SDCL Energy Efficiency Income Trust plc (LSE:SEIT) has called a general meeting for 15 October to seek shareholder approval for the appointment of Boaz Weinstein and Richard Pavry as non-executive directors.
Weinstein and Pavry have been nominated by the investment trust’s two largest shareholders, Saba Capital Management and General Atlantic, respectively.
If approved, both would serve as non-independent non-executive directors and would not receive fees for their roles.
Governance Measures Planned for Proposed Directors
SEIT said governance arrangements are planned to address potential conflicts of interest arising from the appointments and to protect confidential information relating to asset disposals.
The proposed appointments follow the trust’s decision in July to adopt a wind-down investment objective. Under the revised approach, SEIT is seeking to realise its portfolio through an orderly sale of assets and return capital to shareholders.
The board said representation from the trust’s two largest shareholders would provide alignment during the wind-down process.
SEIT’s board has unanimously recommended that shareholders vote in favour of both appointments. Saba Capital Management and General Atlantic have also committed to vote their respective holdings in favour of both resolutions.
About SDCL Energy Efficiency Income Trust
SDCL Energy Efficiency Income Trust plc is a London-listed investment company with a portfolio of energy efficiency and decentralised energy assets.
Following the change to its investment objective, the trust is focused on the orderly realisation of its portfolio and the return of capital to shareholders.
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