EDINBURGH WORLDWIDE INVESTMENT TRUST PLC
RNS Number :6133V
Edinburgh Worldwide Inv Trust
PLC
3 February 2025
Edinburgh
Worldwide Investment Trust plc (EWI)
Legal
Entity Identifier: 213800JUA8RKIDDLH380
3
February 2025
PROTECT
YOUR INVESTMENT
PROTECT
YOUR TRUST
VOTE
TWICE TO STOP SABA
VOTE
"AGAINST" SABA AT THE GENERAL MEETING
VOTE
"FOR" YOUR BOARD AT THE AGM
Independent Voting Advisers
Recommend Shareholders to Vote
The Board of Edinburgh
Worldwide Investment Trust plc (the "Company")
notes the publication of the voting recommendations from
independent voting advisers Glass Lewis, ISS and PIRC, in relation
to the Company's forthcoming shareholder meetings on 14 February
2025.
All three INDEPENDENT VOTING
ADVISERS have recommended that shareholders
VOTE
AGAINST all the Saba Resolutions at the
General Meeting
and
VOTE FOR all
the Resolutions to
reappoint your Board at the AGM
Industry-leading governance experts
Glass Lewis, ISS and PIRC share the Board's concerns about the
future of the Company should the proposals put forward by Saba, a
US hedge fund manager, be voted through.
These recommendations are in line with the unanimous
recommendation of the Company's independent
Board.
Saba's proposals represent an
existential threat to the Edinburgh Worldwide that you have
invested in. Its proposal COULD be voted through unless you USE
YOUR VOTES TO STOP SABA and SUPPORT THE BOARD. Historically, only
15% of Edinburgh Worldwide's Shareholders vote at our shareholder
meetings[1]. Saba
controls just over 25% of the Trust. In the Board's view, Saba's
plan is partly based on an assumption that Shareholders will not
vote on the Saba Resolutions at the GM, or for the Board's
resolutions at the AGM.
A copy of the circular setting out
the reasons for the Board's recommendation is available on a
dedicated website https://www.trustewit.com
as are instructions on how to vote, and details of
when voting closes according to platform. Please note that you are
being asked to vote in two separate meetings and it is important
that you do so.
VOTE
TWICE TO STOP SABA
THE
DEADLINE FOR PROXY VOTING AT THE GENERAL MEETING IS 11:45 A.M. ON
12 FEBRUARY 2025
THE
DEADLINE FOR PROXY VOTING AT THE AGM IS 12:00 NOON ON 12 FEBRUARY
2025
ALTHOUGH
PLEASE BE AWARE THAT SOME PLATFORMS MAY HAVE DEADLINES AS EARLY AS
6 FEBRUARY
If you need any further information
about how to vote please contact:
Shareholders: ewit@equiniti.com or 0371
384 2452
General
enquiries: enquiries@bailliegifford.com or 0800
917 2113
Jonathan Simpson-Dent, Chair of Edinburgh Worldwide
commented: "I'm encouraged that the
independent voting advisers, which many institutional investors
widely rely upon, have all highlighted serious concerns about
Saba's plans to replace an independent and expert Board with one
which we firmly believe is conflicted from the outset and not fully
aligned to your interests. The
Board of Edinburgh
Worldwide acknowledges a clean sweep, with shareholders at all
7 trusts under attack receiving independent voting advice
unequivocally opposing Saba's proposals. The message could not be
clearer: reject Saba's overt land grab,
vote against its resolutions and vote to back the
Board."
For further information please
contact:
Media:
Garfield Advisory
Andrew Garfield
Tel: +44 7974 982
337
Jason Nisse
Tel: + 44 7769 686618
Teneo
EWIT@teneo.com
Iain Dey
Tel: +44 7976 295906
Giles Kernick
Tel: +44 7817 913082
Investors:
Deutsche Numis
David Benda
Nathan Brown
Tel: +44 20 7260 1000
Baillie Gifford & Co
Naomi Cherry
Tel: +44 131 275 2000
Notes
Capitalised terms used in this
announcement have the meaning given to them in the Circular, unless
otherwise defined in this announcement.
