Saba loses Keystone and Baillie Gifford US Growth votes
Non-Saba shareholders almost unanimously voted against the proposals at each investment trust
Herald Investment Trust
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Herald shareholders reject Saba proposals
Outside of Saba’s shares, only 0.15% of the votes cast were in favour of Saba’s proposals to replace the trust’s board
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ISS recommends Herald shareholders to vote against Saba proposals
Independent proxy adviser said Saba has ‘not presented a compelling case for change’
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Update: Saba plans full cash exit option for Herald
Herald board responds to Saba’s announced plans to offer a cash exit, should its attempts to appoint its own directors be successful
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Saba Capital launches campaign to replace seven investment trust boards
Activist investor is seeking to replace the boards of Baillie Gifford US Growth, Henderson Opportunities and more