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.
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