18 December
2024
CQS Natural Resources Growth and Income
PLC
Receipt of requisition letter to convene
a General Meeting of Shareholders
The Board of CQS Natural Resources Growth and
Income PLC (the "Company") announces that today the Company has
received a requisition notice (the "Notice") from Barclays Capital
Securities Client Nominee Limited, the nominee of Saba Capital
Management, L.P. ("Saba").
The Notice requires the Company to convene a
general meeting of shareholders, pursuant to s303 of the Companies
Act 2006 (the "Act"), to consider resolutions to remove the current
board of directors of the Company and appoint Paul Kazarian of Saba
and Marc Loughlin as new directors.
The Board considers these proposals are without
merit and remains fully committed to act in the best interests of
all shareholders.
The Directors advise shareholders to
take no action at this time
and a further announcement by the Company will follow in due
course.
For further information, please
contact:
|
CQS Natural
Resources Growth and Income PLC
Christopher Casey, Chairman
|
cnr@tavistock.co.uk
(c/o Tavistock Communications)
|
|
Cavendish, Corporate
Broker
Tunga Chigovanyika, Robert Peel, Andrew
Worne
|
+44 7908 6000
|
|
Frostrow
Capital LLP, Company Secretary
Eleanor Cranmer
|
+44 203 008 4613
cosec@frostrow.com
|
|
Tavistock, Public
Relations
Jos Simson, Gareth Tredway, Tara
Vivian-Neal
|
+44 20 7920 3150
cnr@tavistock.co.uk
|
About CQS
Natural Resources Growth and Income PLC (LSE:
CYN)
The Company actively invests in global energy
and mining companies, with a focus on total return. It also pays a
regular quarterly dividend. The flexible mandate allows the Company
to shift its portfolio weighting between energy and mining, with
the aim of maximising returns depending on the point in the cycle,
whilst providing relative value opportunities.
The closed end structure is well suited to
allowing the investment management team to focus on the best
returns profile, rather than liquidity as is the case with Exchange
Traded Funds ("ETFs"). The nature of this focus results in the
Company holding a large proportion of its holdings in names that
fall just below major index or ETF inclusion, adding additional
upside potential should they become included. The portfolio is
invested mostly in producers and developers across the natural
resources sector, with strong earnings profiles and market caps
typically in the region of £300m to £2bn, although also below and
above this range.
The majority of holdings are listed in North
America, Australia and/or the UK.