Key facts
- Gore Street Energy Storage Fund shareholders voted against resolutions to wind up the company.
- Activist investor Saba Capital Management proposed the wind-up resolutions.
- Approximately 44% of votes supported Saba Capital's resolutions.
- The fund's board will engage with shareholders, including Saba Capital, which holds a 20% stake.
- Chairman Angus Gordon Lennox's re-election received 55.3% of votes in favor.
Gore Street Energy Storage Fund has successfully fended off an attempt by activist hedge fund Saba Capital Management to wind up the company. At the fund's annual general meeting on September 16, 2026, shareholders voted against two special resolutions proposed by Saba. Resolution 16, which sought to cease the company's operation as an investment entity, was defeated with 55.97% of votes against and 44.03% in favor. Resolution 17, which would have compelled directors to present wind-up plans, also failed to pass, receiving 44.25% support. Turnout for these contested resolutions was high, with approximately 67% of issued share capital participating. The fund's board acknowledged the significant opposition and pledged to engage with shareholders, including Saba Capital, its largest shareholder with a 20% stake, to establish a productive way forward and avoid further disruption. In a separate vote, chairman Angus Gordon Lennox's re-election was narrowly approved with 55.27% of votes in favor, while other directors were re-elected with wider margins.