REG - Edinburgh Worldwide - EWIT response to Saba Capital's last announcement

Edinburgh Worldwide Investment TrustAnnouncement

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RNS Number : 9020Y  Edinburgh Worldwide Inv Trust PLC  31 March 2026

Edinburgh Worldwide Investment Trust plc

Legal Entity Identifier: 213800JUA8RKIDDLH380

31 March 2026

 

Edinburgh Worldwide's response to Saba Capital's latest announcement

The Board of Edinburgh Worldwide Investment Trust plc (the "Company" or
"EWIT") is responding to Saba Capital's latest announcement regarding EWIT.
Given the statement appears to be, in both tone and style, designed to confuse
and mislead shareholders, the Board believes it is important to focus on two
key points.

 

1.   Saba has no authority to mandate strategic alternatives on the
Company.

 

Shareholders should be clear that the matters raised are the responsibility of
an independent Board. Saba's latest statement promotes outcomes it cannot
itself deliver and should not be presented as credible proposals. Shareholders
are being asked to place trust in Saba to deliver outcomes over which it has
no control and for which there is no certainty of implementation. This lack of
credibility is underscored by the fact that its nominee directors have
repeatedly failed to engage with shareholders - including not attending the
General Meeting at which they were proposed and declining to participate in
the Company's shareholder Q&A webinar on 27 March. Shareholders should be
clear that these proposals form part of a continued attempt to gain control of
EWIT, despite that approach having already been decisively rejected multiple
times.

 

2.   Saba's proposals risk misleading shareholders on tax and liquidity.

 

Any transaction of the type proposed would be expected to give rise to capital
gains tax for UK investors. Saba has provided no clarity on how its proposals
would avoid this, nor any substantive detail on how they would be implemented
in practice.

 

Jonathan Simpson-Dent, Chair of EWIT, commented:

 

"Shareholders should not be fooled, we have been here before. Saba continues
to seek control despite shareholders having expressly rejected its proposals
twice as they continue to benefit from strong results over the last two years
under the Path for Growth strategy.

 

If Saba wants to offer superior value, it should follow established market
practice and make a formal takeover offer to all shareholders, including an
appropriate control premium and fair value for the Company's stake in SpaceX.

 

Instead, shareholders are being presented with proposals that introduce
uncertainty, and which Saba itself does not have the ability to deliver.
Shareholders should not be misled or distracted and focus on who they trust to
deliver.

 

The Board strongly encourages all shareholders to have their say by voting FOR
the Tender Proposal ahead of the 8 April deadline."

 

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

enquiries@bailliegifford.com

Tel 0800 917 2113

 

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