Workspace tells shareholders to 'take no action' over latest Saba push

(Sharecast News) - Workspace Group said on Thursday that it was reviewing a letter and accompanying presentation from Saba Capital Management, after the activist investor urged shareholders to back its proposed board nominees and value creation plan. The FTSE 250 flexible office provider said its board continued to believe in the strength of the strategy announced alongside full-year results on 10 June, which it said was designed to maximise long-term sustainable value for all shareholders.

However, it said it welcomed shareholder views and was reviewing Saba's materials with its advisers.

Workspace said its annual general meeting notice would be posted to shareholders on 19 June, and that a full response to Saba's letter and presentation would be issued in due course.

Shareholders were advised to take no action at this stage.

At 1114 BST, shares in Workspace Group were down 0.11% at 348.2p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate