abrdn Euro Logistics - Update on Strategic Review & Fourth Int. Dividend

abrdn European Logistics Income

19/02/2024 07:00

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RNS Number : 5254D  abrdn European Logistics Income plc  19 February 2024

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INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

 

Date: 19 February
2024

 

For Immediate Release

 

abrdn European Logistics Income plc

 

Update on Strategic Review and Fourth Interim Dividend

 

The Board of abrdn European Logistics Income plc (the "Company") provides an
update in respect of the strategic review announced on 27 November 2023 (the
"Strategic Review").

 

Since 27 November 2023, the Company has received a number of broad ranging
preliminary, indicative non-binding proposals. While there can be no certainty
at this stage that the final terms of any proposal will prove to be
sufficiently attractive to merit a Board recommendation to the Company's
shareholders, the Board is encouraged by the progress made to date and the
Company's advisers are actively engaging with a select number of parties to
satisfy their due diligence requirements. The Board will provide further
updates as appropriate.

 

Fourth Interim Dividend

In light of the initial response to the Strategic Review, the Board and its
advisers are keen to ensure that the Company is optimally positioned, and that
it maintains the maximum flexibility, to allow it to advance any particular
proposal. As a result, the Board has taken the decision to forgo declaring a
fourth interim distribution for the quarter ended 31 December 2023, which has
historically been declared in February and paid in March each year.

 

Subject to the outcome of the Strategic Review, the Board intends to
recommence dividend payments in line with the Company's standard dividend
timetable.

 Enquiries

 Investec Bank plc (Financial Adviser and Corporate Broker)                                             +44 (0) 20 7597 4000

 David Yovichic

 Denis Flanagan

 FTI                                                                                                    +44 (0) 20 3727 1000
 Consulting

                                                                                                      aseli@fticonsulting.com (mailto:aseli@fticonsulting.com)
 Dido Laurimore

 Richard Gotla

 James McEwan

LEI Number

The Company's LEI Number is 213800I9IYIKKNRT3G50

 

Investec Bank plc, which is authorised in the United Kingdom by the Prudential
Regulation Authority and regulated in the UK by the Financial Conduct
Authority and the Prudential Regulation Authority, is acting exclusively for
abrdn European Logistics Income plc and no one else in connection with the
matters discussed in this announcement and shall not be responsible to anyone
other than abrdn European Logistics Income plc for providing the protections
afforded to clients of Investec, nor for providing advice in connection with
any matter referred to herein. Neither Investec nor any of its affiliates (nor
any of its or their respective directors, officers, employees, representatives
or agents) owes or accepts any duty, liability or responsibility whatsoever
(whether direct, indirect, consequential, whether in contract, in tort, under
statute or otherwise) to any person who is not a client of Investec in
connection with this announcement, any statement contained herein or
otherwise.

 

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of, any securities whether
pursuant to this announcement or otherwise.

 

The release, publication or distribution of this announcement in jurisdictions
outside the United Kingdom may be restricted by laws of the relevant
jurisdictions and therefore persons into whose possession this announcement
comes should inform themselves about, and observe, such restrictions. Any
failure to comply with the restrictions may constitute a violation of the
securities law or any such jurisdiction.

 

Publication on a website

 

In accordance with Rule 26.1 of the Takeover Code, a copy of this announcement
will, subject to certain restrictions relating to persons resident in
restricted jurisdictions, be available on the Company's website at
https://www.eurologisticsincome.co.uk (https://www.eurologisticsincome.co.uk)
no later than 12 noon (London time) on the business day following the date of
this announcement. Neither the content of any website referred to in this
announcement nor the content of any website accessible from hyperlinks is
incorporated into, or forms part of, this announcement.

 

Inside Information

 

The information contained within this announcement is deemed by abrdn European
Logistics Income plc to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No.596/2014 (as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018. On the publication of
this announcement via a Regulatory Information Service, such information is
now considered to be in the public domain.

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