Shareholders have overwhelmingly rejected Saba Capital’s attempt to gain control of the Herald Investment Trust, marking a significant win for shareholder democracy. With 65.10% voting against Saba’s proposals to replace the board, only 0.15% of non-Saba shareholders supported the changes. Andrew Joy, Chairman of Herald, emphasized that the results reflect a strong opposition to Saba’s self-interested agenda. This defeat raises doubts about Saba’s future efforts against six other investment trusts facing similar challenges. The outcome illustrates the influence of retail investors in determining the direction of their investments, highlighting the importance of active participation in upcoming votes.