Contact Information: Contact: John F. Ramírez Email: 1-212-344-6310, extension 208
Global Income Fund, Inc. Files to Delist Its Common Stock
| Source: Global Income Fund
NEW YORK, NY--(Marketwire - March 27, 2008) - Global Income Fund, Inc. (the "Fund") (AMEX : GIF ) today announced that it has filed a Form 25 with the Securities and
Exchange Commission to withdraw the listing of its common stock from the
American Stock Exchange ("AMEX") to become effective on April 7, 2008.
The Fund expects that delisting will allow management to focus its
resources on pursuing the Fund's investment objectives and position the
Fund to enhance long term stockholder value. The Fund will continue to
maintain its investment company registration and update its stockholders
with financial information as required.
Following the effectiveness of the Form 25 filing, the Fund anticipates
that its common stock will be quoted over-the-counter on the OTC Bulletin
Board ("OTCBB") or Pink Sheets LLC ("Pink Sheets") to the extent market
makers commit to make a market in the Fund's shares, although the Fund can
provide no assurance that trading in the stock will continue. The OTCBB and
Pink Sheets are electronic networks through which participating
broker-dealers can make markets and enter orders to buy and sell shares of
issuers. The Fund expects that a registered broker-dealer may sponsor the
Fund's shares on the OTCBB or Pink Sheets and act as a market maker
following delisting of the Fund's shares from the AMEX.
The primary investment objective of Global Income Fund, Inc. is to provide
for its shareholders a high level of income, with capital appreciation as a
secondary objective. The Fund pursues its investment objectives by
investing primarily in a global portfolio of investment grade fixed income
securities and closed end funds that invest significantly in income
producing securities. The Fund is managed by CEF Advisers, Inc., a
subsidiary of Winmill & Co.
Incorporated, which is engaged through subsidiaries in stock market and
gold investing
through its investment management of equity and gold mutual
funds, and closed end funds. More information about the Fund may be
obtained at www.globalincomefund.net.
This release contains certain "forward looking statements" made pursuant to
the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. These statements involve known and unknown risks,
uncertainties and other factors, many of which are beyond the control of
the Fund, which may cause the Fund's actual results to be materially
different from those expressed or implied by such statements. Such risks,
uncertainties and other factors include those described in the Fund's
filings with the Securities and Exchange Commission. The forward looking
statements made herein are only made as of the date of this release, and
the Fund undertakes no obligation to publicly update such forward looking
statements to reflect subsequent events or circumstances.