TRG Pakistan tender offer deadline extended amid ongoing legal battle

Saba Capital to exit ESCT through tender offer

Saba Capital is set to exit its position in The European Smaller Companies Trust (ESCT) after an agreement with the investment trust’s board. The trust will launch a tender offer for up to 42.5% of its shares in issue. As part of the deal, Saba will tender its 115,386,122 shares in the trust. Meanwhile, the two parties have signed a standstill agreement, meaning Saba will be unable to requisition the ESCT board again until after the next AGM in …

TRG Pakistan tender offer deadline extended amid ongoing legal battle

Amid ongoing legal proceedings, the public acceptance period for PSX-listed Greentree Holdings’ tender offer for TRG Pakistan has been extended till April 25. AKD Securities, acting as manager to the offer on behalf of Greentree Holdings, confirmed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday. “AKD Securities Limited acting as manager to the offer on behalf of the acquirer has been endorsed to further extend the …

European Smaller to shrink dramatically as it strikes deal with Saba - QuotedData

European Smaller Companies Trust will offer shareholders on the register at 6pm tomorrow the chance to participate in a 42.5% tender offer. Saba is committed to support the idea and submit all of its shares to the tender offer. In exchange, Saba has also committed not to requisition another meeting, vote against directors or publicly …