Agreement with Saba
Summary by AI BETAClose X
Murray International Trust PLC
Legal Entity Identifier (LEI): 549300BP77JO5Y8LM553
Agreement with Saba
3 August 2026
Further to the announcement by Aberdeen Group plc ("Aberdeen") on Thursday 7 May 2026, the Board of Murray International Trust PLC (the "Company") announces that it has today entered into an agreement with abrdn Fund Managers Ltd ("aFML") and Saba Capital Management L.P. ("Saba") ("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 use best endeavours to procure that shares it controls are not voted 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 aFML 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).
Saba's offer to enter into the Agreement with the Company is a result of separate arrangements between Aberdeen and Saba, to which the Company is not party. While Aberdeen has done so, the Company has given no monetary consideration to Saba or any of its affiliates in return for the benefits outlined above, and such benefits do not restrict the Board's or the Company's independence in any way.
The Board is committed at all times to exercising the highest standards of corporate governance, promoting the success of the Company and putting first the interests of shareholders as a whole.
For further information, please contact:
abrdn Holdings Limited
cef.cosec@aberdeenplc.com
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