XAI Floating Rate trust urges vote backing King Street sub-adviser, triggering liquidity plan, ahead of Aug. 6 meeting
Reuters2026/08/03 12:50- XAI Floating Rate & Alternative Income Trust urged shareholders to back King Street’s long-term sub-advisory appointment ahead of an Aug. 6 special meeting.
- Preliminary results showed more than two-thirds of engaged, non-abstaining votes supported the proposal; abstentions blocked passage at a July 30 vote.
- Approval would trigger the board’s liquidity plan, starting with an initial tender offer followed by two contingent tenders about 13 and 25 months later.
- ISS and Glass Lewis recommended voting for the board’s proposal.
- Octagon was terminated on July 30; the trust said a vote against would not reinstate it or implement its proposals.
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