Saba strikes exit deal with CQS Natural Resources Growth & Income Trust

CQS Natural Resources announces tender offer after Saba engagement

CQS Natural Resources Growth and Income has proposed a tender offer of up to 100% of its shares following talks with activist investor Saba Capital. The investment trust’s board has offered its investors a choice between remaining invested in the trust, with an enhanced dividend and lower management fees, or exiting through the tender offer. Saba has applied pressure to the CQS board in recent months, calling two requisitions before the board im…

Saba strikes exit deal with CQS Natural Resources Growth & Income Trust

Saba Capital Management has reached a deal with CQS Natural Resources Growth & Income Trust (CYN) that will see the £74m closed-end fund offer a 100% tender at net asset value, following a period of shareholder engagement led by the US activist hedge fund. The agreement, announced ion na press statement, marks the fifth success this year in Saba’s ongoing activist campaign targeting UK investment trusts trading at steep discounts to NAV. Under t…

CQS Natural Resources Growth and Income – Strategic review leads to tender offer and shareholder-friendly changes

CQS Natural Resources Growth and Income (CYN) has announced the results of a wide-ranging strategic review, unveiling a proposed 100% tender offer alongside a package of initiatives designed to enhance long-term shareholder value. Investors will be offered the flexibility to exit the trust in full or remain invested under improved terms that include a significantly […]