Gabelli Global Utility & Income Trust Authorizes a Rights Offering

  Gabelli Global Utility & Income Trust Authorizes a Rights Offering

Business Wire

RYE, N.Y. -- April 11, 2013

The Board of Trustees of The Gabelli Global Utility & Income Trust (NYSE
MKT:GLU) (the “Fund”) approved the issuance of additional common shares and a
new series of preferred shares through a rights offering to the Fund’s
existing common shareholders. Key aspects of the rights offering, including
the timing and the pricing, have yet to be determined and will be announced at
a later date.

The Board of Trustees believes a rights offering encourages long-term
investors to enhance their positions in the Fund. The proceeds from the rights
offering will be used for investment purposes. The Board of Trustees reserves
the right to cancel the rights offering.

Under the proposed rights offering, each shareholder would receive one right
for each share held on the record date. Three rights plus the subscription
price will be required to acquire one additional common share and one newly
issued preferred share. The rights may only be exercised to purchase an equal
number of common shares and preferred shares and may not be exercised to
purchase only common shares or preferred shares or an unequal number of common
shares and preferred shares.

The rights are expected to be transferable and the Fund intends to apply to
list the rights for trading on an exchange, allowing non-subscribing
shareholders the option of selling their rights on the exchange or through the
transfer agent, generally at a low transaction cost.

Shareholders of record on the record date for the rights offering are expected
to be entitled to oversubscribe, subject to certain limitations, for any
shares not purchased pursuant to the primary subscription rights.

Any rights offering will be made only by means of a prospectus and this notice
does not constitute an offer to sell any securities. The information in this
announcement is not complete and is subject to change.

The Gabelli Global Utility & Income Trust is a non-diversified, closed-end
management investment company with $68 million in total net assets whose
investment objective is to seek a consistent level of after-tax return for its
investors with an emphasis on tax advantaged dividend income. The Fund is
managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc.
(NYSE:GBL), which is a publicly traded NYSE listed company.

Contact:

The Gabelli Global Utility & Income Trust
David Schachter or Adam Tokar or Laurissa Martire
914-921-5070
 
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