The board of Baillie Gifford’s Edinburgh Worldwide investment trust has reiterated its support for its strategy as it claims the documentation submitted by Saba Capital was incorrect.
In the latest event of the Saba saga, Edinburgh Worldwide - one of the seven boards called out by the US activist investor in December - released a notice today (3 January) stating: "On review of the documentation, in conjunction with the company's registrars, it was discovered that Saba's nominee was not the registered holder of sufficient shares on the date the requisition notice was served for the requisition notice to be a valid request in accordance with Section 303 of the Companies Act 2006." As a result, the chair of Edinburgh Worldwide, Jonathan Simpson Dent has notified Saba of ...
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