Highlights Four Highly Qualified and Independent Nominees Who Will Replace Incumbent Trustees on the 11-Member Board
Notes Saba-Nominated Trustees Will Constitute a Majority of the Board Following Certified Results
Saba Capital Management, L.P. (collectively with its affiliates, “Saba” or “we”), a significant shareholder of the Templeton Global Income Fund (NYSE: GIM) (“GIM” or the “Fund”), today commented on the preliminary results of the Fund’s 2022 Annual Meeting of Shareholders (the “Annual Meeting”). Based on the preliminary voting results provided by Saba’s proxy solicitor, shareholders have voted to elect all four of Saba’s nominees – Karen Caldwell, Ketu Desai, Anatoly Nakum and Mark Hammitt – to the Fund’s Board of Trustees (the “Board”). Saba-nominated trustees will now constitute a majority of the 11-member Board, building on the prior election of four Saba nominees to the Board in 2021.
Boaz Weinstein, Founder and Chief Investment Officer at Saba, said:
“We are pleased that our fellow GIM investors recognize the need to reset the direction of the Fund through the election of all of Saba’s independent and qualified trustees. We are confident that this is the right step forward on the path to narrowing GIM’s discount to NAV and creating value for all GIM shareholders.”
Final results of the Annual Meeting will be published by the Fund once they are certified by the Fund’s inspector of elections.
About Saba Capital
Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of institutional clients. The firm, which is a pioneer of credit relative value and capital structure trading, currently invests across four core strategies: Credit Relative Value, Tail Hedge, SPACs and Closed-End Funds. Founded in 2009 by Boaz Weinstein, Saba is privately held by its partnership and headquartered in New York City. Learn more at www.sabacapital.com.