NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THE JURISDICTION.
LEI Number: 2138003QINEGCHYGW702
17 June 2024
ABRDN DIVERSIFIED INCOME AND GROWTH PLC
Publication of Circular in relation to proposed B Share Scheme
abrdn Diversified Income and Growth plc (the "Company") is pleased to announce further details of its proposals to return approximately £115 million in aggregate (representing approximately 38 pence per Ordinary Share) to Shareholders by way of an Initial Return of Capital pursuant to a bonus issue, on a pro rata basis, of B Shares to all Shareholders followed by the redemption of such B Shares (the "B Share Scheme").
A circular containing further details of the proposed B Share Scheme, including the Initial Return of Capital, and the notice convening the General Meeting has today been published by the Company (the "Circular"). A copy of the Circular will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The Circular will also be available on the Company's website (https://www.abrdndiversified.co.uk/en-gb ).
The introduction of the B Share Scheme remains conditional on Shareholder approval. The Circular contains notice of the general meeting of the Company, to be held at the offices of Dickson Minto, Level 4, Dashwood House, 69 Old Broad Street, London EC2M 1QS at 4 p.m. on 3 July 2024 (the "General Meeting"), at which Shareholders are being asked to provide the Company with the necessary authorities to implement the B Share Scheme.
Timetable
It is expected that the timetable for the General Meeting and the B Share Scheme will be as follows:
| | 2024 |
| Publication of the Circular | 17 June |
| Latest time for receipt of Forms of Proxy and electronic appointments of proxies in respect of the General Meeting | 4 p.m. on 1 July |
| General Meeting | 4 p.m. on 3 July |
| Ex Date in respect of the Initial Return of Capital | 3 July |
| Record Date in respect of Initial Return of Capital | 6 p.m. on 4 July |
| Issue and allotment of B Shares in respect of the Initial Return of Capital | 5 July |
| Redemption Date in respect of Initial Return of Capital | 5 July |
| Payment date: (i) cheques posted to Shareholders; and (ii) CREST holders credited with funds, in each case respect of the first Return of Capital | By 10 July |
Defined terms used in this announcement have the meanings given in the Circular unless the context otherwise requires
| Enquiries: |
| |
| abrdn Diversified Income and Growth plc | |
|
| Davina Walter (Chairman) | via Buchanan |
|
| Dickson Minto Advisers | |
|
| Douglas Armstrong | +44 (0)20 7649 6823 |
|
| Buchanan | |
|
| Helen Tarbet / Henry Wilson | +44 (0)20 7466 5000 |
|
| George Beale / Verity Parker | ADIG@buchanancomms.co.uk |
|
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.
