Shareholder meeting delayed as proposal faces defeat
XAI Floating Rate & Alternative Income Trust’s shareholder meeting on the New Sub-Adviser Proposal was delayed as the measure appeared headed for defeat.
Octagon urged investors to vote against the proposal, citing concerns over economics that it said favor XA Investments.
Octagon pushed an alternative plan featuring a 25% tender offer, a management fee cut to 1.3% from 1.7%, and a 10-year term structure.
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