REG - abrdn Smll Co's IT - Result of Scheme Elections

Abrdn Smaller Companies Income TrustAnnouncement

28/11/2023 11:00

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RNS Number : 9278U  abrdn Smaller Companies Inc Tst plc  28 November 2023

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WOULD BE UNLAWFUL.

This announcement is not an offer to sell, or a solicitation of an offer to
acquire, securities in the United States or in any other jurisdiction in which
the same would be unlawful. Neither this announcement, nor any part of it,
shall form the basis of, or be relied upon in connection with, or act as an
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28 November 2023

ABRDN SMALLER COMPANIES INCOME TRUST PLC

Legal Entity Identifier: 213800J6D2TVHRGKBG24

Result of Scheme Elections

In connection with the proposals for a combination of abrdn Smaller Companies
Income Trust plc ("ASCI" or the "Company") 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 Board of the Company is pleased
to announce the following Elections in connection with the Scheme:

·    Rollover Option - 14,384,088 Ordinary Shares (of which, 3,013,726
Ordinary Shares are held by Shires who will receive their distribution in
specie)

·    Cash Option - 7,725,677 Ordinary Shares

In accordance with the Scheme, eligible Shareholders that made no Election
have been deemed to have elected for the Rollover Option. Overseas
Shareholders have been deemed to have elected for the Cash Option. Therefore,
the Shares will be reclassified as follows:

·    11,370,362 Shares with "A" rights, being the right to receive New
SHRS Shares;

·    7,725,677 Shares with "B" rights, being the right to receive cash;
and

·    3,013,726 Shares with "C" rights, being in respect of the Ordinary
Shares held by Shires who will receive their distribution in specie.

Applications have been made to the FCA and to the London Stock Exchange for
the Ordinary Shares to be reclassified for listing and trading purposes with
effect from 8:00 a.m. on 30 November 2023.

The Listing of the Company's Reclassified Shares are subsequently expected to
be suspended at 7.30 a.m. on 1 December 2023. Defined terms used in this
announcement have the meanings given in the Company's circular to Shareholders
dated 17 October 2023 (the "Circular").

The Circular is available for viewing on the National Storage Mechanism
at https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

For further information please contact:

 abrdn Smaller Companies Income Trust plc        0131 372 2200

 Dagmar Kent Kershaw, Chair

 Winterflood Securities

 Neil Morgan                                     0203 100 0000

 

General

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than the content of the document referred to above, is neither incorporated
into nor forms part of the above announcement.

 

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