REG - Edinburgh Worldwide - Result of Requisitioned General Meeting

Edinburgh Worldwide Investment TrustAnnouncement

14/02/2025 13:45

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RNS Number : 2275X  Edinburgh Worldwide Inv Trust PLC  14 February 2025

 

Edinburgh Worldwide Investment Trust plc

Legal Entity Identifier: 213800JUA8RKIDDLH380

Full Voting Result of Requisitioned General Meeting

Following a Requisitioned General Meeting of Edinburgh Worldwide Investment
Trust plc (the "Company"), the Board of Directors ("Board") announces that
none of the resolutions proposed by Saba Capital Management L.P. were passed.

Of the total votes cast, 63.8% of shares were voted against Saba's
resolutions, in line with the recommendation of the Board. A total of 36.2% of
shares voted in favour of Saba's resolutions, including the shares held by
Saba.

Shareholders representing 64.7% of the total issued share capital voted on the
resolutions. The level of shareholder participation in the vote was supported
by a high level of engagement by retail shareholders who hold their shares
through digital platforms.

The vote has been supervised by Civica Election Services, whom the Board
appointed as independent assessor to report on the poll held at the
Requisitioned General Meeting in respect of each of the Requisitioned
Resolutions.

Jonathan Simpson-Dent, Chair of Edinburgh Worldwide Investment Trust, said:

"Edinburgh Worldwide's shareholders have spoken: they have rejected Saba
Capital's proposal for a fundamentally different strategy based on
fundamentally different principles with a fundamentally different investment
approach.

"Today's result confirms that this unique mandate still appeals, but
shareholders also expect the Trust to deliver. We took decisive action in 2024
with positive early results. Our job now is to deliver the performance our
shareholders rightly expect."

 

 Resolutions                                                      Votes For               Votes Against                 Total Votes Cast                       Votes Withheld
                                                                  Number      % of votes  Number       % of votes cast  Number       % of total voting rights  Number

                                                                              cast
 1. To remove Jonathan Simpson-Dent as a director of the Company  86,787,077  36.2%       152,927,121  63.8%            239,714,198  64.7%                     140,433
 2. To remove Jane McCracken as a director of the Company         86,796,679  36.2%       152,936,553  63.8%            239,733,232  64.7%                     102,849
 3. To remove Helen James as a director of the Company            86,817,499  36.2%       152,901,499  63.8%            239,718,998  64.7%                     102,083
 4. To remove Caroline Roxburgh as a director of the Company      86,770,790  36.2%       152,947,442  63.8%            239,718,232  64.7%                     102,849
 5. To remove Mungo Wilson as a director of the Company           86,786,004  36.2%       152,927,994  63.8%            239,713,998  64.7%                     102,083
 6. To remove Mary Gunn a director of the Company                 86,801,870  36.2%       152,911,362  63.8%            239,713,232  64.7%                     102,849
 7. To appoint Paul Kazarian as a director of the Company         86,709,281  36.2%       153,045,156  63.8%            239,754,437  64.7%                     61,635
 8. To appoint Jonathan Zucker as a director of the Company       86,740,825  36.2%       153,013,751  63.8%            239,754,576  64.7%                     61,496

 

Any proxy votes which are at the discretion of the Chair have been included in
the "Votes Against" total. Please note a vote "Withheld" is not a vote in law
and is not counted in the calculation of the proportion of votes "For" and
"Against" a resolution.

As at the date of the General Meeting, the total number of voting rights in
the Company was 370,315,908.

The full text of the Requisitioned Resolutions is contained in the Notice of
Requisitioned General Meeting contained in the Circular. The Circular is
available for viewing on the Company's website at https://www.trustewit.com/
(https://www.trustewit.com/) .

 

 

 

 

Teneo

EWIT@teneo.com

Iain Dey

Tel: +44 7976 295906

Oliver Bell

Tel: +44 7917 221748

 

Investors:

Deutsche Numis

David Benda

Nathan Brown

Tel: +44 20 7260 1000

 

Baillie Gifford & Co

Naomi Cherry

Tel: +44 131 275 2000

 

Notes

This announcement is released by the Company and the information contained
within this announcement is deemed by the Company to constitute inside
information for the purposes of Article 7 of the UK version of the EU Market
Abuse Regulation (Regulation (EU) No.596/2014) which forms part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the
publication of this announcement via a Regulatory Information Service, such
information is now considered to be in the public domain. The person
responsible for arranging for the release of this announcement on behalf of
the Company is Baillie Gifford & Co Limited, the Company Secretary.

 

Baillie Gifford & Co Limited

Company Secretaries

14 February 2025

 

 

Regulated Information Classification: Additional regulated information
required to be disclosed under applicable laws

 

 

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