareholders entitled to notice of and to vote at the
Meeting and all adjournments thereof.
Each shareholder is entitled to one vote for each full share and an
appropriate fraction of a vote for each fractional share held. On the record
date there were 11,476,548 shares of the Trust outstanding.
To the knowledge of the management of the Trust, no person owns of record
or beneficially 5% or more of the shares of the Trust except that, as of March
15, 1996, shares were held of record by Cede & Co., a nominee
partnership of The Depository Trust Company. Of such shares, shares,
representing 19% of the outstanding shares of the Trust, are held by The
Depository Trust Company as nominee for Smith Barney Inc., representing
approximately discretionary and non-discretionary accounts.
This Proxy Statement is first being mailed to shareholders on or about
March 22, 1996.
<PAGE> 5
PROPOSAL 1: TO ELECT TWO DIRECTORS OF THE TRUST
At the Meeting, the following two Directors of the Trust are to be elected
to hold office until the 1999 Annual Meeting of the Shareholders and until their
successors are elected and qualified. Unless authority is withheld, it is the
intention of the persons named in the proxy to vote the proxy FOR the election
of the nominees named below. Each nominee has indicated that he will serve if
elected, but if any nominee should be unable to serve the proxy will be voted
for any other person determined by the persons named in the proxy in accordance
with their judgment. Each of the Directors of the Trust has served in that
capacity since the April 6, 1994 organizational meeting of the Trust.
<TABLE>
<CAPTION>
NUMBER AND PERCENTAGE OF
SHARES OF CAPITAL STOCK
POSITION WITH THE TRUST, BENEFICIALLY OWNED**
NAME AND BUSINESS BUSINESS EXPERIENCE DURING PAST DIRECTLY OR INDIRECTLY
ADDRESS FIVE YEARS AND AGE ON MARCH 15, 1996
- ------------------------ ------------------------------------------ ------------------------
<S> <C> <C>
DR. THOMAS E. BRATTER Director of the Trust. Director, President 1,182 Shares***
One Corporate Center and Founder, The John Dewey Academy
Rye, NY 10580-1434 (residential college preparatory
therapeutic high school). Dr. Bratter is
55 years old. (10)
BILL CALLAGHAN Director of the Trust. President of Bill 38 Shares***
One Corporate Center Callaghan Associates, Ltd., an executive
Rye, NY 10580-1434 search company. Mr. Callaghan is 52 years
old. (3)(10)
</TABLE>
The following Directors of the Trust will continue to serve in such
capacity until their terms of office expire and their successors are elected and
qualified.
<TABLE>
<CAPTION>
NUMBER AND PERCENTAGE OF
SHARES OF CAPITAL STOCK
POSITION WITH THE TRUST, BUSINESS BENEFICIALLY OWNED**
NAME AND BUSINESS EXPERIENCE DURING PAST FIVE YEARS, DIRECTLY OR INDIRECTLY
ADDRESS AGE AND DATE TERM EXPIRES ON MARCH 15, 1996
- ------------------------ ------------------------------------------ ------------------------
<S> <C> <C>
*MARIO J. GABELLI, CFA Chairman of the Board and President of the 79,678 Shares
One Corporate Center Trust; Chairman of the Board, Chief
Rye, NY 10580-1434 Executive Officer and Chief Investment
Officer of Gabelli Funds, Inc.; Chief
Investment Officer of GAMCO Investors,
Inc., Chairman of the Board and Chief
Executive Officer of Lynch Corporation;
Director of The Morgan Group, Inc. and
Spinnaker Industries, Inc. Mr. Gabelli is
53 years old. (1998)
(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11)(12)
FELIX J. CHRISTIANA Director of the Trust. Retired; formerly 2,873 Shares***
One Corporate Center Senior Vice President of Dollar Dry Dock
Rye, NY 10580-1434 Savings Bank. Mr. Christiana is 70 years
old. (1998)
(1)(2)(3)(4)(5)(8)(10)(13)
JAMES P. CONN Director of the Trust. Managing Director 10,352 Shares***
One Corporate Center of Financial Security Assurance since
Rye, NY 10580-1434 1992; President and Chief Executive
Officer of Bay Meadows Operating Company
from 1988 through 1992. Mr. Conn is 58
years old. (1997) (1)(2)(10)(14)
</TABLE>
2
<PAGE> 6
<TABLE>
<CAPTION>
NUMBER AND PERCENTAGE OF
SHARES OF CAPITAL STOCK
BENEFICIALLY OWNED**
POSITION WITH THE TRUST, BUSINESS DIRECTLY OR INDIRECTLY
NAME AND BUSINESS EXPERIENCE DURING PAST FIVE YEARS, ON
ADDRESS AGE AND DATE TERM EXPIRES MARCH 15, 1996
- ------------------------ ------------------------------------------ ------------------------
<S> <C> <C>
ANTHONY R. PUSTORINO Director of the Trust. Certified Public 1,056Shares***
One Corporate Center Accountant. Professor of Accounting, Pace
Rye, NY 10580-1434 University, since 1965. Mr. Pustorino is
70 years old. (1997)
(1)(2)(3)(4)(5)(7)(10)(11)(13)
*KARL OTTO POHL Director of the Trust. Partner of Sal 0
One Corporate Center Oppenheim Jr. & Cie (private investment
Rye, NY 10580-1434 bank); Former President of the Deutsche
Bundesbank and Chairman of its Central
Bank Council from 1980 through 1991;
Currently Board Member of IBM World Trade
Europe/Middle East/Africa Corp.;
Bertelsmann AG, Zurich Versicherungs-
Gesellschaft (insurance); the
International Advisory Board for JP Morgan
& Co.; Supervisory Board Member of Royal
Dutch (petroleum company) ROBECo/o Group;
Advisory Director of Unilever N.V. and
Unilever Deutschland; German Governor,
International Monetary Fund from 1980
through 1991; and Board Member, Bank for
International Settlements from 1980
through 1991. Mr. Pohl is 66 years old.
(1997)
(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11)(12)
SALVATORE J. ZIZZA Director of the Trust. President and Chief 1,666Shares***
One Corporate Center Executive Officer of The Lehigh Group Inc.
Rye, NY 10580-1434 (an electrical supply wholesaler). Mr.
Zizza is 50 years old. (1997)
(1)(2)(4)(10)
Directors and Officers
as a Group Shares( %)
</TABLE>
- ------------
*"Interested person" of the Trust, as defined in the Investment Company Act of
1940, as amended (the "1940 Act"). Mr. Gabelli is an "interested person" as a
result of his employment as an officer of the Trust and its adviser. Mr.
Gabelli is a registered representative of an affiliated broker-dealer. Mr.
Pohl receives fees from Gabelli Funds, Inc. but has no obligation to provide
any services to it. Although this relationship does not appear to require
designation of Mr. Pohl as an "interested person," the Trust has made such
designation in order to avoid the possibility that Mr. Pohl's independence
would be questioned.
** For this purpose "beneficial ownership" is defined under Section 13(d) of
the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The
information as to beneficial ownership is based upon information furnished
to the Trust by the Directors.
*** Less than 1%.
3
<PAGE> 7
(1) Trustee of The Gabelli Asset Fund.
(2) Trustee of The Gabelli Growth Fund.
(3) Director of The Gabelli Value Fund Inc.
(4) Director of The Gabelli Convertible Securities Fund, Inc.
(5) Director of Gabelli Equity Series Funds, Inc.
(6) Trustee of The Gabelli Money Market Funds.
(7) Director of Gabelli Investor Funds, Inc.
The Trust pays each Director not affiliated with the Adviser or its
affiliates, a fee of $3,000 per year plus $500 per meeting attended, together
with the Director's actual out-of-pocket expenses relating to attendance at
meetings. The aggregate remuneration paid by the Trust to such Directors during
the fiscal year ended December 31, 1995, amounted to $40,000.
During the year ended December 31, 1995, the Directors of the Trust met
four times, none of which were special meetings of Directors. Each Director then
serving in such capacity attended at least 75% of the meetings of Directors and
of any Committee of which he is a member. Felix J. Christiana and Anthony R.
Pustorino serve on the Trust's Audit Committee and these Directors are not
"interested persons" of the Trust as defined in the 1940 Act. The Audit
Committee is responsible for recommending the selection of the Trust's
independent accountants and reviewing all audit as well as non-audit accounting
services performed for the Trust. During the fiscal year ended December 31,
1995, the Audit Committee met twice.
The Directors serving on the Trust's Nominating Committee are Felix J.
Christiana (Chairman) and Salvatore J. Zizza, neither of whom is an "interested
person" of the Trust as defined in the 1940 Act. The Nominating Committee is
responsible for recommending qualified candidates to the Board in the event that
a position is vacated or created. The Nominating Committee did not meet during
the fiscal year ended December 31, 1995. The Trust does not have a standing
compensation committee.
Bruce N. Alpert, Vice President and Treasurer of the Trust and James E.
McKee, Secretary of the Trust, are the only executive officers of the Trust not
included in the listing of Directors above. Mr. Alpert is 44 years old and has
served as an officer of the Trust since its inception. Since June 1988, he has
served as Vice President and Chief Financial and Administrative Officer of the
Investment Advisory Division of the Adviser; and he currently serves as an
officer for each mutual fund managed by the Adviser or Teton Advisers LLC. Mr.
McKee is 32 years old and has served as Secretary of the Trust since August 16,
1995. He has served as Vice President and General Counsel of GAMCO Investors,
Inc. since 1993 and of Gabelli Funds, Inc. since August 1995. Mr. McKee also
serves as Secretary for each mutual fund managed by the Adviser or Teton
Advisers LLC. From 1992 through 1993 Mr. McKee served as Branch Chief with the
U.S. Securities and Exchange Commission in New York. From 1989 through 1992 he
served as a staff attorney with the U.S. Securities and Exchange Commission in
New York. The business address of each of these officers is One Corporate
Center, Rye, New York 10580-1434.
(8) Director of Gabelli Global Series Funds, Inc.
(9) Director of Gabelli Gold Fund, Inc.
(10) Director of The Gabelli Equity Trust Inc.
(11) Director of The Gabelli Capital Series Funds, Inc.
(12) Director of Gabelli International Growth Fund, Inc.
(13) Trustee of The Treasurer's Fund
(14) Trustee of The Westwood Funds
4
<PAGE> 8
The following table sets forth certain information regarding the
compensation of the Trust's directors and officers receiving compensation in
excess of $60,000 from the Trust. Officers of the Trust who are employed by the
Adviser receive no compensation or expense reimbursement from the Trust.
COMPENSATION TABLE
FISCAL YEAR ENDED DECEMBER 31, 1995
<TABLE>
<CAPTION>
PENSION OR
RETIREMENT
BENEFITS TOTAL COMPENSATION
AGGREGATE ACCRUED AS ESTIMATED FROM THE TRUST AND
COMPENSATION PART OF ANNUAL FUND COMPLEX PAID
FROM THE TRUST RETIREMENT TO DIRECTORS AND
NAME OF PERSON AND POSITION TRUST EXPENSES BENEFITS OFFICER*
- --------------------------- ------------ ------------ ---------- ------------------
<S> <C> <C> <C> <C>
MARIO J. GABELLI 0 0 N/A 0
Chairman of the Board
PAUL R. ADES** $5,000 0 N/A $ 19,000(2)
Director
DR. THOMAS E. BRATTER $5,000 0 N/A $ 19,000(2)
Director
BILL CALLAGHAN $5,000 0 N/A $ 33,000(3)
Director
FELIX J. CHRISTIANA $5,000 0 N/A $ 71,500(9)
Director
JAMES P. CONN $5,000 0 N/A $ 35,000(4)
Director
KARL OTTO POHL $5,000 0 N/A $ 80,253(15)
Director
ANTHONY R. PUSTORINO $5,000 0 N/A $ 81,003(10)
Director
SALVATORE J. ZIZZA $5,000 0 N/A $ 40,000(5)
Director
</TABLE>
- ------------
* Represents the total compensation paid to such persons during the calendar
year ended December 31, 1995 by investment companies (including the Trust) from
which such person receives compensation that are considered part of the same
fund complex as the Trust because they have common or affiliated investment
advisers. The number in parenthesis represents the number of such investment
companies.
** Resigning May 13, 1996
5
<PAGE> 9
REQUIRED VOTE
In the election of Directors of the Trust, those candidates receiving the
highest number of votes cast at the Meeting if a quorum is present shall be
elected to the two positions.
PROPOSAL 2: TO RATIFY THE SELECTION OF PRICE WATERHOUSE LLP
AS THE INDEPENDENT ACCOUNTANTS OF THE TRUST
FOR THE YEAR ENDING DECEMBER 31, 1996
Upon recommendation by the Audit Committee, Price Waterhouse LLP, 1177
Avenue of the Americas, New York, New York, 10036, has been selected by the vote
of a majority of those Directors who are not "interested persons" of the Trust
to serve as independent accountants for the Trust's fiscal year ending December
31, 1996. Price Waterhouse LLP has advised the Trust that it is independent with
respect to the Trust in accordance with the applicable requirements of the
American Institute of Certified Public Accountants and the Securities and
Exchange Commission (the "Commission").
Representatives of Price Waterhouse LLP are expected to be present at the
Meeting to answer appropriate questions and will be given the opportunity to
make a statement if they so desire.
REQUIRED VOTE
Ratification of the selection of Price Waterhouse LLP as independent
accountants requires the affirmative vote of a majority of the votes cast by
holders of shares of the Trust represented at the Meeting if a quorum is
present.
THE BOARD OF DIRECTORS, INCLUDING THE "NON-INTERESTED" DIRECTORS,
RECOMMENDS THAT THE SHAREHOLDERS VOTE "FOR" THE PROPOSAL TO RATIFY THE SELECTION
OF PRICE WATERHOUSE LLP AS THE INDEPENDENT ACCOUNTANTS OF THE TRUST FOR THE YEAR
ENDING DECEMBER 31, 1996.
THE INVESTMENT ADVISER
Gabelli Funds, Inc. acts as investment adviser to the Trust. The business
address for Gabelli Funds, Inc. is One Corporate Center, Rye, New York
10580-1434.
COMPLIANCE WITH THE SECURITIES EXCHANGE ACT OF 1934
Section 16(a) of the Exchange Act requires the Trust's officers and
directors, and persons who own more than ten percent of a registered class of
the Trust's securities, to file reports of ownership and changes in ownership
with the Commission and the New York Stock Exchange. Officers, directors and
greater than ten percent shareholders are required by Commission regulation to
furnish the Trust with copies of all Section (16)(a) forms they file.
Based solely on its review of the copies of such forms received by it, the
Trust believes that during 1995 its officers, directors and shareholders holding
greater than ten percent of the shares the Trust complied with all applicable
filing requirements under the Exchange Act.
6
<PAGE> 10
BROKER NON-VOTES AND ABSTENTIONS
If a proxy which is properly executed and returned accompanied by
instructions to withhold authority to vote represents a broker "non-vote" (that
is, a proxy from a broker or nominee indicating that such person has not
received instructions from the beneficial owner or other person entitled to vote
shares on a particular matter with respect to which the broker or nominee does
not have discretionary power), is unmarked or marked with an abstention
(collectively, "abstentions"), the shares represented thereby will be considered
to be present at the Meeting for purposes of determining the existence of a
quorum for the transaction of business. Under Maryland law, abstentions do not
constitute a vote "for" or "against" a matter and will be disregarded in
determining the "votes cast" on an issue. The election of Directors (Proposal 1)
requires that each candidate receives the highest number of votes cast at the
Meeting; therefore, abstentions will be disregarded. The ratification of Price
Waterhouse LLP as independent accountants of the Trust (Proposal 2) requires the
affirmative vote of a majority of the votes cast at the Meeting; therefore,
abstentions will be disregarded.
Shareholders of the Trust will be informed of the voting results of the
Meeting in the Trust's Semi-Annual Report dated June 30, 1996.
OTHER MATTERS TO COME BEFORE THE MEETING
The Directors do not intend to present any other business at the Meeting,
nor are they aware that any shareholder intends to do so. If, however, any other
matters are properly brought before the Meeting, the persons named in the
accompanying form of proxy will vote thereon in accordance with their judgment.
SHAREHOLDER PROPOSALS
All proposals by shareholders of the Trust which are intended to be
presented at the Trust's next Annual Meeting of Shareholders to be held in 1997,
must be received by the Trust for consideration for inclusion in the Trust's
proxy statement and proxy relating to that meeting not later than November 1,
1996.
IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY. SHAREHOLDERS WHO DO NOT
EXPECT TO ATTEND THE MEETING ARE THEREFORE URGED TO COMPLETE, SIGN, DATE AND
RETURN THE PROXY CARD AS SOON AS POSSIBLE IN THE ENCLOSED POSTAGE-PAID ENVELOPE.
7
<PAGE> 11
/X/ PLEASE MARK VOTES AS IN THIS EXAMPLE
<TABLE>
<CAPTION>
For All
For Withhold Except
<S> <C> <C> <C>
1.) To elect two Directors of the Trust. / / / / / /
Bill Callaghan and Thomas E. Bratter
</TABLE>
If you do not wish your shares voted "FOR" a particular nominee, mark the
"For All Except" box and strike a line through the nominee(s) name. Your
shares will be voted for the remaining nominee(s).
<TABLE>
<CAPTION>
For Against Abstain
<S> <C> <C> <C>
2.) To ratify the selection of Price Waterhouse LLP / / / / / /
as the independent accountants of the Trust for
the year ending December 31, 1996;
3.) To consider and vote upon such other matters as
may come before said Meeting or any adjournment
thereof.
</TABLE>
RECORD DATE SHARES:
- -----------------------------------------------------------------
REGISTRATION
- -----------------------------------------------------------------
<TABLE>
- --------------------------------------------------------
<S> <C> <C> <C>
Please be sure to sign and date Date Mark box at right if comments or address / /
this Proxy. changes have been noted on the reverse side
of this card.
- -------------------------------------------------------- ------------------------------------------------------
Shareholder sign here Co-owner sign here
- -----------------------------------------------------------------------------------------------------
DETACH CARD DETACH CARD
</TABLE>
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
Dear Shareholder:
Please take note of the important information enclosed with this Proxy
Ballot. There are a number of issues related to the management and operation of
your Company that require your immediate attention and approval. These are
discussed in detail in the enclosed proxy materials.
Your vote counts, and you are strongly encouraged to exercise your right to
vote your shares.
Please mark the boxes on the proxy card to indicate how your shares shall
be voted. Then sign the card, detach it and return your proxy vote in the
enclosed postage paid envelope.
Your vote must be received prior to the Annual Meeting of Shareholders, May
13, 1996.
Thank you in advance for your prompt consideration of these matters.
Sincerely,
The Gabelli Global Multimedia Trust Inc.
<PAGE> 12
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
THIS PROXY IS SOLICITED ON BEHALF OF THE DIRECTORS
The undersigned hereby appoints Mario J. Gabelli, Anthony R. Pustorino,
Felix J. Christiana, Bruce N. Alpert and each of them, attorneys and proxies of
the undersigned, with full powers of substitution and revocation, to represent
the undersigned and to vote on behalf of the undersigned all shares of The
Gabelli Global Multimedia Trust Inc. (the "Trust") which the undersigned is
entitled to vote at The Annual Meeting of Shareholders of the Trust to be held
at the Cole Auditorium, Greenwich Public Library, 101 West Putnam Avenue,
Greenwich, Connecticut 06830 on May 13, 1996 at 11:30 a.m., and at any
adjournments thereof. The undersigned hereby acknowledges receipt of the Notice
of Meeting and Proxy Statement and hereby instructs said attorneys and proxies
to vote said shares as indicated herein. In their discretion, the proxies are
authorized to vote upon such other business as may properly come before the
Meeting.
A majority of the proxies present and acting at the Meeting in person or by
substitute (or, if only one shall be so present, then that one) shall have and
may exercise all of the power and authority of said proxies hereunder. The
undersigned hereby revokes any proxy previously given.
This proxy, if properly executed, will be voted in the manner directed by
the undersigned shareholder. If no direction is made, this proxy will be voted
FOR election of the nominees as directors and FOR Proposal 2. Please refer to
the Proxy Statement for a discussion of the proposals.
- --------------------------------------------------------------------------------
PLEASE VOTE, DATE, AND SIGN ON OTHER SIDE AND RETURN PROMPTLY IN ENCLOSED
ENVELOPE.
- --------------------------------------------------------------------------------
Please sign this proxy exactly as your name appears on the books of the
Trust. Joint owners may sign individually. Trustees and other fiduciaries
should indicate the capacity in which they sign, and where more than one name
appears, a majority must sign. If a corporation, this signature should be that
of an authorized officer who should state his or her title.
- --------------------------------------------------------------------------------
HAS YOUR ADDRESS CHANGED? DO YOU HAVE ANY COMMENTS?
- ------------------------------ ------------------------------
- ------------------------------ ------------------------------
- ------------------------------ ------------------------------
- ------------------------------ ------------------------------
- ------------------------------ ------------------------------
- ------------------------------ ------------------------------
