Boards of a pair of investment trusts with a combined £133m of assets have struck deals with activist investor Saba Capital Management to prevent it from requisitioning a general meeting until at least 2028.
Golden Prospect Precious Metals (GPM) and Geiger Counter (GCL) revealed that they had entered into separate standstill agreements with the Manhattan-based hedge fund that will prevent Saba from convening a general meeting until the trusts' AGMs in 2028. Saba liquidity push bears fruit with Middlefield Canadian Income to propose rollover into active ETF Saba will also not be able to exercise its voting rights to remove or publicly proposal the removal any member of either board. The Boaz Weinstein founded hedge fund will also be restricted from voting against the recommendation of ...
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