It has been reported that ISS, the proxy advisory firm that provides independent research and voting recommendations to institutional investors, has recommended that shareholders vote against the re-election of two of Workspace Group’s (WKP’s) incumbent non-executive directors, Nick Mackenzie and David Stevenson, and instead vote in favour of the appointment of two new non-executive directors […]
This week, I attended a capital markets event at the London Stock Exchange to celebrate the 25th anniversary of Patria Private Equity Trust (PPET). For those less familiar with it, PPET aims to deliver long-term total returns by giving shareholders access to a diversified portfolio of private equity-backed companies, most of which are focused on […]
Apologies, Aberdeen issued a press release on 7 May 2026 that said the standstill agreement that it had come to with Saba in respect of Herald might also cover up to a further eight investment trusts in Aberdeen’s range – and we missed the story, hence we are correcting this now. We spotted the potential […]
British Land (BLND) has released an upbeat set of annual results, with record leasing activity across its campuses portfolio and continued momentum in retail parks helping to drive rental growth, higher earnings and a more confident outlook from management. Underlying profit for the year to 31 March 2026 rose 5% to £294m, while underlying EPS […]
Schroder UK Mid Cap Fund plc has reached an agreement with activist investor Saba Capital that appears to draw a line under the threat of a prolonged campaign against the trust. The company is proposing a tender offer for up to 100% of the share capital at NAV less costs, giving shareholders the option of […]
Impax Environmental Markets (IEM) has completed its exit tender offer, repurchasing just over 148.2m shares, all of which will be cancelled. As previously announced, the scale of the tender – which was designed to give shareholders the opportunity to exit and avoid being trapped in a vehicle controlled by Saba Capital – dramatically shrinks the […]
A welcome revival of a long dormant structure It is no secret that the UK investment companies market has been shrinking for the past three years, with new capital raising proving difficult – if not impossible – in most cases. However, news of a Seraphim C share issue is injecting life into the investment companies […]
Metage Capital has published a fresh open letter to the board of Pantheon International (PIN), accusing the company of failing to respond adequately to concerns raised in December over performance, capital allocation and the persistent discount to net asset value (NAV) – click here to read. Metage said Pantheon has had several opportunities to address […]
The UK government has unveiled a broad package of energy reforms aimed at reducing the influence of volatile gas prices on electricity bills, alongside fresh support for clean power, grid investment and electrification. The measures come as renewed geopolitical tensions and disruption in the Middle East have once again exposed the UK’s reliance on international […]
Impax Environmental Markets (IEM) has responded to the statement from Saba Capital yesterday that it holds 29.9% of the trust, saying that IEM’s tender offer remains on track, allowing shareholders who elected to tender to exit close to NAV. IEM’s board has reiterated that Saba did not confirm its tender elections ahead of the deadline, […]
