REG - abrdn Smll Co's IT - Result of First General Meeting

Abrdn Smaller Companies Income TrustAnnouncement

20/11/2023 15:45

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RNS Number : 0330U  abrdn Smaller Companies Inc Tst plc  20 November 2023

 

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shall form the basis of, or be relied upon in connection with, or act as an
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20 November 2023

 

ABRDN SMALLER COMPANIES INCOME TRUST PLC

 

Legal Entity Identifier: 213800J6D2TVHRGKBG24

 

Result of First General Meeting

 

In connection with the proposals for the voluntary winding-up of abrdn Smaller
Companies Income Trust plc ("ASCI" or the "Company") and combination with
Shires Income plc ("Shires" or "SHRS") by way of a scheme of reconstruction of
the Company under Section 110 of the Insolvency Act 1986 (the "Scheme"), the
Company is pleased to announce the result of the First General Meeting.

 

The Company announces the resolutions proposed at the First General Meeting
held today, have been approved by Shareholders. Details of the number of votes
cast for, against and withheld in respect of the resolutions, which were each
held on a poll, is set out below and will also be published on the Company's
website www.abrdnsmallercompaniesincome.co.uk
(http://www.abrdnsmallercompaniesincome.co.uk) .

 

 Resolution                                                                       Votes For (including Discretionary)  %      Votes Against  %     Votes Total  % Issued Share Capital represented by Votes Total(1)  Votes Withheld(2)
 To approve the Related Party Transaction                                         4,249,809                            98.16  79,464         1.84  4,329,273    19.58%                                                8,072
 To approve the reclassification of the shares in the capital of the Company as   7,251,948                            98.93  78,368         1.07  7,330,316    33.15%                                                17,405
 shares with "A" rights, shares with "B" rights and shares with "C" rights, and
 to approve changes required to the Company's articles of association.
 To approve the Scheme subject to certain conditions being satisfied.             7,262,351                            98.93  78,368         1.07  7,340,719    33.20%                                                7,002

(1.      ) The number of Ordinary Shares in issue as at the voting
record time of 6.30 p.m. (London time) on 16 November 2023 (the "Voting Record
Time") was 22,109,765. As at that date no shares were held in treasury.
Therefore, the total number of voting rights in the Company as at the Voting
Record Time was 22,109,765.

(2.      ) A 'vote withheld' is not a vote in law and will not be
counted in the calculation of the proportion of the votes for and against a
resolution.

(3.      ) As at the Voting Record Time, Independent Shareholders held
19,096,039 Ordinary Shares representing 86.4% per cent. of the Company's
issued share capital as at the Voting Record Time.

 

On 30 October 2023 the Board announced that, subject to the passing of the
resolutions at the First General Meeting, a Pre-liquidation Dividend of 14.75p
per Ordinary share in respect of the year to 31 December 2023 would be paid to
Shareholders (on the register as at close of business on 10 November 2023) on
24 November 2023. This condition has been satisfied.

 

The Ordinary Shares will be disabled for settlement in CREST from 6:00 p.m. on
24 November 2023 and trading will be suspended from 7.30 a.m. on 27 November
2023. Following the reclassification of the Ordinary Shares on 30 November
2023, the Reclassified Shares will be suspended from listing at 7.30 a.m. on 1
December 2023.

 

The full text of the ordinary and special resolutions of the First General
Meeting are set out in the Notice of First General Meeting, contained in the
Company's circular to Shareholders dated 17 October 2023 (the "Circular").

 

The Circular is available for viewing on the Company's website,
www.abrdnsmallercompaniesincome.co.uk
(http://www.abrdnsmallercompaniesincome.co.uk) and at the National Storage
Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

 

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

 

For further information:

 

 abrdn Smaller Companies Income Trust plc        0131 372 2200

 Dagmar Kent Kershaw, Chair

 Winterflood Securities

 Neil Morgan                                     0203 100 0000
 General

 The content of the Company's web-pages and the content of any website or pages
 which may be accessed through hyperlinks on the Company's web-pages, other
 than the content of the document referred to above, is neither incorporated
 into nor forms part of the above announcement.

 

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