SOURCE: Global Income Fund

March 27, 2008 16:30 ET

Global Income Fund, Inc. Files to Delist Its Common Stock

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.

Contact Information

  • Contact:

    John F. Ramírez
    Email: Email Contact
    1-212-344-6310, extension 208