The board of Herald investment trust has criticised Saba for its proposed cash exit offer to shareholders should it gain control of the trust’s board.
Earlier today (9 January), Saba said it would "encourage the new board to offer all shareholders a 100% cash exit at 99% of net asset value, if they wish", which is almost in line with the price at which Herald shares are currently trading. Saba added that it would "support further changes so this cash exit would be overseen by a fully independent board and would not expect it to occur for at least a year thereafter, ensuring portfolio value is maximised". Saba to offer exit strategy for Herald investment trust shareholders if vote passes However, Herald hit back at the New York h...
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