(Alliance News) - European Smaller Cos Trust PLC on Tuesday confirmed the value of its tender offer for shareholders who subscribed for a cash exit back in May. Read More
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday. Read More
(Alliance News) - London's FTSE 100 is called to open lower at the start of the week, but looks set to avoid a deeper sell-off, in the wake of the US striking Iranian nuclear targets. Read More
European Smaller Cos Trust PLC - invests in smaller and medium sized companies listed in Europe or that have operations there - Says its tender offer closed with 166.1 million shares tendered for sale back to the company, representing around 42% of its total. Of these, 115.4 million shares were tendered for in-specie consideration and 50.7 million under the cash exit option. The offer was under-subscribed, so all validly tendered shares will be purchased, the trust says. Asset transfers and payments will begin from May 27, with the final cash exit price to be announced following realisation of assets. Read More
European Smaller Cos Trust PLC - managed by Janus Henderson, invests in smaller European firms for capital growth - Calls general meeting for May 7 to approve a tender offer for up to 42.5% of its shares. European Smaller Cos has a market capitalisation of GBP721.5 million, so the tender offer is worth just over GBP300 million. Transaction costs, excluding portfolio realisation costs and stamp duty, will be up to GBP690,000. The plan to buy back shares follows "constructive negotiations" between the trust's board and Saba Capital Management LP. The US activistic investor enters a standstill agreement with European Smaller Cos as a result of the tender offer. Saba will tender 115.4 million shares that it owns in European Smaller Cos, worth about GBP211.4 million. Read More
(Alliance News) - Stock prices in London opened higher on Tuesday, following news that UK unemployment held steady on-quarter, while in the US Donald Trump has floated the possibility of temporary tariff exemptions for the motor industry. Read More
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - Edinburgh Worldwide Investment Trust PLC on Friday said none of the resolutions proposed by Saba Capital Management LP were passed at a requisitioned board meeting. Read More
European Smaller Cos Trust PLC - London-based investor in smaller European firms - Says Saba Capital Management LP has agreed to withdraw its second requisition notice to call a general meeting for 30 days. Says it has "engaged in constructive discussions" with Saba. The pause will allow the two companies to enter "good-faith negotiations" to find a resolution that benefits all shareholders, it says. Read More
(Alliance News) - Middlefield Canadian Income PCC on Thursday advises shareholders to take "no action at this time", in response to Saba Capital Management LP's requisitioning of a general meeting. Read More
(Alliance News) - Saba Capital Management LP on Monday said it intends to requisition general meetings at four trusts, targeting proposals for liquidity at net asset value and the transition of the trusts to open-ended funds. Read More
(Correcting erroneous fund manager citation) Read More
(Alliance News) - European Smaller Companies Trust PLC on Tuesday said an independent advisor supported the board's opposition to Saba Capital Management LP's plans for a board reshuffle. Read More
(Alliance News) - Industry governance experts on Friday called on shareholders in several investment trusts to vote against plans proposed by US hedge fund Saba Capital Management LP. Read More
(Alliance News) - Edinburgh Worldwide Investment Trust PLC on Monday called on investors to reject plans by Saba Capital Management LP as it reported a rise in net asset value. Read More
(Alliance News) - The FTSE 100 was called to open down on Monday morning, ahead of Donald Trump's first day as 47th US president. Read More
(Alliance News) - Saba Capital Management LP on Monday addressed "misleading" claims as it continues to push for management change at seven investment trusts. Read More