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Saba Capital Management, L.P. notified Lowland Investment Company PLC of a change in its major holdings, crossing a threshold on June 27, 2025. This notification reported a decrease in their total voting rights through financial instruments from a previous position of 5.097566% to a resulting 4.149492%. As of the threshold date, Saba Capital Management, L.P. held 9,179,529 voting rights in the issuer, primarily through Total Return Swaps, and informed Lowland Investment Company PLC on June 30, 2025.
| Date | 1 Jul 2025 |
| Time | 10:46:17 |
| Category | Holding(s) in company |
| ID | 2222P |
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
GB00BNXGHS27
Issuer Name
LOWLAND INVESTMENT COMPANY P L C
UK or Non-UK Issuer
UK
2. Reason for Notification
An acquisition or disposal of financial instruments; An event changing the breakdown of voting rights
3. Details of person subject to the notification obligation
Name
Saba Capital Management, L.P.
City of registered office (if applicable)
New York
Country of registered office (if applicable)
United States
4. Details of the shareholder
|
Name |
City of registered office |
Country of registered office |
|
Saba Capital Arcadia Master Fund, Ltd. |
|
Cayman Islands |
|
Saba Capital Bluebird Fund, Ltd. |
|
Cayman Islands |
|
Saba Capital Income & Opportunities Fund |
|
United States |
|
Saba Capital CEF Opportunities 1, Ltd. |
|
Cayman Islands |
|
Saba Capital CEF Opportunities 2, Ltd. |
|
Cayman Islands |
|
Saba Capital CEF Special Opportunities Master Fund 2, Ltd. |
|
Cayman Islands |
|
Saba Capital Income & Opportunities Fund II |
|
United States |
|
Stone Ridge Archimedes Sub-Master (Red) LP |
|
United States |
|
Saba Capital Master Fund, Ltd. |
|
Cayman Islands |
5. Date on which the threshold was crossed or reached
27-Jun-2025
6. Date on which Issuer notified
30-Jun-2025
7. Total positions of person(s) subject to the notification obligation
|
% of voting rights attached to shares (total of 8.A) |
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2) |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer |
|
|
Resulting situation on the date on which threshold was crossed or reached |
0.000000 |
4.149492 |
4.149492 |
9179529 |
|
Position of previous notification (if applicable) |
0.000000 |
5.097566 |
5.097566 |
|
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
|
Class/Type of shares ISIN code(if possible) |
Number of direct voting rights (DTR5.1) |
Number of indirect voting rights (DTR5.2.1) |
% of direct voting rights (DTR5.1) |
% of indirect voting rights (DTR5.2.1) |
|
GB00BNXGHS27 |
0 |
0 |
0.000000 |
0.000000 |
|
Sub Total 8.A |
0 |
0.000000% |
||
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Number of voting rights that may be acquired if the instrument is exercised/converted |
% of voting rights |
|
|
|
|
|
|
|
Sub Total 8.B1 |
|
|
|
|
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Physical or cash settlement |
Number of voting rights |
% of voting rights |
|
Total Return Swap |
11/28/2025 |
|
Cash |
9179529 |
4.149492 |
|
Sub Total 8.B2 |
|
9179529 |
4.149492% |
||
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
|
Ultimate controlling person |
Name of controlled undertaking |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
|
Boaz Weinstein |
Saba Capital Management GP, LLC |
|
|
|
|
Saba Capital Management GP, LLC |
Saba Capital Management, L.P. |
|
|
4.149492% |
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
30-Jun-2025
13. Place Of Completion
New York