EWIT response to Saba Capital's last announcement

Edinburgh Worldwide Inv Trust PLC

31 March 2026

 

Edinburgh Worldwide Investment Trust plc

Legal Entity Identifier: 213800JUA8RKIDDLH380

31 March 2026

Edinburgh Worldwide's response to Saba Capital's latest announcement

The Board of Edinburgh Worldwide Investment Trust plc (the "Company" or "EWIT") is responding to Saba Capital's latest announcement regarding EWIT. Given the statement appears to be, in both tone and style, designed to confuse and mislead shareholders, the Board believes it is important to focus on two key points.

1.   Saba has no authority to mandate strategic alternatives on the Company.

Shareholders should be clear that the matters raised are the responsibility of an independent Board. Saba's latest statement promotes outcomes it cannot itself deliver and should not be presented as credible proposals. Shareholders are being asked to place trust in Saba to deliver outcomes over which it has no control and for which there is no certainty of implementation. This lack of credibility is underscored by the fact that its nominee directors have repeatedly failed to engage with shareholders - including not attending the General Meeting at which they were proposed and declining to participate in the Company's shareholder Q&A webinar on 27 March. Shareholders should be clear that these proposals form part of a continued attempt to gain control of EWIT, despite that approach having already been decisively rejected multiple times.

2.   Saba's proposals risk misleading shareholders on tax and liquidity.

Any transaction of the type proposed would be expected to give rise to capital gains tax for UK investors. Saba has provided no clarity on how its proposals would avoid this, nor any substantive detail on how they would be implemented in practice.

Jonathan Simpson-Dent, Chair of EWIT, commented:

"Shareholders should not be fooled, we have been here before. Saba continues to seek control despite shareholders having expressly rejected its proposals twice as they continue to benefit from strong results over the last two years under the Path for Growth strategy.

If Saba wants to offer superior value, it should follow established market practice and make a formal takeover offer to all shareholders, including an appropriate control premium and fair value for the Company's stake in SpaceX.

Instead, shareholders are being presented with proposals that introduce uncertainty, and which Saba itself does not have the ability to deliver. Shareholders should not be misled or distracted and focus on who they trust to deliver.

The Board strongly encourages all shareholders to have their say by voting FOR the Tender Proposal ahead of the 8 April deadline."

For further information please contact:

Investors:

Deutsche Numis

Nathan Brown

Tel: [phone]

[e-mail]

 Matt Goss

Tel: [phone]

[e-mail]

Media:

Greenbrook Advisory

Rob White / Peter Hewer

[phone]

[e-mail]  

 
Company Secretary:

Baillie Gifford & Co Limited

[e-mail]

Tel [phone]

 

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