CQS Natural Resources Growth & Income trust (CYN) has entered into a “standstill agreement” with activist investor Saba Capital and will conduct a tender offer for up to 100% of its issued share capital.
In a stock exchange notice today (28 May), the trust said that, following its tender offer and subject to the passing of resolutions, it will adopt an "enhanced" annual dividend of around 8% and will cut its investment management fees by 20 basis points. CQS Natural Resources Growth and Income strategic review results delayed as Saba situation lingers CYN explained the agreement with Saba will provide shareholders with the option to take a full cash exit or remain invested in the strategy with an enhanced dividend and lower fee. The tender offer will be available to eligible shareh...
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