REG - Edinburgh Worldwide - Edinburgh Worldwide Investment Trust Notice of AGM

Edinburgh Worldwide Investment TrustAnnouncement

07/04/2026 07:00

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RNS Number : 3281Z  Edinburgh Worldwide Inv Trust PLC  07 April 2026

Edinburgh Worldwide Investment Trust plc

Legal Entity Identifier: 213800JUA8RKIDDLH380

7 April 2026

 

Notice of AGM

 

VOTE IN FAVOUR of the Board resolutions to be proposed at the AGM

 

VOTE AGAINST the Saba resolutions to appoint its proposed nominees

 

YOU CAN STILL VOTE EVEN IF YOU HAVE TENDERED YOUR SHARES

 

Shareholders should ensure their votes are submitted ahead of platform
deadlines

 

 

The Board of Edinburgh Worldwide Investment Trust plc (the Company or
Edinburgh Worldwide) announces that it will hold its annual general meeting
(AGM) on 30 April 2026 at 12.00 noon at the offices of Baillie Gifford &
Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN.

The Board urges all shareholders to take action now to ensure their votes are
cast ahead of applicable deadlines, which may be earlier than the AGM date
depending on individual platforms.

The Board strongly recommends that shareholders VOTE IN FAVOUR of all Board
resolutions at the AGM, including the election and re-election of five
independent directors who remain committed to overseeing the Company on behalf
of all shareholders. Mungo Wilson will not be standing for re-election as his
nine year tenure has come to an end and he is therefore stepping down in line
with corporate governance best practice.

Shareholders who hold their shares through platforms should be aware that
their platforms may not proactively contact them regarding voting at the AGM.
Shareholders may therefore need to engage directly with their platform to
ensure their vote is cast in time. The Company has appointed proxy advisers
Georgeson to assist shareholders with this process, and they can be contacted
at EWIT@georgeson.com or on +44 (0) 7748 491 929 (Monday to Friday, 9 a.m. to
5 p.m.).

Shareholders can still vote at the AGM even if they choose to tender their
shares.

VOTE AGAINST Saba's resolutions to appoint its nominees

As previously announced, the Board received a notice of resolutions from Saba
Capital Management L.P. (Saba) (via Vidacos Nominees Limited) on 10 February
2026 for inclusion at the AGM. These resolutions seek to appoint Gabriel
Gliksberg, Jassen Trenkow and Michael Joseph as directors of the Company.
These are the same three nominees whose appointments were overwhelmingly
rejected by over 90% of non-Saba shareholders at the general meeting held on
20 January 2026.

Despite repeated attempts by the Board, Saba's proposed nominees have not
engaged with shareholders, despite repeated opportunities, including declining
the opportunity to participate in a shareholder Q&A session.

The Board strongly recommends that shareholders VOTE AGAINST these
resolutions, which the Board believes would result in Saba gaining control of
the Company.

A circular containing the notice of AGM which also sets out the Company's
response to the proposed appointment of Saba's nominees, and explaining why
the Board believes shareholders should vote against their appointment, will
shortly be available on the Company's website at www.edinburghworldwide.co.uk
(http://www.edinburghworldwide.co.uk/)  and its microsite, www.trustEWIT.com
(http://www.trustEWIT.com) .

 

Jonathan Simpson-Dent, Chair of Edinburgh Worldwide, commented:

"This AGM is another critical moment for shareholders. Shareholders have
already rejected Saba's attempts to take control of the Company twice and have
overwhelmingly supported the Board and its strategy. Despite this, Saba has
returned for a third time in just 15 months with the same objective
shareholders have only recently rejected: to replace the Board and take
control of the Company.

Our analysis indicates a real risk that control could pass at this AGM if
shareholders do not vote. Failing to vote risks allowing the Company to fall
under Saba's control. That is why the Board took decisive action to introduce
the Tender Offer, giving shareholders a clear choice: to realise value now
while retaining exposure to SpaceX, or to remain invested.

This AGM will determine whether the Company continues to be governed by an
independent board or becomes controlled by Saba. Even if shareholders have
tendered their shares, it is essential that they vote.

If re-elected, the Board will remain focused on protecting the interests of
all shareholders, including ensuring the orderly implementation of the Tender
Offer and the realisation and delivery of SpaceX proceeds."

Update on the Tender Offer

 

Shareholders are reminded that the deadline for voting on the Company's
proposed tender offer is 2.00 p.m. on 8 April 2026, although some platforms
may impose earlier deadlines. Separately, shareholders must elect to tender
their shares by 1.00 p.m. on 16 April 2026.

 

The general meeting in relation to the Tender Offer will take place at 2.00
p.m. on Friday, 10 April 2026. The result of the tender offer vote will not be
announced at that meeting, but will be released as soon as practicable
thereafter via a regulatory news service announcement.

 

For further information on how to participate in the tender offer, please
contact:

 

Shareholders: EWIT@georgeson.com OR +44 (0) 7748 491 929

 

For further information please contact:

 

Investors:

Deutsche Numis

Nathan Brown

Tel: +44 20 7547 0569

nathan.brown@dbnumis.com

Matt Goss

Tel: +44 20 7547 0541

matt.goss@dbnumis.com

 

Media:

Greenbrook Advisory

Rob White / Peter Hewer

+44 207 952 2000

ewit@greenbrookadvisory.com

 

Company Secretary:

Baillie Gifford & Co Limited

crtallenquiries@bailliegifford.com

Tel 0131 275 2000

 

 

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