US activist investor Saba Capital Management has put forward plans to replace the board of Baillie Gifford US Growth (USA) for a third time, by putting forward three nominees.
The Boaz Weinstein-led hedge fund has selected Jason Chen, Thomas H. McGlade and James Waterlow as its nominees for directors of the company, according to a stock exchange notice yesterday (24 August). As per the requisition notice, the proposed ordinary resolutions to elect the three candidates are intended to be on the ballot at USA's forthcoming annual general meeting in November. "The board recommends that shareholders take no action at this time and await a further announcement from the company in due course," the USA board stated. Saba has since stated: "Over the past five ye...
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