Published by Global Banking & Finance Review®
Posted on January 13, 2026
1 min readLast updated: January 19, 2026
Add as preferred source on GoogleSaba Capital, holding 13.5% of Workspace, urges a wind-down due to trading issues and shareholder concentration. Workspace reported a pretax loss amid market challenges.
Jan 13 (Reuters) - Boaz Weinstein's Saba Capital, which holds about a 13.5% stake in London-focused flexible office-space provider Workspace, sent a letter on Tuesday urging the company to pursue a managed wind-down.
"Considering the company's (Workspace) persistent trading discount, refinancing challenges, and structural impediments in its shareholder base, the current model no longer represents the best path to value creation," U.S. activist investor Saba said in the letter.
Saba also accused Workspace of having a highly concentrated shareholder register, with a small number of holders controlling a "disproportionately large portion" of the shares.
The London-listed company's shares had fallen 7.6% in the last 12 months as of Tuesday's market close.
Workspace did not immediately respond to a Reuters request for a comment.
The British firm reported a pretax loss of 71.1 million pounds ($95.46 million) for the six months to September 30 as budget uncertainty led to delays in leasing decisions by small- and medium-sized businesses.
($1 = 0.7448 pounds)
(Reporting by DhanushVignesh Babu and Atharva Singh in Bengaluru; Editing by Alan Barona)
A managed wind-down refers to a structured process where a company gradually ceases operations while ensuring that all financial obligations are met and assets are appropriately handled.
A trading discount occurs when a company's shares are sold at a lower price than their intrinsic value, often reflecting market concerns about the company's performance or outlook.
Shareholder concentration refers to a situation where a small number of shareholders own a large percentage of a company's shares, which can lead to governance challenges and influence over company decisions.
A pretax loss occurs when a company's expenses exceed its revenues before accounting for taxes, indicating financial difficulties during that period.
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