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LONDON - Geiger Counter Limited announced Tuesday it has entered into a standstill agreement with Saba Capital Management, L.P. following what the company described as "constructive engagement" between the parties.
Under the terms of the agreement, Saba Capital has committed not to require the board to convene a general meeting or exercise voting rights to remove any board members during the standstill period. The investment firm has also agreed not to vote against board recommendations on specified ordinary course resolutions proposed at general or annual meetings.
The standstill agreement will remain in effect until either Geiger Counter’s Annual General Meeting in 2028 or any earlier winding up, liquidation, or voluntary corporate reconstruction of the company’s shares and assets.
Geiger Counter, which trades on the London Stock Exchange (LON:LSEG), made the announcement in a regulatory filing, noting that the information constitutes inside information under UK market regulations.
The agreement appears to resolve potential governance tensions between the investment firm and Geiger Counter’s management, providing the company with a period of stability in its board composition and decision-making processes.
Manulife | CQS Investment Management and Cavendish Capital Markets Limited serve as advisors to Geiger Counter, according to the press release statement.
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