GlobeNewsWire
03 Aug 2026, 12:50 UTC · 1h ago
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XFLT's proposed liquidity plan will become effective upon shareholder approval of the King Street Sub-Advisory Agreement. — Liquidity programs in closed-end funds typically reduce discounts to NAV and provide a catalyst for price appreciation.
+0.60Preliminary voting shows over two-thirds of engaged shareholders and proxy advisors ISS and Glass Lewis support the appointment of King Street as sub-adviser. — Strong institutional and shareholder alignment increases the probability of the liquidity plan being enacted.
+0.40The sub-adviser Octagon was terminated as of July 30 and no longer has any role or authority in the management of the Fund. — Removes uncertainty regarding competing management strategies and confirms the transition to King Street.
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The fund is reporting strong shareholder support and proxy advisor recommendations for its proposed liquidity plan and sub-adviser agreement.
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