Baillie Gifford US Growth Trust PlcLSE: USA

Baillie Gifford US Growth Trust: Voting Advisers Recommend Vote AGAINST Saba

Oct 12, 2026 at 9:15 AM EDT · Issued by Baillie Gifford US Growth Trust plc via RNS

Summary by 6ix AI

Voting advisory firms Glass Lewis, ISS and PIRC have recommended that shareholders of investment trust Baillie Gifford US Growth Trust plc vote against Saba's Resolutions 1 to 3, which the Board opposes, at the company's annual general meeting, to be held at 1.00 p.m. on October 23, 2026.

Key details

All three firms also recommended that shareholders vote for re-appointing the existing directors (Resolutions 4 to 7).
The Board unanimously recommends voting against the Saba Resolutions 1 to 3 and for the Company Resolutions 4 to 14, as set out in a circular posted to shareholders on September 17, 2026.
The Board says the advisers share its concerns about the company's future if Saba's proposals are voted through, and that votes against Resolutions 1 to 3 and for Resolutions 4 to 14 will be crucial to preserving the Board's independence and the company's strategy.
The deadline for proxy voting (voting in advance by appointing someone to vote on a shareholder's behalf) is 1.00 p.m. on October 21, 2026; deadlines for voting through platforms will be earlier.

What’s still pending

The resolutions have not yet been decided; shareholders will vote on them at the annual general meeting on October 23, 2026.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/voting-advisers-recommend-vote-against-saba

12 October 2026

Baillie Gifford US Growth Trust plc (USA)

Legal Entity Identifier: 213800UM1OUWXZPKE539

Glass Lewis, ISS and PIRC recommend Shareholders vote AGAINST Saba's proposals

The Board of Baillie Gifford US Growth Trust plc (the "Company") notes the publication of voting recommendations from independent voting experts Glass Lewis, ISS and PIRC, in relation to the Company's forthcoming Annual General Meeting.

All three LEADING VOTING EXPERTS have recommended that Shareholders VOTE AGAINST the Saba Resolutions (Resolutions 1-3 (inclusive)) at the Annual General Meeting to be held at 1.00 p.m. on 23 October 2026. Further, all three firms recommended that shareholders VOTE FOR re-appointing the existing Directors (Resolutions 4-7).

Industry-leading governance experts Glass Lewis, ISS and PIRC share the Board's concerns about the future of the Company should the proposals put forward by Saba be voted through.

Further details concerning the Annual General Meeting, along with the Board's rationale and unanimous recommendation that Shareholders VOTE AGINST the Saba Resolutions 1-3 (inclusive) and VOTE FOR the Company Resolutions 4-14 (inclusive) can be found in the circular posted to Shareholders on 17 September 2026 (the "Circular") (a copy of which is available on the Company's website at bgusgrowthtrust.com).

All votes AGAINST the Saba Resolutions (1-3 (inclusive)) and FOR the Company Resolutions (4-14 (inclusive)) will be crucial to preserving the independence of the Board and the strategy of the Company. We urge all our Shareholders to make your voices heard to protect the future of the Company.

THE DEADLINE FOR PROXY VOTING CLOSES AT 1.00 P.M. ON 21 OCTOBER 2026. DEADLINES FOR VOTING THROUGH PLATFORMS WILL BE EARLIER.

Any Shareholders needing help or assistance in voting their Shares before the deadline should email USA@georgeson.com for more information or call this helpline: 0207 019 7018 (Monday to Friday, 9.00 a.m. to 5.00 p.m.)

Unless the context provides otherwise, capitalised terms used in this announcement shall have the same meanings given to them in the Circular.

Tom Burnet, Chairman of Baillie Gifford US Growth Trust plc, said:

"Baillie Gifford US Growth has been a top decile performing investment trust since launch in March 2018 compared with all UK investment trusts and US equity funds. It has a proven track record of delivering strong value creation for Shareholders through its high-conviction strategy. Further to that it has a distinctive proposition and an independent Board with a wealth of expertise which is directly aligned with the Company's strategy of investing in exceptional public and private US growth companies."

"We are very pleased to see that all three major independent voting advisers have agreed with the Board's unanimous recommendation to VOTE AGAINST the Saba Resolutions. These experts echo the Board's concerns that Saba's proposals are inconsistent with appropriate standards of corporate governance and signal Saba's intent on obtaining control of the Company."

"We urge all of our Shareholders to make your voices heard: VOTE AGAINST the Saba Resolutions and VOTE FOR the Company Resolutions to protect the future of your Company; every vote counts."

Enquiries:

Company

Tom Burnet

c/o Burson Buchanan

USA@buchanancomms.co.uk

+44 (0)20 7466 5000

Panmure Liberum Limited

Alex Collins / Michael Janes

info@panmureliberum.com

+44 (0)20 3100 2000

Burson Buchanan

Henry Wilson / Helen Tarbet / Nick Croysdill