XAI Floating Rate trust shareholders urged to back King Street sub-adviser in Aug. 6 proxy vote - XFLT News | RalliesXAI Floating Rate trust shareholders urged to back King Street sub-adviser in Aug. 6 proxy vote
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XFLT• Shareholders to vote on King Street sub-advisory deal
- XAI Floating Rate & Alternative Income Trust shareholders vote Aug. 6 on a long-term sub-advisory deal with King Street’s Rockford Tower unit.
- ISS and Glass Lewis recommend voting for the King Street appointment; the board urges support via the white proxy card.
- Preliminary tallies show engaged shareholders’ for-votes would have carried July 30 without the impact of abstentions.
- Octagon was terminated as sub-adviser; an against vote will not reinstate it or enable its proposed plan.
- Approval would trigger a liquidity plan featuring a 12.5% tender at 98% of NAV within 45 days, with up to 12.5% more via contingent tenders.
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