(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - Workspace Group PLC on Thursday acknowledged Saba Capital Management LP's letter calling for an overhaul of its board, as it expressed optimism around its recently announced strategy. Read More
(Alliance News) - Saba Capital Management LP on Wednesday successfully appointed its four nominees to the board of Impax Environmental Markets PLC, after it earlier in the day moved towards the replacement of non-executive directors at Workspace Group PLC. Read More
(Alliance News) - Saba Capital Management LP is expected to appoint four nominees to the board of Impax Environmental Markets PLC on Wednesday, as it also moved toward the replacement of non-executive directors at Workspace Group PLC. Read More
Impax Environmental Markets PLC - London-based investor of companies mitigating environmental risks - Notes that leading independent proxy advisers have recommended that shareholders vote in favour of the resolutions to re‑elect the current board at the annual general meeting on June 17 and against the Saba resolutions. Saba wants to replace the board with its nominees at the requisitioned general meeting to be held immediately after the AGM. IEM considers that continuing shareholders deserve a truly "independent and appropriately experienced" board that acts for all shareholders. In It believes the current directors remain best placed to provide this. By contrast, a Saba‑nominated Board presents an "uncertain outcome", it says. Therefore reiterates its unanimous recommendation that shareholders vote in favour of its re‑election and against Saba's resolutions to remove the board. "We welcome the recommendation from the leading proxy advisers, which supports the Board's clear view that shareholders are best served by a truly independent and appropriately experienced Board acting in the interests of all shareholders," says IEM Chair Glen Suarez. Read More
(Alliance News) - Impax Environmental Markets PLC on Friday said it is unable to recommend the appointment of Saba Capital Management LP's nominated directors. Read More
(Alliance News) - Impax Environmental Markets PLC on Friday reported the realisation of all assets in its tender pool, following last month's exit tender. Read More
(Alliance News) - Impax Environmental Markets PLC on Friday advised shareholders "take no action", as it noted a meeting requisitioned on behalf of activist investor Saba Capital Management LP. Read More
(Correction clarifies that Saba's letter was sent to the board of IEM, not to shareholders as previously stated.) Read More
(Alliance News) - Saba Capital Management LP on Tuesday called for the board of Impax Environmental Markets PLC to resign after 78% of IEM shares were tendered under the company's exit tender offer. Read More
Impax Environmental Markets PLC - London-based trust investing in companies enabling the cleaner delivery of basic needs or mitigating environmental risks such as pollution and climate change - Says 148.2 million shares were tendered in its exit offer, representing around 78% of shares in issue. Company believes activist investor Saba Capital Management LP has tendered the majority, if not all, of its stake. Tender price to be announced by end of May following asset realisation. Read More
(Alliance News) - Impax Environmental Markets PLC on Thursday said shareholders have approved its proposed exit tender offer, dealing a blow to majority shareholder Saba Capital Management LP. Read More
(Alliance News) - Impax Environmental Markets PLC on Monday announced a broadly unchanged net asset value per share in 2025, as it urged shareholders to back plans for an exit tender offer. Read More
(Alliance News) - London stocks were called to open lower on Monday, as the Iran war continues, while in UK company news, Burford Capital called a US appeals court decision on Argentina's nationalisation of oil company YPF in 2012 "very disappointing". Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Correcting that Saba rejected EWIT's merger proposal with Baillie Gifford US Growth Trust, and not the contrary) Read More
(Alliance News) - Edinburgh Worldwide Investment Trust PLC on Tuesday announced it is urging shareholders to vote for a proposal to implement a 100% tender offer, saying that Saba Capital Management LP left it no alternative. Read More
(Alliance News) - The Association of Investment Companies on Friday called on Saba Capital to do "the decent thing" and accept Impax Environment Market's tender offer following the public fallout between the American hedge fund and the investment trust. Read More
(Alliance News) - Impax Environmental Markets PLC Chair Glen Suarez on Friday said he's willing to put his listed GBP811 million environmental trust on the line by putting forward an exit tender offer if Saba Capital's management rejects the proposal of the continuation tender offer. Read More