AIC comments on defeat of Saba’s proposals at Edinburgh Worldwide
Shareholders turn out in force to reject the activist’s plans for the trust.
The Association of Investment Companies (AIC) has commented on today’s general meeting of Edinburgh Worldwide Investment Trust.
Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “This second win for Edinburgh Worldwide against Saba Capital shows how much ordinary investors value their investment trust. Shareholders turned out in force to reject the replacement of the independent board with three new directors nominated by Saba.
“Once again, the vote has highlighted the importance of broad shareholder participation so that low turnouts don’t hand victory to large minority shareholders by default. We will continue to press the government to follow through on its promise to bring shareholder voting into the digital age by implementing the Bill of Shareholder Rights recommended by the Digitisation Taskforce.
“Across the investment trust industry, independent boards continue to work hard to deliver for their shareholders. Last year we saw a record number of deals, share buybacks and fee changes and corporate activity is continuing at pace in 2026.”
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