Sparks - Edinburgh Worldwide Investment Trust

Edinburgh Worldwide Investment Trust announced on 9 January that Glass Lewis has recommended shareholders vote against all resolutions proposed by activist investor Saba Capital Management. This follows a similar recommendation from ISS, meaning both leading independent proxy advisers now oppose Saba’s proposals ahead of a requisitioned general meeting on 20 January.

What’s going on here?

Glass Lewis and ISS have both recommended shareholders reject Saba’s resolutions at the forthcoming vote. Legal & General has publicly declared its intention to vote against the activist’s proposals, adding institutional weight to the board’s defence. Chair Jonathan Simpson-Dent said, ‘we are pleased to note the conclusions of Glass Lewis and ISS who both recommend that shareholders vote against all of Saba’s resolutions.’

Why should I care?

It is important for Edinburgh Worldwide’s shareholders to vote ahead of the January 2026 general meeting, no matter how large or small their shareholding as they will determine the future of their company. Proxy voting deadlines begin as early as 12 January, with the final deadline at 12 noon on 17 January.