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ISS Recommends ECAT Shareholders Vote to Support Nine out of Ten Board Nominees and Against Saba's Termination Proposal

1. ISS recommends ECAT shareholders vote FOR nine board members and AGAINST adviser termination.

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FAQ

Why Bullish?

The recommendation by ISS indicates strong institutional support for the board, likely stabilizing ECAT's price amidst investor uncertainty. Historical instances show that positive proxy recommendations can lead to price increases for funds facing shareholder disputes.

How important is it?

The ISS's support significantly influences shareholder decisions, impacting ECAT's governance stability and investment strategy. Given the active involvement of a dissident shareholder and the proximity of the vote, these elements are particularly salient.

Why Short Term?

The upcoming annual meeting on June 26 means immediate investor sentiment could shift positively or negatively shortly. Quick reactions to shareholder meetings are common as they directly impact governance and investment strategies.

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NEW YORK--(BUSINESS WIRE)--BlackRock Advisors LLC (“BlackRock”) announced today that Institutional Shareholder Services Inc. (“ISS”), a leading independent proxy advisory firm, recommended that shareholders of BlackRock ESG Allocation Term Trust (NYSE: ECAT) (the “Fund”) vote on the WHITE card FOR nine out of ten of the incumbent Board nominees and AGAINST the proposal put forth by a dissident shareholder to terminate BlackRock as investment adviser ahead of the Fund's annual meeting on June 26.

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