{"id":597173,"date":"2025-11-27T13:04:12","date_gmt":"2025-11-27T13:04:12","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/597173\/"},"modified":"2025-11-27T13:04:12","modified_gmt":"2025-11-27T13:04:12","slug":"saba-capital-lodges-second-attempt-to-replace-edinburgh-worldwide-board","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/597173\/","title":{"rendered":"Saba Capital lodges second attempt to replace Edinburgh Worldwide board"},"content":{"rendered":"

Saba Capital has made a second attempt to replace the board of Edinburgh Worldwide investment trust.<\/p>\n

In an open letter to the board, Saba founder and CIO Boaz Weinstein called for an EGM to vote on replacing the entire board.<\/p>\n

In its place, Saba is seeking to appoint a new board composed solely of qualified, independent directors.<\/p>\n

See also: \u00a31.6bn Smithson to ditch investment trust status for OEIC structure<\/a><\/strong><\/p>\n

The US hedge fund owns approximately 30% of Edinburgh Worldwide\u2019s shares.<\/p>\n

Weinstein said the firm had been \u201cprofoundly disappointed\u201d by the trust\u2019s share price performance for some time. <\/p>\n

Over the past five years, the trust\u2019s net asset value is down 30.8%, while its share price has fallen 35%. The average AIC Global Smaller Companies sector trust has risen 5% over the same period.<\/p>\n

\u201cWe do not have faith in the current board\u2019s ability to implement the necessary strategic changes. As the company\u2019s largest shareholder, we feel a\u00a0duty\u00a0to our fellow shareholders to drive this essential change,\u201d Weinstein said.<\/p>\n

Shareholders rejected Saba\u2019s previous attempt <\/a>to replace the board in February. Of the shares voted at the time, 63.8% rejected Saba\u2019s proposals. Excluding the votes casted by Saba, 98.4% of shares voted against the changes.<\/p>\n

Edinburgh Worldwide has been contacted for comment. <\/p>\n

See also: Saba Capital launches campaign to replace seven investment trust boards<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Saba Capital has made a second attempt to replace the board of Edinburgh Worldwide investment trust. In an…\n","protected":false},"author":2,"featured_media":597174,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8816],"tags":[187669,748,1102,4884,6994,187670,712,16,15],"class_list":{"0":"post-597173","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-edinburgh","8":"tag-boaz-weinstein","9":"tag-britain","10":"tag-edinburgh","11":"tag-great-britain","12":"tag-saba","13":"tag-saba-capital","14":"tag-scotland","15":"tag-uk","16":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115621807103845447","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/597173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=597173"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/597173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/597174"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=597173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=597173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=597173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}