REG - Edinburgh Worldwide - EWIT Response to requisition of a General Meeting

Edinburgh Worldwide Investment TrustAnnouncement

04/12/2025 08:30

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RNS Number : 2560K  Edinburgh Worldwide Inv Trust PLC  04 December 2025

Edinburgh Worldwide Investment Trust plc

Legal Entity Identifier: 213800JUA8RKIDDLH380

4 December 2025

 

Response to requisition of a General Meeting

 

The Board of Edinburgh Worldwide Investment Trust plc ("Edinburgh Worldwide"
or the "Trust"), together with its advisers, acknowledge the requisition
notice (the "Notice of Requisition") received on the 3(rd) of December 2025
from Saba Capital Management, L.P. ("Saba") (via Vidacos Nominees Limited)
seeking to convene a General Meeting (the "Requisition GM"). The Notice of
Requisition requests that, at the Requisition GM, Shareholders of the Company
consider and vote on ordinary resolutions to remove the Company's six
independent non-executive directors and appoint Gabi Gliksberg, Jassen Trenkow
and Michael Joseph as directors of the Company.

With respect to the Notice of Requisition, the Board recommends that
Shareholders take no action and await a further announcement from the Company
that will be made in due course.

Jonathan Simpson-Dent, Chair of Edinburgh Worldwide, said "Saba has for a
second time launched a power grab calling for the entire Board to be replaced
with US candidates of their own choosing. Their goal is clear - to gain
control of the Company to prioritise their own commercial interests.

Saba's letter does not acknowledge the significant progress EWIT has achieved
since this Board reset the Company on a path for growth a year ago. Since
then, NAV total return has been +13.1%, well ahead of the S&P Global Small
Cap Index (+5.0%), the Company's benchmark index.

 

Furthermore, the Company's proactive steps over the last year have supported a
tightly managed discount, currently 5.4%, significantly narrower than the
Global Smaller Companies peer group weighted average discount of 11.0%.(1)

 

Shareholders should not be fooled by this US hedge fund's claims. This Board
remains fully committed to serving the best interests of all Shareholders.
Saba's proposal would result in a Board answerable to only one."

 

1: All data sourced from Deutsche Numis Research and made up to 2 December
2025

 

For further information please contact:

Investors:

Deutsche Numis

Nathan Brown

Tel: +44 20 7260 1426

Matt Goss

Tel: +44 20 7260 1642

Media:

Greenbrook Advisory

Rob White / Peter Hewer

+44 207 952 2000

ewit@greenbrookadvisory.com (mailto:ewit@greenbrookadvisory.com)

Company Secretary:

Baillie Gifford & Co Limited

crtallenquiries@bailliegifford.com (mailto:crtallenquiries@bailliegifford.com)

Tel 0131 275 2000

 

 

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