XAI Floating Rate trust urges vote backing King Street sub-adviser, triggering liquidity plan, ahead of Aug. 6 meeting

Reuters2026/08/03 12:50

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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.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. XAI Floating Rate & Alternative Income Trust published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608030850PRIMZONEFULLFEED9802446) on August 03, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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XAI Floating Rate trust urges vote backing King Street sub-adviser, triggering liquidity plan, ahead of Aug. 6 meeting

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