Page 5 of 9 – SEC Filing
| Item 5. | INTEREST IN SECURITIES OF THE ISSUER |
| Paragraphs (a) – (c) of Item 5 of the Schedule 13D are hereby amended and restated in their entirety as follows: |
| (a) | See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used in this Schedule 13D are calculated based upon 60,752,663 Common Shares outstanding as of May 30, 2017 as disclosed in Issuer’s proxy statement filed under cover of Schedule 14A on June 7, 2017. |
| Pursuant to certain cash-settled equity swaps, the Reporting Persons have economic exposure to, and may be deemed to beneficially own, an additional 501,150 notional Common Shares, constituting approximately 14.2% of the outstanding Common Shares, as more fully described in Item 6 of this Schedule 13D. | |
| (b) | See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. |
| (c) | During the last 60 days, no transactions in the Common Shares were effected by any Reporting Person. |
| Item 6. | CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER |
| Item 6 of the Schedule 13D is hereby amended and supplemented by the addition of the following: | |
| The Reporting Persons may be deemed to have economic exposure to an additional 501,500 Common Shares pursuant to certain cash-settled equity swaps between certain of the Saba Entities and broker-dealer counterparties. Such swaps mature on January 29, 2018 and, pursuant to the terms of such swaps, the reference prices for such swaps reset monthly based on the closing price of the Common Shares on the second business day prior to the last day of the end of each month. The Reporting Persons do not have voting power or dispositive power with respect to the Common Shares referenced in such swaps and disclaim beneficial ownership of the Common Shares underlying such swaps. |
| Item 7. | EXHIBITS |
| Item 7 of the Schedule 13D is hereby amended and supplemented by the addition of the following: | |
| Exhibit | Description |
| Exhibit 3: | Proposal, dated September 29, 2017, from Saba Capital to the Issuer. |
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