On 12 February 2025, the board of Schroder UK Mid Cap Fund announced that it had received a requisition notice from a nominee acting on the instructions of Jefferies LLC, a prime broker acting on behalf of Saba Capital Management, L.P.

Following a review of the requisition, in conjunction with the company’s registrars and subsequent engagement with Saba, all parties have agreed that the requisition notice is invalid because the named nominee was not the registered holder of sufficient shares on the date of the requisition notice for it to be compliant with the provisions of section 303 of the Companies Act 2006.

Shareholders should be aware that the board believes that Saba is now the registered holder of sufficient shares such that it could submit a new requisition that would be compliant with the provisions of section 303 of the Companies Act 2006 if Saba chooses to do so.

SCP : Saba’s Schroder UK Mid Cap requisition was invalid