Saba Capital requests board changes at Baillie Gifford US Growth Trust

(Sharecast News) - Baillie Gifford US Growth Trust urged its shareholders to take no action on Monday after activist investor Saba Capital issued a requisition notice to have three directors of its choosing appointed at the upcoming annual general meeting. New York-based Saba, which is run by Boaz Weinstein and has a 29% stake in the trust, has requested that it appoint Jason Chen, Thomas H. McGlade and James Waterlow as directors of the company.

"The board recommends that shareholders take no action at this time and await a further announcement from the company in due course," the trust said in a very brief statement.

See latest RNS on Investegate