LONDON - Advisory firms Glass Lewis (JO:LEWJ) and ISS have recommended that shareholders of Henderson Opportunities Trust plc vote against all proposed resolutions at the upcoming Requisitioned General Meeting on February 4, 2025. This advice aligns with the Henderson Trust's fully independent Board, which has previously advised shareholders to vote against the resolutions.
The Board highlights the recommendations from Glass Lewis and ISS, emphasizing that the proposed resolutions by Saba are not in the best interest of shareholders. Glass Lewis expressed skepticism about Saba's ability to provide shareholders with "the opportunity to achieve substantial liquidity near NAV," questioning if it is superior to the current board's evaluation.
Wendy Colquhoun, Chairman of Henderson Opportunities Trust plc, welcomed the support from the proxy advisors and reiterated the Board's position that Saba's resolutions could pose unnecessary risks to shareholder investments. Colquhoun urged shareholders to vote to prevent Saba from potentially taking control of the company without clear assurances on the future of their investments.
The Board believes it is crucial for shareholders to vote against the resolutions to protect their interests. Saba currently holds a 28.4% interest in the company's issued share capital. Other shareholders representing at least 30% of the capital are needed to vote against the resolutions to prevent Saba's influence.
The Board encourages shareholders, especially those holding shares through investment platforms or nominee services, to contact their providers promptly to ensure their votes are counted. Shareholders seeking assistance are directed to email for more information.
The outcome of the vote at the Requisitioned General Meeting will determine whether Saba's resolutions will be adopted. The Board's unanimous recommendation to vote against these resolutions is based on the press release statement issued by Henderson Opportunities Trust plc.
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