European Opportunities passes continuation vote in face of shareholder opposition

15-25% shareholders voted against

The embattled European Opportunities trust has successfully passed its continuation vote at its annual general meeting, despite strong pushback from shareholders.

In a stock exchange notice today (15 November), the trust said that all ordinary and special resolutions put to shareholders were approved. However, between 15-25% of votes were cast against the trust's directors' remuneration policy and report, their re-elections and the continuation of the trust. European Opportunities trust rejects shareholder call for 50% tender offer The trust had faced fierce pushback from activist investor Saba Capital, which argued shareholders should vote against its continuation. Saba also pushed last week for the trust to increase its tender offer fro...