The board of Keystone Positive Change (KPC) investment trust has postponed its scheduled capital return scheme due to the requisitioned general meeting by Saba Capital.
In a stock exchange notice today (13 January), the board explained that, in September 2024, it had set out plans to return capital to shareholders through a scheme of reconstruction offering investors an uncapped cash exit in February 2025 and/or the option of a rollover into the "more liquid" £1.8bn Baillie Gifford Positive Change fund. Keystone Positive Change offers rollover into £1.8bn sister fund or cash exit in wind-up However, when Saba called the requisitioned meeting putting forward several resolutions, including the removal of the current board, it revealed it would vote aga...
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