Workspace Group faces boardroom shakeup as activist Saba Capital seeks to replace directors

Workspace Group PLC, a London flexible-office landlord, is facing a boardroom challenge from US hedge fund Saba Capital Management, which holds about 18.21% of the company's shares. Saba has requisitioned resolutions to remove five current non-executive directors and appoint four new ones at the 2026 annual meeting. This follows Saba's earlier proposal for a managed wind-down of Workspace over 12 months to address its share price discount to net asset value, which the board rejected as unfeasible and not in shareholders' best interests. Workspace shares fell about 3% amid the news, but the board has advised investors to take no action on the requisition for now.