XFLT Urges 'FOR' King Street Sub-Advisory Agreement; Endorsed by ISS, Glass Lewis
XAI Octagon Floating Rate & Alternative Income Trust (XFLT) is urging shareholders to vote "FOR" the King Street Sub-Advisory Agreement by the August 5, 2026 deadline. This agreement involves the long-term appointment of Rockford Tower Asset Management, a subsidiary of King Street Capital Management, as the interim sub-adviser. The recommendation is supported by leading investment research provider High Dividend Opportunities (Seeking Alpha) and proxy advisory firms ISS and Glass Lewis. The agreement is linked to a proposed liquidity plan, including tender offers, aimed at enhancing long-term shareholder value.
Key Highlights
- Shareholders urged to vote "FOR" King Street Sub-Advisory Agreement by August 5, 2026.
- Agreement for long-term appointment of Rockford Tower Asset Management (King Street Sub-Adviser).
- Seeking Alpha's High Dividend Opportunities, ISS, and Glass Lewis recommend "FOR".
- King Street Sub-Adviser manages $30 billion in assets and a $12 CLO platform.
- Proposed liquidity plan includes initial and two contingent tender offers.
- Liquidity plan designed to support share price and enhance long-term value.
Price Impact
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