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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Edinburgh Worldwide Investment Trust plc
Legal Entity Identifier: 213800JUA8RKIDDLH380
EWIT Shareholders Reject Saba Resolutions
Following a Requisitioned General Meeting of Edinburgh Worldwide Investment Trust plc ("EWIT" or the "Company"), the Board of Directors (the "Board") announces that none of the resolutions proposed by Saba Capital Management L.P. ("Saba") were passed.
Excluding shares held by Saba, shareholders representing 92.7% of the shares voted rejected Saba's proposals. Of the total votes cast, 53.2% of shares were voted against Saba's resolutions, in line with the recommendation of the independent Board.
Shareholders representing over 70% of the total issued share capital voted on the resolutions, a record shareholder turnout, exceeding the turn out at last year's requisitioned general meeting. This 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:
"For the second time in less than a year, Edinburgh Worldwide's shareholders have voted decisively to reject Saba's proposal to install its own nominees to the Board and the uncertainty that would have entailed.
Shareholders have clearly stated their preference for EWIT's unique and differentiated mandate, investing in some of the world's most exciting and transformative companies. The Board is resolutely focused on building momentum through the Path for Growth strategy which has delivered strong returns for shareholders since its implementation.
Saba remains our largest shareholder and we will continue to seek constructive engagement with them to develop potential solutions that allow us to move forward. Following a year of significant and costly distraction, we are ready to return our full attention to our primary purpose: investing in innovation, transformation, and exceptional potential in a way that respects the clear wishes expressed by the majority of shareholders both last February and again today.
I would like to thank shareholders for their strong engagement, rigorous scrutiny, and continued support for Edinburgh Worldwide over the last 12 months."
|
Resolutions |
Votes For |
Votes Against |
Total Votes Cast |
Votes Withheld |
|||
|
Number |
% of votes cast |
Number |
% of votes cast |
Number |
% of total voting rights |
Number |
|
|
1. To remove Jonathan Simpson-Dent as a director of the Company |
114,522,491 |
46.8 |
130,135,995 |
53.2 |
244,658,486 |
70.5 |
1,079,039 |
|
2. To remove Caroline Roxburgh as a director of the Company |
114,486,822 |
46.8 |
130,191,061 |
53.2 |
244,677,883 |
70.5 |
1,059,642 |
|
3. To remove Mungo Wilson as a director of the Company |
114,522,661 |
46.8 |
130,144,725 |
53.2 |
244,667,386 |
70.5 |
1,070,139 |
|
4. To remove Jane McCracken as a director of the Company |
114,527,522 |
46.8 |
130,142,763 |
53.2 |
244,670,285 |
70.5 |
1,067,240 |
|
5. To remove Mary Gunn as a director of the Company |
114,493,696 |
46.8 |
130,172,555 |
53.2 |
244,666,251 |
70.5 |
1,071,274 |
|
6. To remove Gregory Eckersley as a director of the Company |
114,440,510 |
46.8 |
130,223,775 |
53.2 |
244,664,285 |
70.5 |
1,073,240 |
|
7. To appoint Gabi Gliksberg as a director of the Company |
114,382,925 |
46.8 |
130,208,620 |
53.2 |
244,591,545 |
70.5 |
1,145,980 |
|
8. To appoint Jassen Trenkow as a director of the Company |
114,375,350 |
46.8 |
130,209,445 |
53.2 |
244,584,795 |
70.5 |
1,152,730 |
|
9. To appoint Michael Joseph as a director of the Company |
114,371,472 |
46.8 |
130,211,771 |
53.2 |
244,583,243 |
70.5 |
1,154,282 |
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 Requisitioned General Meeting, the total number of voting rights in the Company was 346,884,292.
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/.
For further information please contact:
Investors:
Deutsche Numis
Nathan Brown
Tel: +44 20 7547 0569
Matt Goss
Tel: +44 20 7547 0541
Media:
Greenbrook Advisory
Rob White / Peter Hewer
+44 207 952 2000
Company Secretary:
Baillie Gifford & Co Limited
Tel 0800 917 2113
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
20 January 2026
| TIDM | EWI |
| Share Price | 259.80p-0.19% |
| Market Cap | £1.05bn |
On 20 January 2026, Edinburgh Worldwide Investment Trust plc announced that none of the resolutions proposed by Saba Capital Management L.P. were passed at a Requisitioned General Meeting. Of the total votes cast, 53.2% were against Saba's resolutions, with shareholders representing over 70% of the total issued share capital participating in the vote.
| Date | 20 Jan 2026 |
| Time | 14:04:52 |
| Category | Miscellaneous |
| ID | 6385P |