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LONDON - Edinburgh Worldwide Investment Trust plc (the "Company") announced today that its shareholders have voted against a series of resolutions proposed by Saba Capital Management L.P. to overhaul its Board of Directors. During a Requisitioned General Meeting, 63.8% of the votes cast opposed the changes suggested by Saba Capital, aligning with the Board's recommendations.
The total turnout for the vote represented 64.7% of the issued share capital, with a notable contribution from retail shareholders who participate through digital platforms. Civica Election Services, an independent assessor appointed by the Board, supervised the vote.
Jonathan Simpson-Dent, Chair of Edinburgh Worldwide Investment Trust, commented on the outcome, emphasizing the shareholders' preference for the current strategy and acknowledging the need for the Trust to meet performance expectations. He referenced actions taken in 2024 that have shown early positive results and reiterated the commitment to delivering on shareholder expectations.
The proposed resolutions included the removal of Jonathan Simpson-Dent and other current directors, as well as the appointment of Paul Kazarian and Jonathan Zucker as directors, all of which were rejected by a majority of shareholders.
The Company has confirmed that proxy votes at the discretion of the Chair were included in the "Votes Against" totals, and that a "Withheld" vote is not considered a legal vote in the calculation of the proportions for or against a resolution.
As of the date of the General Meeting, Edinburgh Worldwide Investment Trust had a total of 370,315,908 voting rights. The detailed resolutions are available on the Company's website as part of the Notice of Requisitioned General Meeting in the Circular.
This announcement, based on a press release statement, is now part of the public domain and is considered inside information as per the UK version of the EU Market Abuse Regulation.
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