IN BRIEF: Saba, General Atlantic ask SDCL Efficiency Income board role

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SDCL Efficiency Income Trust PLC - FTSE 250 constituent formed in 2018 to invest in energy efficiency and distributed energy assets - Calls a general meeting for October 15 for shareholders to approve the appointment of two directors proposed by its two largest shareholders. Saba Capital Management LP, the largest investor with a 27.8% stake, proposes Boaz Weinstein, its founder & chief investment officer. General Atlantic SD (Bermuda) LP, with a 16% stake, proposes Richard Pavry.

The trust says its board supports the two appointments. With the company in wind-down after shareholders backed that plan in July, representatives of its two largest investors will "bring meaningful alignment of interest with the broader shareholder base to the process", it says. When calling the vote on the wind-down back in June, SDCL Efficiency Income said it wants to sell its portfolio to a single buyer or a small number of buyers.

Current stock price: 36.20 pence for £392.9 million market capitalisation

12-month change: down 35%

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