REG - abrdn Diversfd. I&G - Circular in relation to proposed B Share Scheme

abrdn Diversified Income and GrowthAnnouncement

17/06/2024 11:30

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RNS Number : 7184S  abrdn Diversified Income and Growth  17 June 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

17 June 2024

ABRDN DIVERSIFIED INCOME AND GROWTH PLC

Publication of Circular in relation to proposed B Share Scheme

abrdn Diversified Income and Growth plc (the "Company") is pleased to announce
further details of its proposals to return approximately £115 million in
aggregate (representing approximately 38 pence per Ordinary Share) to
Shareholders by way of an Initial Return of Capital pursuant to a bonus issue,
on a pro rata basis, of B Shares to all Shareholders followed by the
redemption of such B Shares (the "B Share Scheme").

A circular containing further details of the proposed B Share Scheme,
including the Initial Return of Capital, and the notice convening the General
Meeting has today been published by the Company (the "Circular"). 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
(https://www.abrdndiversified.co.uk/en-gb
(https://www.abrdndiversified.co.uk/en-gb) ).

The introduction of the B Share Scheme remains conditional on Shareholder
approval. The Circular contains notice of the general meeting of the Company,
to be held at the offices of Dickson Minto, Level 4, Dashwood House, 69 Old
Broad Street, London EC2M 1QS at 4 p.m. on 3 July 2024 (the "General
Meeting"), at which Shareholders are being asked to provide the Company with
the necessary authorities to implement the B Share Scheme.

Timetable

It is expected that the timetable for the General Meeting and the B Share
Scheme will be as follows:

                                                                              2024
 Publication of the Circular                                                  17 June
 Latest time for receipt of Forms of Proxy and electronic appointments of     4 p.m. on 1 July
 proxies in respect of the General Meeting
 General Meeting                                                              4 p.m. on 3 July
 Ex Date in respect of the Initial Return of Capital                          3 July
 Record Date in respect of Initial Return of Capital                          6 p.m. on 4 July
 Issue and allotment of B Shares in respect of the Initial Return of Capital  5 July
 Redemption Date in respect of Initial Return of Capital                      5 July
 Payment date: (i) cheques posted to Shareholders; and (ii) CREST holders     By 10 July
 credited with funds, in each case respect of the first Return of Capital

 

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

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

 

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