REG - abrdn Diversfd. I&G - Circular and Notice of General Meeting

abrdn Diversified Income and GrowthAnnouncement

05/12/2024 16:15

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RNS Number : 0330P  abrdn Diversified Income and Growth  05 December 2024

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY (IN WHOLE
OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THE JURISDICTION.

LEI Number: 2138003QINEGCHYGW702

5 December 2024

ABRDN DIVERSIFIED INCOME AND GROWTH PLC

(the "Company")

Publication of Circular in relation to Recommended Proposals for the Capital
Reduction to allow for the return of capital to Shareholders and amendment of
the Company's Articles

The Board of Directors of the Company (the "Board") is pleased to announce the
publication of a circular in relation to the recommended proposals to cancel
the entire amount standing to the credit of the Company's capital redemption
reserve (the "Capital Reduction") and to amend the Company's articles of
association (the "Articles") in order to remove the requirement for the
Company to hold a continuation vote at each annual general meeting (the
"Circular").

In accordance with the managed wind-down approved by shareholders on 27
February 2024, the Board is keen to continue progressively returning cash to
Shareholders in the form of capital. The reserve arising as a result of the
Capital Reduction, if approved by Shareholders and the Court of Session will,
subject to any arrangements required for the protection of creditors and any
direction given by the Court, amount to distributable reserves which may then
be used for all purposes permitted under the Companies Act and will be
available to the Company to distribute to Shareholders.

The Board also believes that in light of the clear mandate previously provided
by Shareholders and in order to provide continuity and certainty during the
managed wind-down, the Company's Articles should be amended to remove the
current requirement to hold a continuation vote at each annual general meeting
of the Company.

The Capital Reduction and the amendment to the Articles remain conditional on,
amongst other things, Shareholder approval. The Circular contains further
details of the Capital Reduction, the amendment to the Articles and a notice
of general meeting of the Company (the "General Meeting"). The General Meeting
will be held at the offices of Dickson Minto LLP, Level 4, Dashwood House, 69
Old Broad Street, London EC2M 1QS at 10.30 a.m. on 23 December 2024 at which
Shareholders will be asked to provide the Company with the necessary
authorities to implement the Capital Reduction and the amendment to the
Articles.

A copy of the Circular will be submitted to the National Storage Mechanism and
will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) . The Circular will
also be available on the Company's website (www.abrdndiversified.co.uk/en-gb
(http://www.abrdndiversified.co.uk/en-gb) ).

Defined terms used in this announcement have the meanings given in the
Circular unless the context otherwise requires.

 

Timetable

The expected timetable for the General Meeting is as follows:

Latest time and date for receipt of Forms of Proxy ..........................
10.30 a.m. on 19 December 2024

Record time and date for the General Meeting ................................
.6.30 p.m. on 19 December 2024

General
Meeting.................................................................................10.30
a.m. on 23 December 2024

 

Notes:

All references to time in this document are to UK time. If any of the above
times and/or dates change, the revised time(s) and/or

date(s) will be notified to Shareholders by an announcement through a
Regulatory Information Service.

 Enquiries:
 abrdn Diversified Income and Growth plc            via Burson Buchanan
 Davina Walter (Chairman)
 Dickson Minto Advisers
 Douglas Armstrong                                  +44 (0)20 7649 6823
 Burson Buchanan
 Helen Tarbet / Henry Wilson                        +44 (0)20 7466 5000
 Verity Parker / Samuel Adams                       ADIG@buchanancomms.co.uk

 

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