Agreement with Saba

Aberdeen New India Investment Trust

03 August 2026

 

Aberdeen New India Investment Trust plc

Legal Entity Identifier (LEI): 549300D2AW66WYEVKF02

Agreement with Saba

3 August 2026

Further to the announcement by Aberdeen Group plc on Thursday 7 May 2026, the Board of Aberdeen New India Investment Trust PLC (the "Company") announces that it has today entered into a three-year agreement with abrdn Fund Managers Limited ("aFML") and Saba Capital Management L.P. ("Saba") (the "Agreement").  

Under the Agreement, Saba has given a number of undertakings to the Company, including as set out below:  

-           Saba will not put forward any proposals to shareholders or requisition any resolution or general meeting of the Company;

-           Saba will not seek to change the composition of the Board;

-           Saba will not seek to control or influence the Board or Company or the policies or management of the Company;

-           Saba will not vote against the recommendation of the Board on any resolution put to a general meeting of the Company's shareholders; and

-           Saba will not engage, directly or indirectly, in any short selling of the Company's shares;

in each case for a period lasting until the earlier of (a) conclusion of the Company's 2029 annual general meeting of shareholders or (b) the date abrdn Fund Managers Limited ceases to be appointed as the Company's alternative investment fund manager.

The Agreement does not restrict or prohibit Saba's ability to vote in favour of or accept any takeover offer for the Company, nor does it restrict Saba's ability to deal in Shares (other than in any short selling).

For further information, please contact:

abrdn Holdings Limited

[e-mail]

 

END