Saba Capital Nominates Candidates to the Board of Templeton Global
December 29, 2020 at 04:29 pm EST
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On December 29, 2020, Saba Capital Management, L.P. stated that on December 29, 2019, it submitted to Templeton Global Income Fund a notice informing the Company of its intention to (i) present a proposal seeking to amend the by-laws of the Company to include a provision to permit and/or require certain actions that shall occur in the event that following the initial public offering of the Company’s common shares, the common shares are trading at a specified discount to net asset value, including under certain circumstances specifying that the Company commence a tender offer to purchase 20% of the Company’s outstanding shares, and (ii) nominate a slate of 4 independent trustee candidates: Aditya Bindal, Frederic Gabriel, Paul Kazarian, and Pierre Weinstein, for election to the board at the Company’s 2021 annual meeting of shareholders.
Saba Capital Income & Opportunities Fund II (the Fund), formerly Templeton Global Income Fund, is a closed-end management investment company. The Fund seeks to provide investors with a high level of current income, with a secondary goal of capital appreciation. The Fund invests globally in debt and equity securities of public and private companies, which includes, among other things, investments in closed-end funds, special purpose acquisition companies (SPACs), reinsurance, and public and private debt instruments. The Fund also may utilize derivatives, including total return swaps, credit default swaps, options and futures, in seeking to enhance returns and/or to reduce portfolio risk. The Fund may also invest up to 15% of its total assets in private funds on a discretionary basis. The Fundâs manager is Saba Capital Management, LP.
SABA CAPITAL INCOME & OPPORTUNITIES FUND II 
