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LONDON - The independent proxy advisory firm Institutional Shareholder Services (ISS) has recommended that shareholders of The European Smaller Companies Trust PLC (ESCT) vote against all resolutions at the upcoming Requisitioned General Meeting, scheduled for February 5, 2025. This advisory aligns with the unanimous stance of ESCT's Board, which had previously advised shareholders to reject the resolutions presented.
ISS's guidance supports the Board's perspective, which was detailed in a circular distributed to shareholders on January 8, 2025, and is also available on the company's website. The Board's recommendation to vote against the resolutions mirrors the advice from another proxy advisory firm, Glass Lewis (JO:LEWJ).
James Williams, Chairman of ESCT, reiterated the importance of shareholder participation in the voting process, emphasizing the need for shareholders to ensure their views are represented in the outcome. Williams' statement reflects the Board's position that the resolutions proposed by Saba are not in the best interests of the shareholders.
The Requisitioned General Meeting has been called to address specific resolutions put forward by Saba, a shareholder in the company. The Board, along with ISS and Glass Lewis, has taken a clear stance against these proposals.
The information reported here is based on a press release statement from ESCT. It is essential for shareholders to consider these recommendations as they prepare to cast their votes on the future direction of the company at the Requisitioned General Meeting.
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