**Summary**
Edinburgh Worldwide Investment Trust plc (EWIT) has issued a circular urging shareholders to vote against proposals by Saba Capital Management, L.P. at a Requisitioned General Meeting scheduled for January 20, 2026. Saba seeks to remove the current Board and replace it with its own nominees, effectively taking control of the company. The Board strongly recommends shareholders vote against Sabas resolutions by January 17, 2026, emphasizing the risk to EWITs unique investment strategy and shareholder value.
Key points include
1. **Sabas Intentions**Saba aims to gain control of EWIT, potentially prioritizing its own interests over those of other shareholders. Previous attempts by Saba were rejected by 98.4% of voters in February 2025.
2. **Boards Concerns**The Board argues that Sabas nominee directors would not be independent and that Saba has not disclosed its plans if it gains control. There are fears Saba may appoint itself as investment manager, altering EWITs strategy for its financial benefit.
3. **EWITs Performance**Under new leadership, EWIT has delivered strong performance, with a 20.5% NAV total return over the last 12 months, outperforming its benchmark. The Boards policies, including an enhanced share buy-back program, have narrowed the discount to NAV.
4. **Shareholder Action**Shareholders are urged to vote against Sabas resolutions to protect EWITs independence and investment strategy. Failure to vote could result in Saba gaining control, given its increased shareholding since the last attempt.
5. **Deadline**Votes must be cast by 12:00 noon on January 17, 2026, with some platforms having earlier deadlines.
The Board, led by Chair Jonathan Simpson-Dent, emphasizes the importance of shareholder turnout to safeguard EWITs future and unique investment proposition.