On June 30, 2022, Saba Capital Management, L.P. commented on the results of Templeton Global Income FundÃs inspector of electionsà review of the voting results of the FundÃs 2022 annual meeting of shareholders. Following Franklin TempletonÃs demand for a review, the inspector of elections has reaffirmed shareholdersà vote for SabaÃs full slate of nominees: Karen Caldwell, Ketu Desai, Anatoly Nakum and Mark Hammitt, to the FundÃs Board of Trustees. Saba Capital stated that shareholders first voted to elect all of SabaÃs nominees at the annual meeting held on June 6, 2022, according to preliminary voting results.
Saba Capital expressed that this is a win for all the Company shareholders: the inspector of elections' review reaffirmed shareholdersà vote for all of Saba CapitalÃs nominees to the Company Board. Franklin Templeton appears more focused on clinging to boardroom control and generating management fees than on shareholdersà interests. Saba Capital stated that it has been nearly nine years since GIM traded at or above its NAV for even a single day, and yet Franklin Templeton is now using litigation to obstruct Saba trusteesà efforts to narrow the discount to NAV and create value for shareholders.
In addition, Saba Capital it looks forward to the CourtÃs expedited ruling so that these results can be certified, and Saba nominees can be appointed to their rightful seats on the Board.