EDINBURGH - Edinburgh Worldwide Investment Trust plc (the "Company") has confirmed receipt of a valid requisition notice from Saba Capital Management, L.P. ("Saba"), requesting a General Meeting to propose the replacement of the Company’s board and the appointment of alternative directors. This follows a previous request by Saba that did not meet the requirements of Section 303 of the Companies Act 2006.
The Company, which is known for providing investors access to emerging science and technology firms, will now organize a general meeting where shareholders can vote on the proposed changes. The specifics of the meeting, including its schedule, will be announced at a later date.
Jonathan Simpson Dent, chair of Edinburgh Worldwide, expressed his opposition to the proposed resolutions by Saba, describing them as a covert effort to take control of the trust. He emphasized the unique value the trust offers to its investors and called for their support to reject Saba’s proposals.
The board’s stance is to advise all shareholders to vote against the resolutions put forth by Saba at the upcoming meeting. The Company’s announcement is based on the press release statement and aims to provide shareholders with the necessary information regarding Saba’s General Meeting Requisition.
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