(Alliance News) - Edinburgh Worldwide Investment Trust PLC on Friday confirmed its intention to provide exit opportunities for shareholders who wish to realise their investment following the company's annual general meeting.
The investment firm confirmed that, should shareholders vote in favour of the current independent board at the AGM next Thursday, and reject Saba Capital Management LP's third attempt to take control of the company, it will propose a tender offer of 50% of the company's issued share capital at net asset value less costs. The tender would be proposed as soon as practicable following the AGM.
Recognising the importance of SpaceX, EWIT committed to a second tender offer, expected to be for up to 100% of the company's share capital, following any initial public offer of SpaceX.
"This would enable investors to benefit from any valuation uplift that may crystallise as a result of such an IPO," it said.
Chair Jonathan Simpson-Dent accepted that while there has been "huge support for EWIT's unique investment mandate", there are a "small number of large investors who have very different objectives."
"Offering these two tender proposals gives shareholders a clear choice that solves for two clearly divergent sets of objectives whilst retaining this exciting investment strategy for the future," he said.
He urged shareholders to back the proposals.
"A clear vote against Saba will reaffirm support for the company's strategy, while still providing those seeking liquidity with a full exit opportunity after the AGM," he said.
A previous tender offer proposed by EWIT was rejected by shareholders.
On Monday, Saba said it would submit itself for consideration as the next investment manager of EWIT, should the trust's board be replaced at its AGM.
By Jeremy Cutler, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.



