India, July 9 -- Flexible office-space provider Workspace Group Plc (WKP.L) on Thursday urged shareholders to vote in favor of all board-backed resolutions and also reject proposals from activist investor Saba Capital Management ahead of its annual general meeting on July 23.
Earlier this year, Saba, a major shareholder in Workspace, called for a managed wind-down of the company through asset sales and the return of capital to shareholders. Saba argued that the stock was trading at a persistent 45% discount to its net asset value (NAV).
Workspace rejected the proposal in May, calling it unrealistic and value-destructive. Saba, which has since raised its stake to more than 28%, subsequently sought a shareholder vote to replace several non-...