Saba Capital requests board changes at Baillie Gifford US Growth Trust.
Baillie Gifford US Growth Trust urged its shareholders to take no action on Monday after activist investor Saba Capital issued a requisition notice to have three directors of its choosing appointed at the upcoming annual general meeting.
Source: Sharecast
New York-based Saba, which is run by Boaz Weinstein and has a 29% stake in the trust, has requested that it appoint Jason Chen, Thomas H. McGlade and James Waterlow as directors of the company.
"The board recommends that shareholders take no action at this time and await a further announcement from the company in due course," the trust said in a very brief statement.
See latest RNS on Investegate
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
