Notice of Requisition of a General Meeting

Baillie Gifford US Growth Trust PLC

18 December 2024

 

Baillie Gifford US Growth Trust plc (USA)

18 December 2024  

Baillie Gifford US Growth Trust plc (USA)

Legal Entity Identifier: 213800UM1OUWXZPKE539

Notice of Requisition of a General Meeting  

The Board of Baillie Gifford US Growth Trust plc (the "Company") announces that it has today received from Barclays Capital Securities Client Nominee Limited, in its capacity as nominee on behalf of Saba Capital Management, L.P. ("Saba"), a requisition to convene a general meeting of shareholders (the "Requisition").

Shareholders are advised to take no action at this time.

In summary, the Requisition proposes that shareholders be asked to consider a number of ordinary resolutions on a poll:

(i)       to reduce the minimum number of directors (disregarding alternate directors), pursuant to article 106 of the articles of association of the Company, to be not less than two;

(ii)      to remove Tom Burnet, Sue Inglis, Graham Paterson, Rachael Palmer and Chris van der Kuyl as directors of the Company pursuant to section 168(1) of the Companies Act 2006 (the "Act") with effect from the end of the general meeting; and

(iii)     to appoint Boaz Weinstein (founder and Chief Investment Officer of Saba) and Miriam Khasidy as directors of the Company with effect from the end of the general meeting.

The Board considers these proposals to be fundamentally without merit, and in contravention of shareholder interests as a whole.  

A further announcement will be made in due course by the Company accordingly, relating to the posting of a notice of a general meeting and an accompanying circular in which the Board will set out its response in full.

Enquiries:

Company  

Tom Burnet

c/o Burson Buchanan

[e-mail]
[phone]

Panmure Liberum Limited

Alex Collins / Michael Janes
[e-mail]

[phone]

Burson Buchanan

Henry Wilson / Helen Tarbet

[e-mail]
[phone]

Company Secretary

Baillie Gifford & Co Limited, Company Secretary

[e-mail]

[phone]

 

END