Baillie Gifford US Growth Trust plc
(USA)
18 December 2024
Baillie Gifford US Growth Trust plc
(USA)
Legal Entity
Identifier: 213800UM1OUWXZPKE539
Notice of Requisition of a General
Meeting
The Board of Baillie Gifford US Growth Trust
plc (the "Company")
announces that it has today received from Barclays Capital
Securities Client Nominee Limited, in its capacity as nominee on
behalf of Saba Capital Management, L.P. ("Saba"), a requisition to convene a
general meeting of shareholders (the "Requisition").
Shareholders are advised to take no
action at this time.
In summary, the Requisition proposes that
shareholders be asked to consider a number of ordinary resolutions
on a poll:
(i) to
reduce the minimum number of directors (disregarding alternate
directors), pursuant to article 106 of the articles of association
of the Company, to be not less than two;
(ii) to remove
Tom Burnet, Sue Inglis, Graham Paterson, Rachael Palmer and Chris
van der Kuyl as directors of the Company pursuant to section 168(1)
of the Companies Act 2006 (the "Act") with effect from the end of the
general meeting; and
(iii) to appoint Boaz
Weinstein (founder and Chief Investment Officer of Saba) and Miriam
Khasidy as directors of the Company with effect from the end of the
general meeting.
The Board considers these proposals to be
fundamentally without merit, and in contravention of shareholder
interests as a whole.
A further announcement will be made in due
course by the Company accordingly, relating to the posting of a
notice of a general meeting and an accompanying circular in which
the Board will set out its response in full.
Enquiries:
Company
Tom Burnet
c/o Burson Buchanan
henry.wilson@buchanancomms.co.uk
+44 (0)20 7466 5000
Panmure
Liberum Limited
Alex Collins / Michael Janes
info@panmureliberum.com
+44 (0)20 3100 2000
Burson
Buchanan
Henry Wilson / Helen Tarbet
henry.wilson@buchanancomms.co.uk
+44 (0)20 7466 5000
Company
Secretary
Baillie Gifford & Co Limited, Company
Secretary
trustenquiries@bailliegifford.com
+44 (0)800 917 2112