REG - abrdn Smll Co's IT - Strategic Review

Abrdn Smaller Companies Income TrustAnnouncement

13/02/2023 07:00

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RNS Number : 6390P  abrdn Smaller Companies Inc Tst plc  13 February 2023

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATON FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. ON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 For immediate release

 13 February 2023

abrdn Smaller Companies Income Trust plc ("the Company")

Strategic Review

 

The Company continues to deliver upon its investment objective of providing a
high and growing dividend and capital growth from a portfolio invested
principally in UK smaller companies and UK fixed income securities.

 

However, the Company's shares have continued to trade at a material discount
to their net asset value for a prolonged period of time and this, coupled with
the Company being of a small scale, has created challenges in generating
improved liquidity in the Company's shares and will also restrict the
Company's ability to grow over time.

 

Whilst the board of directors of the Company (the "Board") believes that the
Company remains in a position to continue to generate attractive returns for
all shareholders, the Board today announces that it intends to undertake a
strategic review to consider the future of the Company. The strategic review
will include consideration of a combination of the Company's assets with
another suitable investment trust, possibly coupled with a cash exit.

 

The Board will continue to update shareholders on the progress of the
strategic review, as appropriate. There can be no certainty as to the outcome
of the strategic review nor whether any potential transaction would be
successfully completed.

 

Enquiries:

Dagmar Kershaw, Chair

0131 372 2200

Joe Winkley, Winterflood Securities

0203 100 0301

Douglas Armstrong, Dickson Minto Advisers

0207 649 6823

 

Legal Entity Identifier: 213800J6D2TVHRGKBG24

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