Shareholders of the Edinburgh Worldwide investment trust (EWI) have voted against proposals from US activist investor Saba Capital to oust the trust’s current board.
In the seventh general meeting of Saba's ‘Plan A', EWI shareholders voted today (14 February) by 63.8% to 36.2% in favour of continuation of the incumbent board. The general meeting also saw a turnout of 64.7% of shareholders, according to a stock exchange notice. Saba Capital launches next round of trust activism targeting transitions to open-ended structure Following the result, chair Jonathan Simpson-Dent said: "Edinburgh Worldwide's shareholders have spoken: they have rejected Saba Capital's proposal for a fundamentally different strategy based on fundamentally different princ...
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