REG - abrdn Euro Logistics - Result of AGM

abrdn European Logistics IncomeAnnouncement

01/06/2026 16:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260601:nRSA5256Ga&default-theme=true

RNS Number : 5256G  abrdn European Logistics Income plc  01 June 2026

abrdn European Logistics Income plc (LSE: ASLI) (the "Company" or "ASLI")

LEI: 213800I9IYIKKNRT3G50

 

1 June 2026

 

Result of Annual General Meeting

 

At the Annual General Meeting of the Company held on 1 June 2026, Resolutions
1 to 8 and 11 were duly passed and Resolutions 9 and 10 were not passed with
all voting having been conducted on a poll.

 

The result of the poll is as follows:

 RES NO.  VOTES FOR    %      VOTES AGAINST  %      VOTES TOTAL  % ISC *  VOTES WITHHELD
 1        194,314,905  99.89  219,052        0.11   194,533,957  47.20%   983,977
 2        121,384,311  62.11  74,040,843     37.89  195,425,154  47.41%   92,780
 3        195,346,062  99.95  107,491        0.05   195,453,553  47.42%   64,381
 4        120,630,883  61.73  74,786,062     38.27  195,416,945  47.41%   100,989
 5        120,639,792  61.73  74,777,153     38.27  195,416,945  47.41%   100,989
 6        119,847,349  61.33  75,569,596     38.67  195,416,945  47.41%   100,989
 7        195,161,862  99.88  240,010        0.12   195,401,872  47.41%   116,062
 8        195,223,807  99.91  185,414        0.09   195,409,221  47.41%   108,713
 9        121,698,572  62.34  73,519,838     37.66  195,218,410  47.36%   299,524
 10       121,758,127  62.29  73,717,107     37.71  195,475,234  47.43%   42,700
 11       195,260,864  99.91  173,962        0.09   195,434,826  47.42%   83,108

 

(1) Any proxy arrangement which gave discretion to the Chair has been included
in the 'For' totals.

(2) 'Vote Withheld' is not a vote in law and is not counted in the total votes
cast or the calculation of the percentage of votes 'For' or 'Against' each
resolution.

(3) The total number of ordinary shares of £0.01 each in issue is
412,174,356. The total number of voting rights is 412,174,356.

 

The Board notes that while Resolution 2 (relating to the Directors'
Remuneration Report) and Resolutions 4, 5 and 6 (each relating to the
re-election of Directors) were all passed as ordinary resolutions, more than
20% of votes cast were against the Board's recommendation on each resolution.
The votes against were almost entirely exercised by DL Invest Group ISR SARL
("DL Invest"), the Company's largest Shareholder. DL Invest recently
requisitioned a meeting of the Company to put forward proposals for the
replacement of the Company's existing investment manager with DL Invest and
for the Company to change its stated investment policy of completing a managed
wind-down of its assets and going into liquidation. Those proposals were
comprehensively voted down by Shareholders at the requisitioned general
meeting on 20 February 2026.

 

DL Invest also voted against Resolution 9 (relating to the authority to make
market purchases of Ordinary Shares), and Resolution 10 (relating to the
authority to call general meetings on not less than 14 clear days' notice). As
special resolutions, Resolutions 9 and 10 required the support of at least 75%
of votes cast and were therefore not passed.

 

The Board is disappointed with the votes cast against its recommendations on
these Resolutions; and in accordance with the AIC Code of Governance Code, the
Board will seek to understand the reasons for the votes cast against the
Board's recommendations.

 

Shareholder Engagement and Next Steps

 

The Board remains focused on progressing the disposal of the Company's sole
remaining asset and returning all remaining capital to Shareholders as
efficiently as possible.

 

The Board and its advisers intend to engage with the Company's larger
Shareholders over the coming days to discuss the outcome of the AGM, the
completion of the Company's Shareholder-approved managed wind-down and the
proposed next steps.

 

Subject to the outcome of this engagement process, the Board intends to
progress the documentation and other steps required to place the Company into
liquidation as soon as practicable.

 

Passing of Resolution under Special Business

 

The full text of Special Resolution 11 can be found in the Notice of Meeting
set out in the Annual Report and Financial Statements for the year ended 31
December 2025, copies of which are available on the Company's website,
eurologisticsincome.co.uk*. A copy of Special Resolution 11 will shortly be
available for inspection at the National Storage Mechanism ("NSM"):
https://data.fca.org.uk/#/nsm/nationalstoragemechanism *.

 

* Neither the Company's website nor the NSM website nor the content of any
website accessible from hyperlinks on those websites (or any other website) is
(or is deemed to be) incorporated into, or forms (or is deemed to form) part
of this announcement.

 

abrdn Holdings Limited

Company Secretary

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGSSIFLFEMSEIM



            Copyright 2019 Regulatory News Service, all rights reserved