Geiger Counter Ltd Geiger Counter - GCS - Entry into Standstill Agreement

Geiger Counter

01/07/2025 07:31

RNS Number : 1620P

Geiger Counter Ltd

01 July 2025

 

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT IS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) No. 5985/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED

                                                      

                                                       Geiger Counter Limited (or the "Company")

1 July 2025

Entry into Standstill Agreement

The Company is pleased to announce that, following constructive engagement with Saba Capital Management, L.P.  ("Saba"), it has agreed the terms of a Standstill Agreement.

Under the terms of the Standstill Agreement, Saba has agreed, amongst other things: that Saba shall not, and shall procure that its affiliates shall not, during the Standstill Period (i) require the Board to convene a general meeting of the Company pursuant to Jersey law; or (ii) exercise any voting rights available to remove, or publicly propose the removal of, any member of the Board. In addition, until the expiry or termination of the Standstill Period, Saba shall not, and shall use its reasonable endeavours to procure that its affiliates shall not, vote against the recommendation of the Board on specified ordinary course resolutions proposed at a general meeting or annual general meeting of the Company.

The Standstill Agreement shall have effect until the earliest of (i) the Company's AGM in 2028 or (ii) any earlier winding up, liquidation or voluntary corporate reconstruction of the shares and assets of the Company.

 

Enquiries

 

Manulife | CQS Investment Management
Craig Cleland
T: +44 (0) 20 7201 5368
Cavendish Capital Markets Limited
Tunga Chigovanyika
(Corporate Finance)
T: +44 (0) 20 7397 1915
Daniel Balabanoff / Pauline Tribe (Sales)
T: +44 (0) 20 7220 0500
R&H Fund Services (Jersey) Limited
Jane De Barros
T :+44 (0) 1534 825 259

 

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