BG US Growth's result of AGM on 23 October 2026 shows 52.8% of votes cast against each of Saba's three resolutions, below the 60% the market needed; no whitelist media report was found, so the company's own announcement settles it.
History. 6 of 9 votes had more than 60% against: Herald, Keystone, BG US Growth, Henderson, European Smaller Companies and Edinburgh Worldwide in 2025. Below were CQS (about 59%), Edinburgh Worldwide in January 2026 (53.2%) and its April 2026 meeting (about 37%). Alliance Trust had no vote.
Hunch. At Edinburgh Worldwide the vote for Saba rose with every try, from about 36% to 47% to 63%, and this is Saba's second try at BG US Growth (Edinburgh Worldwide RNS, 20 Jan and 30 Apr 2026).
The margin market resolves on the same announcement: YES if each of resolutions 1 to 3 has more than 60% of votes cast against, not counting abstentions. Exactly 60.00% resolves NO. If the resolutions are withdrawn before the vote, the market is void.
We looked for cases where an activist with a large stake in an investment trust, but less than half, put its own people up for the board at a set meeting, and the board and the manager were against. We found ten, nine of them Saba's, from 2015 to 2026. The activist got seats in two.